Corporate Governance in Developing and Emerging Markets

Corporate Governance in Developing and Emerging Markets

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Description

Throughout the world, the Anglo-American model of corporate governance tends to prevail - but no two countries are identical. Governance outcomes in developing and emerging economies often deviate from what theory predicts, due to a wide range of factors. Using insights from New Institutional Economics, Corporate Governance in Developing and Emerging Markets aims to explain the different issues and cultural and legal factors at play, and put forward an alternative governance framework for these economies. Structured in three parts, this text investigates different models of corporate governance; explores the realities of corporate governance in ten nations, including the BRIC and MINT countries; and then considers corporate governance reform. This interdisciplinary text will be a valuable tool for students of corporate governance across business, economics and law; and an equally useful resource for anyone working in or carrying out research in this area.show more

Product details

  • Hardback | 352 pages
  • 156 x 234 x 25.4mm | 635.03g
  • Taylor & Francis Ltd
  • ROUTLEDGE
  • London, United Kingdom
  • English
  • 11 black & white illustrations, 14 black & white tables, 11 black & white line drawings
  • 113895585X
  • 9781138955851

About Frank H. Stephen

Franklin N. Ngwu is Senior Lecturer in Strategy and Finance at Lagos Business School, Pan-Atlantic University, Nigeria. Onyeka K. Osuji is Senior Lecturer at the Law School, University of Exeter, UK. Frank H. Stephen is Emeritus Professor of Regulation at the University of Manchester, UK.show more

Review quote

'Corporate governance reformers have for far too long relied upon Anglo-American reference points in discussing and reforming corporate governance practices in transitional economies. As Osuji, Ngwu and Stephen show in their impressive edited volume on Corporate Governance in Developing and Emerging Markets, there are alternative theoretical models that can be usefully be used in thinking about and reforming governance practices in developing and emerging markets. This broader frame of reference has become essential as the governance outcomes in these markets have tended to diverge from the Anglo-American model. Rather than having reached an end of history in our thinking about corporate law and governance, it is clear that there are a number of alternative pathways that explain differences between developed economies and emerging markets. This volume draws upon a new institutional economics framework to provide insights which help to understand the causes of diversity in corporate governance patterns and practices. After charting some of the key issues that have shaped corporate governance debates, the volume contains nine in-depth country case studies and discussions of seven critical issues in helping us to better understand the institutional dynamics of corporate governance in developing and emerging markets. This volume will be essential reading in helping to reorient scholarship in the field of comparative corporate governance and in highlighting new ways of thinking about corporate governance in developing and emerging markets. A volume such as this has long been needed.' - Professor Roman Tomasic, Visiting Professor of Company Law, Durham Law School, UK, and Professor of Law, University of South Australia, Australiashow more

Table of contents

Part A: Introduction Chapter 1. Introduction Onyeka K. Osuji, Franklin N. Ngwu and Frank H. Stephen Part B: Models of Corporate Governance Chapter 2. Varieties of Corporate Governance Models: A Review and Synthesis Agyenim Boateng & Jia Lu Chapter 3. Development of the Anglo-American model of Corporate Governance in Developing and Emerging Markets Franklin N. Ngwu Chapter 4. New Institutional Economics, Culture and Corporate Governance Frank H. Stephen Part C: Corporate Governance in the BRICS and MINT Countries Chapter 5. Brazil: Recent Corporate Governance Advances and Retreats Ricardo P. C. Leal and Flavia S Maranho Chapter 6. Corporate Governance in Russia: Law, Instrumentality and Political Order Rilka Dragneva Chapter 7. Corporate Governance in India: The Potential for Ghandism Mia Mahmudur Rahim and Sanjaya Kuruppu Chapter 8. Corporate Governance in China: Regulatory Reforms and Policies Min (Ann) Du and Agyenim Boateng Chapter 9. Institutions and corporate governance in South Africa Thanti Mthanti and Kalu Ojah Chapter 10. Corporate Governance in Mexico Eduardo Morales Chapter 11. Corporate Governance in Indonesia Sylvia Veronica Siregar Chapter 12. Institutional Perspectives on Corporate Governance Reforms in Nigeria Olabisi Daodu, Franklin Nakpodia and Emmanuel Adegbite Chapter 13. Corporate Governance in Turkey Gul Okutan Nilsson Part D: Critical Issues for Corporate Governance in Developing and Emerging Markets Chapter 14. Corporate Governance and State-Owned Firms: The Case of Brazil Alexandre Coelho Chapter 15. Corporate Governance under Islam: Islamic Republic of Iran Surendra Arjoon Chapter 16. Shareholder Value, Emerging Economies and the Need to Reconcile the Corporate Objective with Sustainable and Inclusive Goals Vincenzo Bavoso Chapter 17. Improving Corporate Governance in Developing and Emerging Markets: The Politics, Economics and Law Olawale Ajayi Chapter 18. Share Ownership in Developing and Emerging Economies: Legal Institutions and Determinants of Effective Corporate Governance Ngozi Okoye Chapter 19. Director Disqualification as a Corporate Governance Tool in Developing and Emerging Markets Onyeka Osuji and Imogen Moore Chapter 20. The Market for Corporate Control and Shareholder versus Stakeholder Models: Whither Developing and Emerging Market Economies? Kalu Ojah and Euphemia Godspower-Akpomiemie Part E: Conclusion Chapter 21. Corporate Governance in Developing and Emerging Markets: The Way Forward Frank H. Stephen, Franklin N. Ngwu and Onyeka K. Osujishow more