Chapter

Corporate Governance in Emerging Markets

Ruth V. Aguilera, Luiz Ricardo Kabbach de Castro, Jun Ho Lee and Jihae You

in Capitalisms and Capitalism in the Twenty-First Century

Published in print April 2012 | ISBN: 9780199694761
Published online September 2012 | e-ISBN: 9780191741289 | DOI: http://dx.doi.org/10.1093/acprof:oso/9780199694761.003.0014
Corporate Governance in Emerging Markets

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The turning of the twenty-first century has been marked by reforms in corporate governance practices around the world. Prevalent ways of doing business are changing with increasing demands for corporate transparency and accountability, shifts in ownership control, empowerment of new types of owner, and so on. Countries and firms have adapted their corporate governance policies and practices accordingly. This chapter explores the current patterns of the ownership structure of publicly listed firms in six emerging countries: Brazil, Chile, South Korea, Czech Republic, Hungary, and Poland in the beginning of the twenty-first century, and compare our data with existing research from the 1990s. The chapter concludes that, although concentration of corporate shareholdings continues to be a common denominator among these emerging countries, the processes and structures controlling firms are remarkably different.

Keywords: corporate ownership; emerging markets; Brazil; Chile; South Korea; Czech Republic; Hungary; Poland; international corporate governance

Chapter.  10360 words. 

Subjects: Organizational Theory and Behaviour

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