Corporate Governance Quality: Trends and Real Effects
This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First, corpo...
Gespeichert in:
| 1. Verfasser: | |
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| Format: | Elektronisch E-Book |
| Sprache: | English |
| Veröffentlicht: |
Washington, D.C
International Monetary Fund
2006
|
| Schriftenreihe: | IMF Working Papers
Working Paper No. 06/293 |
| Online-Zugang: | UBW01 UEI01 LCO01 SBR01 UER01 SBG01 UBG01 FAN01 UBT01 FKE01 UBY01 UBA01 FLA01 UBM01 UPA01 UBR01 FHA01 FNU01 BSB01 TUM01 Volltext |
| Zusammenfassung: | This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First, corporate governance quality in most countries has overall improved, although to varying degrees and with a few notable exceptions. Second, the data exhibit cross-country convergence in corporate governance quality with countries that score poorly initially catching up with countries with high corporate governance scores. Third, the impact of improvements in corporate governance quality on traditional measures of real economic activity-GDP growth, productivity growth, and the ratio of investment to GDP- is positive, significant, and quantitatively relevant, and the growth effect is particularly pronounced for industries that are most dependent on external finance |
| Beschreibung: | 1 Online-Ressource (41 p) |
| ISBN: | 1451865538 9781451865530 |
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| indexdate | 2024-07-10T09:35:31Z |
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| spelling | Ueda, Kenichi Verfasser aut Corporate Governance Quality Trends and Real Effects Ueda, Kenichi Washington, D.C International Monetary Fund 2006 1 Online-Ressource (41 p) txt rdacontent c rdamedia cr rdacarrier IMF Working Papers Working Paper No. 06/293 This paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First, corporate governance quality in most countries has overall improved, although to varying degrees and with a few notable exceptions. Second, the data exhibit cross-country convergence in corporate governance quality with countries that score poorly initially catching up with countries with high corporate governance scores. Third, the impact of improvements in corporate governance quality on traditional measures of real economic activity-GDP growth, productivity growth, and the ratio of investment to GDP- is positive, significant, and quantitatively relevant, and the growth effect is particularly pronounced for industries that are most dependent on external finance Online-Ausg De Nicoló, Gianni Sonstige oth Laeven, Luc Sonstige oth http://elibrary.imf.org/view/IMF001/01382-9781451865530/01382-9781451865530/01382-9781451865530.xml Verlag URL des Erstveröffentlichers Volltext |
| spellingShingle | Ueda, Kenichi Corporate Governance Quality Trends and Real Effects |
| title | Corporate Governance Quality Trends and Real Effects |
| title_auth | Corporate Governance Quality Trends and Real Effects |
| title_exact_search | Corporate Governance Quality Trends and Real Effects |
| title_exact_search_txtP | Corporate Governance Quality Trends and Real Effects |
| title_full | Corporate Governance Quality Trends and Real Effects Ueda, Kenichi |
| title_fullStr | Corporate Governance Quality Trends and Real Effects Ueda, Kenichi |
| title_full_unstemmed | Corporate Governance Quality Trends and Real Effects Ueda, Kenichi |
| title_short | Corporate Governance Quality |
| title_sort | corporate governance quality trends and real effects |
| title_sub | Trends and Real Effects |
| url | http://elibrary.imf.org/view/IMF001/01382-9781451865530/01382-9781451865530/01382-9781451865530.xml |
| work_keys_str_mv | AT uedakenichi corporategovernancequalitytrendsandrealeffects AT denicologianni corporategovernancequalitytrendsandrealeffects AT laevenluc corporategovernancequalitytrendsandrealeffects |