What drives corporate governance reform? firm-level evidence from Eastern Europe
By: Patricio Aroca Gonzalez ... [et al.].
Contributors: Aroca González, Patricio.; World Bank.
Series: Policy research working paper ;; 3600; Policy research working papers (Online) ;; 3600.
Publisher: World Bank
Published: 2005
Place of publication: [Washington, D.C
Language: eng
Format: Electronic resource
Subjects: Corporate governance -- Europe, Eastern.; Stock ownership -- Europe, Eastern.; Voting -- Europe, Eastern.
Description: "The authors study differences in the use of two corporate governance provisions - cumulative voting and proxy by mail voting - in a sample of 224 firms located in four Eastern European countries.  The report finds a significant relationship between ownership structure, and the use of corporate governance provisions.  Firms with a controlling owner (owning more than 50 percent of shares) are less likely to adopt either of the two provisions.  However, firms that have large, minority shareholders are more likely to adopt these provisions.  The authors do not find any significant relationship between the use of these provisions, and foreign ownership.  The results suggest that the decision to adopt these corporate governance provisions is influenced by large, minority shareholders in their battle for representation in the board, and in managerial decisions. "--World Bank web site.
Notes: Includes bibliographical references.
Title from PDF file as viewed on 8/24/2005.
Also available in print.
System requirements: Adobe Acrobat Reader.
Mode of access: World Wide Web.