Corporate Governance in Emerging Markets: A Selective Review and an Agenda for Future Research

24 Pages Posted: 9 Apr 2020

See all articles by Melsa Ararat

Melsa Ararat

Sabanci University - Sabancı Business School, Corporate Governance Forum

Stijn Claessens

Bank for International Settlements (BIS)

B. Burcin Yurtoglu

WHU - Otto Beisheim School of Management

Date Written: March 15, 2020

Abstract

In this review, we show how corporate governance reforms and research have been mutually reinforcing in emerging markets and propose a research agenda going forward. Acknowledging the broad recognition of corporate governance as a key development driver, we show how research on corporate governance in emerging markets has led research globally by focusing on the deep issues of ownership structures, property rights and organisational forms. Using the papers presented at the latest international conference of Emerging Markets Corporate Governance Research Network, we illustrate how analysis of board structures, specifically board gender diversity, has contributed to understanding of board dynamics and informed corporate governance reforms. Considering ongoing economic and socio-political trends, we then propose a research agenda for corporate governance in emerging markets in general.

Keywords: Corporate Governance, Emerging Markets, Boards, Board Diversity

JEL Classification: G18, G30, G34, G39, K22, K29

Suggested Citation

Ararat, Melsa and Claessens, Stijn and Yurtoglu, B. Burcin, Corporate Governance in Emerging Markets: A Selective Review and an Agenda for Future Research (March 15, 2020). Available at SSRN: https://ssrn.com/abstract=3554745 or http://dx.doi.org/10.2139/ssrn.3554745

Melsa Ararat

Sabanci University - Sabancı Business School, Corporate Governance Forum ( email )

Orhanli Tuzla
Istanbul, Orhanli, Tuzla 34956
Turkey
+90-2164839710 (Phone)
+90-2164839715 (Fax)

HOME PAGE: http://www.sabanciuniv.edu

Stijn Claessens

Bank for International Settlements (BIS) ( email )

Centralbahnplatz 2
CH-4002 Basel
Switzerland

B. Burcin Yurtoglu (Contact Author)

WHU - Otto Beisheim School of Management ( email )

Chair of Corporate Finance
Burgplatz 2
Vallendar, 56179
Germany
+49 261 6509-721 (Phone)
+49 261 6509-729 (Fax)

HOME PAGE: http://www.whu.edu/forschung/fakultaet/finance-group/corporate-finance/

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