Click here for search results
What drives corporate governance reform? firm-level evidence from Eastern Europe, Volume 1
Author:Klapper, Leora F; Laeven, Luc; Love, Inessa; Country:South Eastern Europe and Balkans;
Date Stored:2005/06/01Document Date:2005/05/01
Document Type:Policy Research Working PaperSubTopics:Microfinance; Small Scale Enterprise; Financial Crisis Management & Restructuring; National Governance; Private Participation in Infrastructure
Language:EnglishRegion:Europe and Central Asia
Report Number:WPS3600Collection Title:Policy, Research working paper ; no. WPS 3600
Volume No:1  

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.

Official Documents
Official, scanned versions of documents (may include signatures, etc.)
File TypeDescriptionFile Size (mb)
PDF 28 pagesOfficial version*0.36
TextText version**
How To Order

* The official version is derived from scanning the final, paper copy of the document and is the official,
archived version including all signatures, charts, etc.
** The text version is the OCR text of the final scanned version and is not an accurate representation of the final text.
It is provided solely to benefit users with slow connectivity.

Permanent URL for this page:

© 2016 The World Bank Group, All Rights Reserved. Legal