Securities market and corporate governance of privatised firms

International Journal of Business Governance and Ethics 2 (s 3-4):254-279 (2006)
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The purpose of this paper is to provide a model linking enforcement of institutional environment and reform of corporate governance of firms. It is argued that in the context of weak enforcement environment in transition economies, institutional factors in securities markets are effective in shifting corporate governance model of the privatised firms towards a market-based model that ensures a sustainable economic performance. The empirical study in the Vietnamese securities market supports this argument.



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