The corporate governance lifecycle in emerging markets – the case of the Republic of Korea

IF 5.5 Q1 BUSINESS

Corporate Governance-The International Journal of Business in Society Pub Date : 2023-02-08 DOI:10.1108/cg-10-2022-0422

Bridget McNally, Thomas O'Connor

引用次数: 0

Abstract

Purpose This paper aims to examine the impact of the corporate lifecycle on the corporate governance practices of firms in the Republic of Korea. Design/methodology/approach The authors use five corporate lifecycle measures and corporate governance scores from Black et al. (2012) to estimate governance-prediction models inclusive of corporate lifecycles measures for a sample of 497 Republic of Korea firms over the 1998–2004 period. Findings The authors find little evidence which points to a corporate governance lifecycle for firms in the Republic of Korea. The findings suggest that factors other than firm lifecycle best explain the corporate governance practices of firms in Korea. Originality/value Using a battery of lifecycle measures and corporate governance indexes and subindexes, the authors believe this paper represents the most rigorous study yet to study the corporate governance lifecycle in an emerging market economy, namely, the Republic of Korea.

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新兴市场的公司治理生命周期——以大韩民国为例

本文旨在研究公司生命周期对韩国公司治理实践的影响。设计/方法/方法作者使用Black等人(2012)的五种公司生命周期度量和公司治理得分来估计1998-2004年期间497家韩国公司样本的包括公司生命周期度量的治理预测模型。研究结果:作者发现，几乎没有证据表明韩国公司存在公司治理生命周期。研究结果表明，企业生命周期以外的因素最能解释韩国企业的公司治理实践。原创性/价值通过使用一系列生命周期度量和公司治理指标和子指标，作者认为本文代表了迄今为止研究新兴市场经济体(即韩国)公司治理生命周期的最严格的研究。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Corporate Governance-The International Journal of Business in Society BUSINESS-

CiteScore

11.20

自引率

33.90%

发文量

期刊介绍： Providing a consistent source of in-depth information, analysis and advice considering corporate governance on an international scale, Corporate Governance: The International Journal of Business in Society focuses on knowledge development, practice and performance standards for scholars and Boards of Directors/ Governors of companies throughout the world. The journal publishes a diverse range of substantive theoretical and methodological debates as well as practical developments in the field of corporate governance worldwide. The journal particularly encourages attention to the impact of changes of business/corporate governance forms and practices on people, and the sustainability of different governance models. Articles that highlight models and structures that advance the interests, dignity and well being of all stakeholders, in a sustainable manner, are particularly welcome. The journal covers a broad spectrum of governance-related themes including: -Effective boardroom performance -Control and regulation -Executive leadership -The role and contribution of external (non-executive) directors -The growing importance of governance in the wake of ever-greater corporate scandals -Redefinitions and reassessments of corporate governance models -The role of business in society -The changing nature of the relationship and responsibilities of the firm towards various stakeholders -The incentives required to encourage more socially- and environmentally-responsible corporate action -The role and impact of local and international regulatory agencies and regimes on corporate behaviour.