The Transformation of Corporate Governance in Emerging Markets: Reform, Convergence, and Diversity

Thomas Clarke

Emerging Markets Finance and Trade, 2015, vol. 51, issue S2, S25-S46

Abstract: This article focuses on the continuing tensions among the international movement for corporate governance reforms throughout emerging economies, the insistent capital market pressures for convergence of emerging economies’ corporate governance toward international standards, the vibrant cultural and institutional tendencies in emerging economies toward diversity in their corporate governance institutions and practices, and how these distinctive cultures and institutions of emerging economies represent a vital differentiator that might delineate much of the business development of these countries. A brief survey of the business models and corporate governance of the major BRICS economies demonstrates the considerable differentiation that exists among them, but even more so, with the exception of South Africa, the BRICS economies stand in contrast to the Anglo-American model of developed legal and regulatory structures and market-oriented corporate governance. This suggests a vitality in the diversity of governance and institutions, which can continue to deliver high rates of business growth and economic development.

Date: 2015
References: Add references at CitEc
Citations: View citations in EconPapers (3)

Downloads: (external link)
http://hdl.handle.net/10.1080/1540496X.2014.998941 (text/html)
Access to full text is restricted to subscribers.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:mes:emfitr:v:51:y:2015:i:s2:p:s25-s46

Ordering information: This journal article can be ordered from
http://www.tandfonline.com/pricing/journal/MREE20

DOI: 10.1080/1540496X.2014.998941

Access Statistics for this article

More articles in Emerging Markets Finance and Trade from Taylor & Francis Journals
Bibliographic data for series maintained by Chris Longhurst ().