LEADER 04947oam 22011174 450 001 9910815304803321 005 20240410162209.0 010 $a1-4623-7400-X 010 $a1-4527-0977-7 010 $a1-283-51822-8 010 $a1-4519-1006-1 010 $a9786613830678 035 $a(CKB)3360000000443991 035 $a(EBL)3012524 035 $a(SSID)ssj0001474012 035 $a(PQKBManifestationID)11803596 035 $a(PQKBTitleCode)TC0001474012 035 $a(PQKBWorkID)11449442 035 $a(PQKB)11610753 035 $a(OCoLC)568151248 035 $a(MiAaPQ)EBC3012524 035 $a(IMF)WPIEE2006293 035 $a(EXLCZ)993360000000443991 100 $a20020129d2006 uf 0 101 0 $aeng 135 $aur|n|---||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCorporate Governance Quality : $eTrends and Real Effects /$fKenichi Ueda, Gianni De Nicolo, Luc Laeven 205 $a1st ed. 210 1$aWashington, D.C. :$cInternational Monetary Fund,$d2006. 215 $a1 online resource (43 p.) 225 1 $aIMF Working Papers 300 $a"December 2006." 311 $a1-4518-6553-8 320 $aIncludes bibliographical references (p. 39-41). 327 $a""Contents""; ""I. INTRODUCTION""; ""II. THE CGQ INDEX""; ""III. TRENDS IN CORPORATE GOVERNANCE QUALITY""; ""IV. THE REAL EFFECTS OF CORPORATE GOVERNANCE QUALITY""; ""V. CONCLUSION""; ""References"" 330 3 $aThis paper constructs a composite index of corporate governance quality, documents its evolution from 1994 through 2003 in selected emerging and developed economies, and assesses its impact on aggregate and corporate growth and productivity. Our investigation yields three main findings. First, corporate governance quality in most countries has overall improved, although to varying degrees and with a few notable exceptions. Second, the data exhibit cross-country convergence in corporate governance quality with countries that score poorly initially catching up with countries with high corporate governance scores. Third, the impact of improvements in corporate governance quality on traditional measures of real economic activity-GDP growth, productivity growth, and the ratio of investment to GDP- is positive, significant, and quantitatively relevant, and the growth effect is particularly pronounced for industries that are most dependent on external finance. 410 0$aIMF Working Papers; Working Paper ;$vNo. 2006/293 606 $aCorporate governance 606 $aCorporate governance$xEconomic aspects 606 $aFinance: General$2imf 606 $aProduction and Operations Management$2imf 606 $aCorporate Governance$2imf 606 $aCorporate Finance and Governance: Government Policy and Regulation$2imf 606 $aFinancial Markets and the Macroeconomy$2imf 606 $aProduction$2imf 606 $aCost$2imf 606 $aCapital and Total Factor Productivity$2imf 606 $aCapacity$2imf 606 $aGeneral Financial Markets: General (includes Measurement and Data)$2imf 606 $aCorporate governance$2imf 606 $arole & responsibilities of boards & directors$2imf 606 $aFinance$2imf 606 $aMacroeconomics$2imf 606 $aTotal factor productivity$2imf 606 $aFinancial sector development$2imf 606 $aStock markets$2imf 606 $aMarket capitalization$2imf 606 $aFinancial services industry$2imf 606 $aIndustrial productivity$2imf 606 $aStock exchanges$2imf 607 $aChina, People's Republic of$2imf 615 0$aCorporate governance. 615 0$aCorporate governance$xEconomic aspects. 615 7$aFinance: General 615 7$aProduction and Operations Management 615 7$aCorporate Governance 615 7$aCorporate Finance and Governance: Government Policy and Regulation 615 7$aFinancial Markets and the Macroeconomy 615 7$aProduction 615 7$aCost 615 7$aCapital and Total Factor Productivity 615 7$aCapacity 615 7$aGeneral Financial Markets: General (includes Measurement and Data) 615 7$aCorporate governance 615 7$arole & responsibilities of boards & directors 615 7$aFinance 615 7$aMacroeconomics 615 7$aTotal factor productivity 615 7$aFinancial sector development 615 7$aStock markets 615 7$aMarket capitalization 615 7$aFinancial services industry 615 7$aIndustrial productivity 615 7$aStock exchanges 700 $aUeda$b Kenichi$01610668 701 $aDe Nicolo$b Gianni$0375199 701 $aLaeven$b Luc$01593549 712 02$aInternational Monetary Fund.$bResearch Dept. 801 0$bDcWaIMF 906 $aBOOK 912 $a9910815304803321 996 $aCorporate Governance Quality$94087761 997 $aUNINA