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Emerging Markets Corporate Governance Research Network

Research on corporate governance, until recently, has been generated against experiences and events in the developed markets by using data relevant to these markets. The outcome of research as such has not always been appropriate or relevant as the basis for analysis of reform considerations for developing countries.

To promote the corporate governance policy agenda in emerging markets and transition economies, the Forum has supported and endorsed a network of leading academics under the auspices of its Emerging Markets Corporate Governance Research Network to:

  • Inform the Forum on the most recent literature on corporate governance and development,
  • Identify priorities for future research in the Forum's areas of activity,
  • Generate and publish discussion papers and research working papers, and
  • Promote a research strategy that supports academic research capacity in developing countries on corporate governance.
The network was kicked off by the one-day workshop on the Future of Research on Corporate Governance in Developing and Emerging Markets held by the GCGF at the World Bank in April 2002. Currently, the Network is coordinated by Melsa Ararat, Director of Corporate Governance Forum of Turkey and professor at Sabanci University with the support of Burcin Yurtoglu, professor at Vienna University.

The aim of the network is to raise the academic quality of research on CG in emerging markets, to foster international exchange among scholars in all regions and to enhance the dialogue of researchers with policy makers and the private sector. Structured dialogues between academics and practitioners on the implications of research for policy development and on the real world challenges can play very useful roles in setting research agenda. Activities of the network involve conferences, seminars and workshops and the sharing of papers and data.

With GCGF's global reach and deeper impact, GCGF has the unique capacity to help the Network by acting as a catalyst, bring different regions and groups together and provide the Network with its valuable insights from practitioners and policy makers.

Members


Events

The Network organizes biannual international academic conferences where the forthcoming issues in corporate governance are identified and broad lessons of corporate governance in developing countries are drawn. The conferences include policy makers and practitioners.

First International Conference on Corporate Governance in Emerging Markets, Istanbul, November 2007.

Second International Conference on Corporate Governance in Emerging Markets, Sao Paulo, July 2009.

Workshops are held in between the global conferences where a small number of senior, international researchers and practitioners interact with a small group of more junior researchers. The First workshop on Corporate Governance in Emerging Markets was held in Yale University, Millstein Center of Corporate Governance and Performance. For more details and downloading papers please click here. For the workshop report, please click here.


Activity Reports

Country-Specific Research

China

What Makes Privatization Work? The Case of China, Chenggang Xu

Succession: The Roles of Specialized Assets and Transfer Costs, Joseph Fan

Colombia

Cross-shares, Broad Structure and Firm Performance in Emerging Markets, Carlos Pombo

Egypt

Developing Nations and Corporate Governance: The Story of Egypt, Khaled Dahawy

Romania

Delisting Decisions of Frontier Emerging Markets: An Institutional Profile of Going to Private Transactions in Romania, Diana Pop

Turkey

Moral Hazard, Corporate Governance, and Bank Failure: Evidence from the 2000-2001 Turkish Crisis, Canan Yildirim

Southeast European countries (Slovenia, Croatia and Montenegro)
Agent's Response to Inefficient Judiciary: Social Norms and the Law in Transition, Alexandra Gregoric, Marko Simoneti, and Katarina Zajc