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Relationships between the Institutional Environment and Corporate Governance Practices: Implications for Emerging and Developed Countries
|Title:||Relationships between the Institutional Environment and Corporate Governance Practices: Implications for Emerging and Developed Countries|
rule of law
|Date Issued:||31 Aug 2018|
|Abstract:||Changing corporate governance practices requires both formal adoption of best practices as well as changing the supporting institutional environment. We identify which elements of the institutional environment are most closely related to changes in corporate governance practices. We examine the influence of changes in institutional environments on changes in corporate governance practices by examining data from 37 countries. For emerging countries, we find that changes in rule of law are followed by changes in corporate governance practices. When changes in control of corruption are combined with changes in government effectiveness, significant changes in corporate governance practices are also realized. This differs from the pathway to improved corporate governance practices for developed nations. Developed nations require a combination of changes in rule of law and changes in regulatory quality.|
|Appears in Collections:||
05 Corporate Governance|
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