Corporate Governance in a Market Economy

Dimitris N. Chorafas

Chapter 2 in Corporate Accountability, 2004, pp 23-45 from Palgrave Macmillan

Abstract: Abstract The first question relating to the title of this chapter is: what makes a market economy? In a nutshell, the answer is the six freedoms: freedom to enter the market, engage in competition, exit the market, set prices, make profits and, eventually, freedom to fail. There are, of course, other basic characteristics of a market economy, such as the need for market sensitivity, customer orientation, and rapid deliverables from research and development (R&D).

Keywords: Foreign Direct Investment; Corporate Governance; Market Economy; Credit Risk; Hedge Fund (search for similar items in EconPapers)
Date: 2004
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-0-230-50895-8_2

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DOI: 10.1057/9780230508958_2

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