Overview

Throughout the world, the Anglo-American model of corporate governance tends to prevail – but no two countries are identical. Governance outcomes in developing and emerging economies often deviate from what theory predicts, due to a wide range of factors. Using insights from New Institutional Economics, Corporate Governance in Developing and Emerging Markets aims to explain the different issues and cultural and legal factors at play, and put forward an alternative governance framework for these economies. Structured in three parts, this text investigates different models of corporate governance; it explores the realities of corporate governance in ten nations, including the ‘BRICS’ (Brazil, Russia, India, China and South Africa) and ‘MINT’ (Mexico, Indonesia, Nigeria and Turkey) countries; and then considers corporate governance reform. This interdisciplinary text will be a valuable tool for students of corporate governance across Business, Economics and Law; and an equally useful resource for anyone working in or carrying out research in this area.

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9781138955868

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Reviews

'Corporate governance reformers have for far too long relied upon Anglo-American reference points in discussing and reforming corporate governance practices in transitional economies. As Osuji, Ngwu and Stephen show in their impressive edited volume on Corporate Governance in Developing and Emerging Markets, there are alternative theoretical models that can be usefully be used in thinking about and reforming governance practices in developing and emerging markets. This broader frame of reference has become essential as the governance outcomes in these markets have tended to diverge from the Anglo-American model. Rather than having reached an end of history in our thinking about corporate law and governance, it is clear that there are a number of alternative pathways that explain differences between developed economies and emerging markets. This volume draws upon a new institutional economics framework to provide insights which help to understand the causes of diversity in corporate governance patterns and practices. After charting some of the key issues that have shaped corporate governance debates, the volume contains nine in-depth country case studies and discussions of seven critical issues in helping us to better understand the institutional dynamics of corporate governance in developing and emerging markets. This volume will be essential reading in helping to reorient scholarship in the field of comparative corporate governance and in highlighting new ways of thinking about corporate governance in developing and emerging markets. A volume such as this has long been needed.' - Professor Roman Tomasic, Visiting Professor of Company Law, Durham Law School, UK, and Professor of Law, University of South Australia, Australia

Author Information

Franklin N. Ngwu is a Senior Lecturer in Strategy, Finance and Risk Management at Lagos Business School, Pan-Atlantic University, Nigeria. Onyeka K. Osuji is a Senior Lecturer at the Law School, University of Exeter, UK. Frank H. Stephen is an Emeritus Professor of Regulation at the School of Law, University of Manchester, UK.

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