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Corporate Governance: What It Is and Why It Matters
| Content Provider | Semantic Scholar |
|---|---|
| Author | Gregory, Holly J. Simms, Marsha E. |
| Copyright Year | 1999 |
| Abstract | In the wake of the financial crisis that began in East Asia and rapidly spread to other developing parts of the world, policy makers have learned that systematic failure of investor protection mechanisms, combined with weak capital market regulation in systems that rely heavily on "crony capitalism," can lead to failures of confidence that spread from individual firms to entire nations. Insufficient financial disclosure and capital market regulation, lack of minority shareholder protections, and failure of board and controlling shareholder accountability all supported lending and investing practices based on relationships rather than on a prudent analysis of risk and reward. 2 The not-surprising result in the "miracle" economies of East Asia was over-investment in non-productive and often speculative activities by corporations. 3 |
| File Format | PDF HTM / HTML |
| Alternate Webpage(s) | http://9iacc.org/papers/day2/ws3/dnld/d2ws3_hjgregorymesimms.pdf |
| Language | English |
| Access Restriction | Open |
| Content Type | Text |
| Resource Type | Article |
