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| Tekijä: | Mueller, D. C. |
| Otsikko: | The Ango-Saxon approach to corporate governance and its applicability to emerging markets |
| Lehti: | Corporate governance
2006 : JUL, VOL 14:4, p. 207-219 |
| Asiasana: | corporate governance emerging markets capital markets return on investment investments developing countries STOCK MARKETS |
| Kieli: | eng |
| Tiivistelmä: | Many firms that grow rapidly and expand internationally need external funding, which is often done by issuing equity. However, issuing shares causes the cost of managers engaging in on-the-job consumption to fall, and they can be expected to do so at the expense of their shareholders. Strong corporate governance institutions help to protect shareholders in such situations. This article discusses the case for having strong corporate governance institutions to facilitate the creation of thich equity markets in developing countries in emerging markets, and explores the case for relying on alternative sources of capital (e.g. the state). |
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