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What Drives Corporate Governance Reform? Firm-Level Evidence from Eastern Europe

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dc.contributor.authorKlapper, Leora F.
dc.contributor.authorLaeven, Luc
dc.contributor.authorLove, Inessa
dc.date.accessioned2012-06-18T14:47:04Z
dc.date.available2012-06-18T14:47:04Z
dc.date.issued2005-05
dc.description.abstractThe 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.en
dc.identifierhttp://documents.worldbank.org/curated/en/2005/05/5835446/drives-corporate-governance-firm-level-evidence-eastern-europe-drives-corporate-governance-reform-firm-level-evidence-eastern-europe
dc.identifier.doi10.1596/1813-9450-3600
dc.identifier.urihttps://hdl.handle.net/10986/8248
dc.languageEnglish
dc.publisherWorld Bank, Washington, DC
dc.relation.ispartofseriesPolicy Research Working Paper; No. 3600
dc.rightsCC BY 3.0 IGO
dc.rights.holderWorld Bank
dc.rights.urihttp://creativecommons.org/licenses/by/3.0/igo/
dc.subjectCAPITAL MARKETS
dc.subjectCASH FLOWS
dc.subjectCHARTER
dc.subjectCHARTERS
dc.subjectCOMPANY
dc.subjectCOMPANY LAW
dc.subjectCORPORATE FINANCE
dc.subjectCORPORATE GOVERNANCE
dc.subjectCORPORATE GOVERNANCE MECHANISMS
dc.subjectCORPORATE OWNERSHIP
dc.subjectCORPORATE VALUE
dc.subjectCORPORATIONS
dc.subjectCOUNTRY COMPARISON
dc.subjectDISCIPLINARY MECHANISMS
dc.subjectDISCLOSURE
dc.subjectEMERGING MARKETS
dc.subjectEMPIRICAL ANALYSIS
dc.subjectFINANCIAL SECTOR
dc.subjectFIRM SIZE
dc.subjectFIRMS
dc.subjectFOREIGN COMPANIES
dc.subjectFOREIGN INVESTORS
dc.subjectFOREIGN OWNERSHIP
dc.subjectGOVERNMENT OWNERSHIP
dc.subjectINVESTOR PROTECTION
dc.subjectLEGAL CHANGE
dc.subjectMANAGEMENT OWNERSHIP
dc.subjectMARKET VALUATION
dc.subjectPRIVATIZATION
dc.subjectPROFITABILITY
dc.subjectSHAREHOLDERS
dc.subjectSHAREHOLDING
dc.subjectSME
dc.subjectSME FINANCING
dc.subjectTHEORY OF THE FIRM
dc.subjectVOTING
dc.titleWhat Drives Corporate Governance Reform? Firm-Level Evidence from Eastern Europeen
dspace.entity.typePublication
okr.crossref.titleWhat Drives Corporate Governance Reform? Firm-Level Evidence From Eastern Europe
okr.date.disclosure2005-06-01
okr.date.doiregistration2025-04-10T10:45:46.019843Z
okr.doctypePublications & Research::Policy Research Working Paper
okr.doctypePublications & Research
okr.docurlhttp://documents.worldbank.org/curated/en/2005/05/5835446/drives-corporate-governance-firm-level-evidence-eastern-europe-drives-corporate-governance-reform-firm-level-evidence-eastern-europe
okr.globalpracticeTransport and ICT
okr.globalpracticeFinance and Markets
okr.globalpracticeGovernance
okr.guid813551468299116185
okr.identifier.doi10.1596/1813-9450-3600
okr.identifier.externaldocumentum000012009_20050601104152
okr.identifier.internaldocumentum5835446
okr.identifier.reportWPS3600
okr.language.supporteden
okr.pdfurlhttp://www-wds.worldbank.org/external/default/WDSContentServer/WDSP/IB/2005/06/01/000012009_20050601104152/Rendered/PDF/wps3600.pdfen
okr.region.administrativeEurope and Central Asia
okr.region.geographicalEastern Europe
okr.topicFinance and Financial Sector Development::Microfinance
okr.topicSmall Scale Enterprise
okr.topicFinancial Crisis Management and Restructuring
okr.topicGovernance::National Governance
okr.topicInfrastructure Economics and Finance::Private Participation in Infrastructure
okr.unitDevelopment Research Group (DECRG)
okr.volume1 of 1
relation.isSeriesOfPublication26e071dc-b0bf-409c-b982-df2970295c87
relation.isSeriesOfPublication.latestForDiscovery26e071dc-b0bf-409c-b982-df2970295c87
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