Please use this identifier to cite or link to this item: http://hdl.handle.net/10125/59341

Relationships between the Institutional Environment and Corporate Governance Practices: Implications for Emerging and Developed Countries

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Title:Relationships between the Institutional Environment and Corporate Governance Practices: Implications for Emerging and Developed Countries
Authors:Cieslewicz, Josh
Daniel, Shirley
Kim, Jaehyeon
Keywords:corporate governance
emerging markets
institutional theory
rule of law
corruption
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.
URI:http://hdl.handle.net/10125/59341
Appears in Collections: 05 Corporate Governance


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