What drives corporate governance reform? firm-level evidence from Eastern Europe, Vol. 1 of 1

About

Countries

Data & Research

Learning

News

Projects & Operations

Publications

Topics

Home > Data & Research > Author Profile > Report Details

What drives corporate governance reform? firm-level evidence from Eastern Europe

Author:	Klapper, Leora F; Laeven, Luc; Love, Inessa;	Collection Title:	Policy, Research working paper ; no. WPS 3600
Country:	South Eastern Europe and Balkans;	Date Stored:	2005/06/01
Document Date:	2005/05/01	Document Type:	Policy Research Working Paper
Language:	English	Region:	Europe and Central Asia
Report Number:	WPS3600	SubTopics:	Small Scale Enterprise; Financial Crisis Management & Restructuring; National Governance; Microfinance; Private Participation in Infrastructure
Volume No:	1 of 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 Type		Description	File Size (mb)

	PDF 28 pages	Official version*	0.36
	Text	Text version**

* 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: http://go.worldbank.org/4UG8M9I6O0