The changing corporate governance paradigm: Implications for transition and developing countries

Berglöf, Erik ; Thadden, Ernst-Ludwig von

Document Type: Working paper
Year of publication: 1999
The title of a journal, publication series: William Davidson Institute Working Papers Series
Volume: 263
Place of publication: Ann Arbor, MI
Publishing house: University of Michigan
Publication language: English
Institution: School of Law and Economics > Microeconomics and Finance (von Thadden (2004-)
Subject: 330 Economics
Abstract: The rapidly growing literature studying the relationship between legal origin, investorprotection, and finance has stimulated an important debate in academic circles. It has alsogenerated a number of applied research projects and strong policy statements. This paperdiscusses the implications, in particular for developing and transition countries, from thisliterature. We conclude that its focus on the plight of small investors is too narrow whenapplied to these countries. We argue that this group is unlikely to play an important role inmost developing and transition countries. External investors may still be crucial, but they aremore likely to come in as strategic investors or creditors. The paper also proposes a broaderparadigm including other stakeholders and mechanisms of governance in order to betterunderstand the problems facing these countries and generate policy implications thatcompensate for the weaknesses of capital markets.

Dieser Datensatz wurde nicht während einer Tätigkeit an der Universität Mannheim veröffentlicht, dies ist eine Externe Publikation.

Metadata export


+ Search Authors in

+ Page Views

Hits per month over past year

Detailed information

You have found an error? Please let us know about your desired correction here: E-Mail

Actions (login required)

Show item Show item