دانلود رایگان مقاله انگلیسی شرق تا غذب: حاکمیت شرکت در بازارهای در حال ظهور آسیا - الزویر 2018

ABSTRACT

This review examines how corporate governance mechanisms in the Asian emerging markets (AEMs) context affect firm-level outcomes. Literature about characteristics of the main corporate governance actors (boards and owners), their effects on firm-level outcomes, and contingency factors in AEMs offers interesting first insights. I synthetize these results and develop a research agenda that proposes how AEM corporate governance research should extend (but not ignore) agency theory, how AEM research about firm effects of corporate governance could take a stakeholder-oriented perspective, and how research could utilize the AEM institutional context to model contingency factors and extend our theoretical understanding of corporate governance.

4. Conclusion

This paper offers a review and synthesis of the disconnected research on corporate governance in AEMs. I point out that the corporate governance landscape in AEMs is unique due to their weak formal institutions, diverse informal institutions, and the institutional dynamism. Based on a literature review and institutional particularities of AEMs I provide a detailed agenda for future research about corporate governance in AEMs with opportunities for new theoretical as well as empirical perspectives.

As a matter of course, my study is not free of limitations. First, one might argue that my approach to select articles that are included in my literature review is inconsistent – whereas all articles with a Philippine context are included in the review, studies with a Chinese context are only included when the journal is prestigious or their results were specifically insightful. I follow this approach to assure a balanced basis of my review across countries and to avoid biases due to a concentration of studies of Chinese firms. Thereby, I hope to provide a full picture over all AEM countries. Nevertheless, this dilemma also points out opportunities for future research: whereas we know a lot about corporate governance in the Chinese context, other regions such as the Philippines and Indonesia are still rather under-researched.