East meets west-Corporate governance in Asian emerging markets: A literature review and research agenda

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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.
Original languageEnglish
Pages (from-to)465-480
JournalInternational Business Review
Volume27
Issue number2
Early online date10-Oct-2017
DOIs
Publication statusPublished - Apr-2018
Externally publishedYes

Keywords

  • Asia
  • Boards of directors
  • Corporate governance
  • Emerging markets
  • Institutions
  • Ownership structure
  • BUSINESS GROUP AFFILIATION
  • FIRM PERFORMANCE EVIDENCE
  • FAMILY-CONTROLLED FIRMS
  • EARNINGS MANAGEMENT
  • OWNERSHIP STRUCTURE
  • EXECUTIVE-COMPENSATION
  • INSTITUTIONAL INVESTORS
  • POLITICAL CONNECTIONS
  • MALAYSIAN EVIDENCE
  • CAPITAL STRUCTURE

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