Record Details

The Role of Corporate Governance in Transition Countries

The International Journal of Latest Trends in Finance and Economic Sciences

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Title The Role of Corporate Governance in Transition Countries
 
Creator Foo, Jennifer; Stetson University
Witkowska, Dorota; Warsaw University of Life Science
 
Description Abstract- Corporate governance has come to the forefront of academic research due to the vital role it plays in the overall health of economic systems. The wave of U.S. corporate fraud in the 1990s was attributed to deficiencies in corporate governance. The recent 2008-2009 global financial crisis, triggered by the unprecedented failure of Lehman Brothers and the subprime mortgage problems, renewed interest in the role corporate governance plays in the financial sector. The development of a strong corporate governance framework is important to protect stakeholders, maintain investor confidence in the transition countries and attract foreign direct investment.  This paper looks at the role of corporate governance in European transition countries in their transformation to a market economy. The paper compares the different levels of corporate governance established among the transition countries. Using synthetic taxonomic measures a study is conducted to look at the degree of corporate governance development by the new EU 2004 and 2007 accession transition countries and the convergence of corporate governance regimes across the countries. Our results indicate that transition countries that are closer to the English legal origin made greater strides in capital market and corporate governance development.
 
Publisher International Journal of Latest Trends in Finance and Economic Sciences
 
Contributor —
 
Date 2011-10-17
 
Type —
 
Format application/pdf
 
Identifier http://ojs.excelingtech.co.uk/index.php/IJLTFES/article/view/96
10.2047/ijltfes.v1i2.96
 
Source International Journal of Latest Trends in Finance and Economic Sciences; Vol 1, No 2 (2011): June Issue
 
Language en
 
Rights The copyright of the contribution is transferred to IJLTFES in case of acceptance. The copyright transfer covers the exclusive right to reproduce and distribute the contribution, including reprints, translations, photographic reproductions, microform, electronic form, or any other reproductions of similar nature. The Author may publish his/her contribution on his/her personal Web page provided that he/she creates a link to the mentioned volume of IJLTFES. The Author may not publish his/her contribution anywhere else without the prior written permission of the publisher unless it has been changed substantially. The Author warrants that his/her contribution is original, except for such excerpts from copyrighted works as may be included with the permission of the copyright holder and author thereof, that it contains no libellous statements, and does not infringe on any copyright, trademark, patent, statutory right, or propriety right of others. The Author also agrees for and accepts responsibility for releasing this material on behalf of any and all co-authors.