What drives corporate governance reform? : firm-level evidence from Eastern Europe / / Patricio Aroca Gonzalez ... [and others].

Format:

Book

Government document

Contributor:

World Bank.

Aroca González, Patricio.

Series:

Policy research working papers ; 3600.

World Bank e-Library.

Policy research working paper ; 3600

Language:

English

Subjects (All):

Corporate governance--Europe, Eastern.

Corporate governance.

Stock ownership--Europe, Eastern.

Stock ownership.

Voting--Europe, Eastern.

Voting.

Other Title:

What drives corporate governance reform?

Policy research working paper vol. 3600

Place of Publication:

[Washington, D.C. : World Bank, 2005]

System Details:

data file

Summary:

"The authors study differences in the use of two corporate governance provisions - cumulative voting and proxy by mail voting - in a sample of 224 firms located in four Eastern European countries. The report finds a significant relationship between ownership structure, and the use of corporate governance provisions. Firms with a controlling owner (owning more than 50 percent of shares) are less likely to adopt either of the two provisions. However, firms that have large, minority shareholders are more likely to adopt these provisions. The authors do not find any significant relationship between the use of these provisions, and foreign ownership. The results suggest that the decision to adopt these corporate governance provisions is influenced by large, minority shareholders in their battle for representation in the board, and in managerial decisions. "--World Bank web site.

Notes:

Title from PDF file as viewed on 8/24/2005.

Includes bibliographical references.

Publisher Number:

10.1596/1813-9450-3600