ECU Libraries Catalog

East Asia Corporations : Heroes or Villains?

Author/creator Claessens, Stijn Contribution by
Other author/creatorDjankov, Simeon Author
Other author/creatorLang, Larry H. P. Author
Format Electronic and Book
Publication InfoWashington : World Bank Publications
Description44 p. ill
Supplemental Content Full text available from eBooks on EBSCOhost
Supplemental Content Full text available from eBooks on EBSCOhost
Series World Bank Discussion Paper Ser.
Summary Annotation East Asian corporations differ from their counterparts in other countries in important ways. Before the recent financial crisis these differences were viewed as one of the reasons for the success of East Asian economies. The crisis altered that view, and many scholars now argue that the weak corporate governance and financing structures of East Asian corporations are partly to blame for the recent crisis. This paper reviews several features of East Asian corporations, showing that they have high leverage and concentrated ownership, are typically affiliated with business groups, and operate in multiple industries. These characteristics affected the performance of corporations prior to the crisis as well as their ability to deal with its aftermath. Each economy's level of development also affected how these characteristics interacted with firm performance and valuation. Finally, the concentration of ownership in the hands of a few large families may have influenced economies' institutional development.
Access restrictionAvailable only to authorized users.
Technical detailsMode of access: World Wide Web
Genre/formElectronic books.
LCCN 99056596
ISBN0821346318 (Trade Paper) Out of Print
Standard identifier# 9780821346310
Stock number9780821346310 00028989

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