haku: @freeterm Contagion / yhteensä: 16
viite: 3 / 16
| Tekijä: | Pajuste, A. |
| Otsikko: | Do good governance provisions shelter investors from contagion? Evidence from the Russian crisis |
| Lehti: | Economics of transition
2007 : VOL. 15:4, p. 807-824 |
| Asiasana: | corporate governance transition economies investors crises devaluation Russia Europe |
| Vapaa asiasana: | contagion |
| Kieli: | eng |
| Tiivistelmä: | The devaluation of the rouble in 1998 caused a crisis that effected economies outside the Russian borders. This article provides a perspective to corporate governance in transition economies and the influence of good governance on firmsÂ’ ability get through the Russian crisis. The analyzed data include financial industry, ownership and stock market information from 394 companies located in European 26 countries. The paper shows that in short run governance did not play a significant role, but in the longer term recovery was faster in companies with better firm-level governance. In general both firm- and country-level characteristics are important in overcoming the effects of a crisis. |
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