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The corporate governance policies of institutional investors and its implication in Korean firms

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The Corporate Governance Policies of Institutional Investors and its Application in Korean firms
By Tong-Wook Shim
Since the Financial Crisis in Korea there have been numerous changes in corporate governance in both the private and public sectors. The increasing involvement of foreign investors in the restructuring process challenged Korean companies to further evolve their corporate governance systems. Corporate governance seeks to define the structural relationship among shareowners, the board and management. Ultimately corporate governance aims to raise transparency as well as the accountability of management to shareowners, while avoiding agency costs. Many studies have found a strong positive correlation between good corporate governance and companies’ performance; good corporate governance, it is widely believed, lowers the cost of capital in the long run. Effective corporate governance implies several virtues including the maximization of profits (and reduction of corruption) that are seen as necessary elements of a healthy market. Many worldwide institutions, including the Organization for Economic Cooperation and Development (OECD), feel the need to outline principles of corporate governance. Another recent social phenomenon is the institutionalization in the stock market. Institutional investors now hold between 50 to 60% of all shares; this rate is increasing as is the rate of international diversification. The California Public Employee’s
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Retirement System


Full Text
Title The corporate governance policies of institutional investors and its implication in Korean firms
Similar Titles
Material Type Articles
Author(English)

Shim, Tong-Wook

Publisher

[Seoul]:KDI School of Public Policy and Management

Date 2002
Pages 75
Subject Country South Korea(Asia and Pacific)
Language English
File Type Documents
Original Format pdf
Subject Industry and Technology < Entrepreneurship
Holding KDI School of Public Policy and Management

User Note

Thesis(Master)