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Audit Committees in Central Banks
Sullivan, Kenneth; Gilson, Marie-Thérèse Camilleri; … - International Monetary Fund (IMF) - 2007
accountability and good central bank governance. It outlines the motivations for the establishment of audit committees in commercial … bank. The paper focuses on the functions of an audit committee, since the terminology of the governance structure is often … implications for central bank legislation. …
Persistent link: https://www.econbiz.de/10005605398
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Germany's Corporate Governance Reforms; Has the System Become Flexible Enough?
Odenius, Jürgen - International Monetary Fund (IMF) - 2008
This article reviews Germany's corporate governance system and the effectiveness of recent reforms. Since the early 1990s far-reaching reforms have complemented the traditional stakeholder system with important elements of the shareholder system. Instead of taking a view on the superiority of...
Persistent link: https://www.econbiz.de/10005263885
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Banks and Labor As Stakeholders; Impacton Economic Performance
Ueda, Kenichi; Claessens, Stijn - International Monetary Fund (IMF) - 2008
affected by bank branch deregulation and employment protection occurring over 1972-1993. We find that financial liberalization … shareholders' rights, which itself is not significant. The findings suggest that financial liberalization operates mostly through …
Persistent link: https://www.econbiz.de/10005825652
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Corporate Governance Reforms in the EU; Do they Matter and How?
Ivaschenko, Iryna V.; Brooks, Petya Koeva - International Monetary Fund (IMF) - 2008
This paper proposes a new approach to quantifying the effects of corporate governance reforms, by focusing on the dynamics of the voting premiums, a measure of the private benefits of control in a corporation. The results indicate that the reforms have been successful in reducing the voting...
Persistent link: https://www.econbiz.de/10005825659
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Corporate Governance Quality; Trends and Real Effects
Ueda, Kenichi; Nicoló, Gianni De; Laeven, Luc - International Monetary Fund (IMF) - 2006
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,...
Persistent link: https://www.econbiz.de/10005769260
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The Impact of Corporate Governance Structureson the Agency Cost of Debt
Chan-Lau, Jorge A. - International Monetary Fund (IMF) - 2001
play an important role in diminishing conflicts between shareholders and debtholders. …
Persistent link: https://www.econbiz.de/10005599700
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Effects of Culture on Firm Risk-Taking; A Cross-Country and Cross-Industry Analysis
Mihet, Roxana - International Monetary Fund (IMF) - 2012
This paper investigates the effects of national culture on firm risk-taking, using a comprehensive dataset covering 50,000 firms in 400 industries in 51 countries. Risk-taking is found to be higher for domestic firms in countries with low uncertainty aversion, low tolerance for hierarchical...
Persistent link: https://www.econbiz.de/10011242211
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Portugal; Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy
International Monetary Fund (IMF); International … - 2007
This technical note on Investor Protection, Disclosure, and Financial Literacy for Portugal explains investor protection and corporate governance. Comissão do Mercado de Valores Mobiliários (CMVM) is the regulator in charge on ensuring compliance with disclosure issues as well as the corporate...
Persistent link: https://www.econbiz.de/10011242466
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Australia; Financial Sector Assessment Program: Technical Note: Investor Protection, Disclosure, and Financial Literacy
International Monetary Fund (IMF); International … - 2006
This study reviews selected issues on investor protection and corporate governance in Australia, and concludes that the corporate governance framework for Australian-listed companies is largely healthy and dynamic. Shareholder activism is an important element of corporate governance because it...
Persistent link: https://www.econbiz.de/10011243130
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Spain; The Reform of Spanish Savings Banks Technical Notes
International Monetary Fund (IMF); International … - 2012
This technical note assesses the reform of Spanish savings banks (SSBs). It provides a brief overview of the SSB institutional framework before the reform, and describes the main factors that led to the financial distress, albeit uneven, of the SSB sector. The note outlines major regulatory and...
Persistent link: https://www.econbiz.de/10011244106