05146oam 22012014 450 991097254070332120250426110654.097866138306789781462374007146237400X978145270977214527097779781283518222128351822897814519100631451910061(CKB)3360000000443991(EBL)3012524(SSID)ssj0001474012(PQKBManifestationID)11803596(PQKBTitleCode)TC0001474012(PQKBWorkID)11449442(PQKB)11610753(OCoLC)568151248(IMF)WPIEE2006293(MiAaPQ)EBC3012524(IMF)WPIEA2006293WPIEA2006293(EXLCZ)99336000000044399120020129d2006 uf 0engur|n|---|||||txtccrCorporate Governance Quality : Trends and Real Effects /Kenichi Ueda, Gianni De Nicolo, Luc Laeven1st ed.Washington, D.C. :International Monetary Fund,2006.1 online resource (43 p.)IMF Working Papers"December 2006."9781451865530 1451865538 Includes bibliographical references (p. 39-41).""Contents""; ""I. INTRODUCTION""; ""II. THE CGQ INDEX""; ""III. TRENDS IN CORPORATE GOVERNANCE QUALITY""; ""IV. THE REAL EFFECTS OF CORPORATE GOVERNANCE QUALITY""; ""V. CONCLUSION""; ""References""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, corporate governance quality in most countries has overall improved, although to varying degrees and with a few notable exceptions. Second, the data exhibit cross-country convergence in corporate governance quality with countries that score poorly initially catching up with countries with high corporate governance scores. Third, the impact of improvements in corporate governance quality on traditional measures of real economic activity-GDP growth, productivity growth, and the ratio of investment to GDP- is positive, significant, and quantitatively relevant, and the growth effect is particularly pronounced for industries that are most dependent on external finance.IMF Working Papers; Working Paper ;No. 2006/293Corporate governanceCorporate governanceEconomic aspectsCapacityimfCapital and Total Factor ProductivityimfCorporate Finance and Governance: Government Policy and RegulationimfCorporate GovernanceimfCorporate governanceimfCostimfFinanceimfFinance: GeneralimfFinancial Markets and the MacroeconomyimfFinancial sector developmentimfFinancial services industryimfGeneral Financial Markets: General (includes Measurement and Data)imfIndustrial productivityimfMacroeconomicsimfMarket capitalizationimfProduction and Operations ManagementimfProductionimfRole & responsibilities of boards & directorsimfStock exchangesimfStock marketsimfTotal factor productivityimfChina, People's Republic ofimfCorporate governance.Corporate governanceEconomic aspects.CapacityCapital and Total Factor ProductivityCorporate Finance and Governance: Government Policy and RegulationCorporate GovernanceCorporate governanceCostFinanceFinance: GeneralFinancial Markets and the MacroeconomyFinancial sector developmentFinancial services industryGeneral Financial Markets: General (includes Measurement and Data)Industrial productivityMacroeconomicsMarket capitalizationProduction and Operations ManagementProductionRole & responsibilities of boards & directorsStock exchangesStock marketsTotal factor productivityUeda Kenichi1815625De Nicolo Gianni375199Laeven Luc1795065International Monetary Fund.Research Dept.DcWaIMFBOOK9910972540703321Corporate Governance Quality4371135UNINA