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| Author: | Young, M.N. (et al.) |
| Title: | Corporate governance in emerging economies: A review of the principal-principal perspective |
| Journal: | Journal of Management Studies
2008 : JAN, VOL. 45:1, p. 196-220 |
| Index terms: | corporate governance executives management emerging markets shareholders literature review |
| Language: | eng |
| Abstract: | Principal-principal (hereafter as: p-p.) conflicts have been identified as a major concern of corporate governance (here as: c-g.) in emerging economies. P-p. conflicts btw. controlling shareholders (here as: s-hlds.) and minority s-hlds. result from concentrated ownership, extensive family ownership and control, business group structures, and weak legal protection of minority s-hlds. Such p-p. conflicts alter the dynamics of the c-g. process, requiring remedies different from those that deal with principalagent conflicts. This article reviews and synthesizes recent research from strategy, finance, and economics on p-p. conflicts emphasizing on their institutional antecedents and organizational consequences. |
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