Call for Papers Corporate Governance: An International Review Special Issue Conference on “Challenges in Corporate Governance in Emerging Economies” the 2nd Edinburgh Forum on Emerging Markets

• Published date: 01 May 2015
• DOI: http://doi.org/10.1111/corg.12110
• Date: 01 May 2015

Call for Papers

Corporate Governance:An International Review

Special Issue Conference on “Challenges in

Corporate Governance in Emerging Economies”

the 2nd Edinburgh Forum on Emerging Markets

Date and Venue

4-5 December 2015,

University of Edinburgh Business School, Edinburgh, UK, EH8 9JS

Keynote Speaker

David Yermack, NYU Stern - New York University

Conference Chair

Joseph Fan, Chinese University of Hong Kong

Guest Editors

Seth Armitage and Wenxuan Hou, University of Edinburgh Business School; Till Talaulicar, University of

Erfurt; Li Jin, University of Oxford and Peking University; Subrata Sarkar, Indira Gandhi Institute of

Development Research; Conference Link: http://edinburghforum.weebly.com

BACKGROUND

Corporate governance research in the context of emerging

economies has received increasingattention in recent years.

Corporate scandals and executive failures continue despite the

growing emphasis on governance reforms around the world

and the increasing activism of shareholders, governments and

other corporate stakeholders. Academics and practitioners are

becoming aware that f‌irm-level governance mechanisms at

work in different countries are embedded in national business

systems and are inf‌luenced by political, social and legal

macro-institutions. More specif‌ically, while governance ar-

rangements in developed economies are underpinned by

dispersed ownership, small managerial shareholdings, the

prevalence of standalone companies, and market-based transac-

tions, emerging economies are characterized by concentrated

ownership, pyramidal ownership structures, the dominance of

business groups, and high levels of related-party transactions.

Since the extent and nature of governance problems in

developed and emerging economies are different, so are the

f‌irm-levelgovernance solutions that aimto minimize the costs

of governance-related eff‌iciency losses. Whereas “bundles”of

governance mechanisms in developed economies rely on a

combination of board monitoring, executive compensation

and the marketfor corporate control, in therelationship-based

systems in emerging economies, a greater emphasis is

placed on the governance role of lending institutions, large

blockholders including family shareholders, and organiza-

tional governance hierarchies. In large emerging economies

suchas China and Russia, there is increasinginvolvementfrom

state agencies in running businesses, even when some of

their shares are listed on the stock exchanges. Governance

developments in specif‌ic countries also indicate that changes

in the economic environment, as well as changes in cultural,

political and legal institutions, have a profound impact on

the evolution of f‌irm-level governance mechanisms. In

© 2015 JohnWiley & Sons Ltd

doi:10.1111/corg.12110

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