Tuesday , July 27 2021
Home / Book / East Asian Corporations: Heroes or Villains? (World Bank Discussion Papers)

East Asian Corporations: Heroes or Villains? (World Bank Discussion Papers)

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.

Amazon Store: amazon.com

Author: Simeon Djankov, Larry H. P Lang,

Editor/Translator: Anders Aslund, Simeon Djankov,

Binding: Paperback

Condition: New

Manufacturer: World Bank Publications

Number of pages: 44

Product group: Book

Studio: World Bank Publications

Publication Date: February 14, 2000

Publisher: World Bank Publications

Pages: 44

EAN: 9780821346310

ISBN: 0821346318

ASIN: 0821346318

View this book in Amazon

Simeon Djankov
Simeon Djankov, nonresident senior fellow at the Peterson Institute for International Economics, was deputy prime minister and minister of finance of Bulgaria from 2009 to 2013. In this capacity, he represented his country at the Ecofin meetings of finance ministers in Brussels. Prior to his cabinet appointment, Djankov was chief economist of the finance and private sector vice presidency of the World Bank.