Corporate Governance in the Asian Financial Crisis

Eric Friedman (), Simon Johnson, Peter Boone and Alasdair Breach
Additional contact information
Eric Friedman: Rutgers University
Peter Boone: The World Bank
Alasdair Breach: The World Bank

Departmental Working Papers from Rutgers University, Department of Economics

Abstract: The "Asian Crisis" of 1997-98 affected all the "emerging markets" open to capital flows. Measures of corporate governance, particularly the effectiveness of protection for minority shareholders, explain the extent of depreciation and stock market decline better than do standard macroeconomic measures. A possible explanation is that in countries with weak corporate governance, worse economic prospects result in more expropriation by managers and thus a larger fall in asset prices.

Keywords: Asian Crisis; corporate governance; Stealing (search for similar items in EconPapers)
Date: 1999-10-12
References: Add references at CitEc
Citations: View citations in EconPapers (17)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
Journal Article: Corporate governance in the Asian financial crisis (2000)
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:rut:rutres:199920

Access Statistics for this paper

More papers in Departmental Working Papers from Rutgers University, Department of Economics Contact information at EDIRC.
Bibliographic data for series maintained by ().