Turkey, November 17, 2007 — The IFC Global
Corporate Governance Forum and the Asian Institute of Corporate Governance
recently sponsored the International Research Conference on Corporate
Governance in Emerging Markets. The first of its kind to link academic
research with practical application, the conference yielded new thinking
and new approaches to corporate governance research in emerging markets.
It focused on:
- Political power and corporate control
- The relationship between financial sector
development and corporate governance
- Board composition and the role of the
board, and their implications on corporate performance
Other topics included
- The role of stakeholders in emerging
markets and sustainable development
- Corporate governance and enforcement
Dr. Mark Roe, David Berg Professor of
Law at the Harvard Law School, made a keynote address on political instability
and corporate governance. Leading regulators, private sector executives,
and government figures from Malaysia, the Netherlands, Panama, the Philippines,
Spain, and the United Kingdom addressed research priorities and their implications
on policy development. They also contextualized research findings to identify
areas in need of reform.
About 50 local and international leading
scholars and 140 participants from 31 countries reviewed the major findings
and gaps in empirical research on corporate governance in emerging markets.
They also queried the relevance of firm-level indicators in emerging markets.
The conference was hosted by the Faculty
of Management at Sabanci University in Istanbul in Turkey.
For more information, visit the conference
Web site at http://www.ifc.org/emcgn2007.
IFC, a member of the World Bank Group,
fosters sustainable economic growth in developing countries by financing
private sector investment, mobilizing private capital in local and international
financial markets, and providing advisory and risk mitigation services
to businesses and governments. IFC’s vision is that poor people have the
opportunity to escape poverty and improve their lives. In fiscal
year 2007, IFC committed $8.2 billion and mobilized an additional $3.9
billion through loan participations and structured finance for 299 investments
in 69 developing countries. IFC also provided advisory services in
97 countries. For more information, visit www.ifc.org.
IFC Global Corporate Governance Forum
The Global Corporate Governance Forum
is an IFC multidonor trust fund facility, which was cofounded by the World
Bank and the Organisation for Economic Co-operation and Development in
1999. Through its activities, the forum aims to promote the private
sector as an engine of growth, reduce the vulnerability of developing and
transition economies to financial crisis, and provide incentives for corporations
to invest and perform efficiently in a socially responsible manner. It
sponsors regional and local initiatives that address the corporate governance
weaknesses of middle- and low-income countries in the context of broader
national or regional economic reform programs. Its donors include
IFC and the governments of Canada, France, Luxembourg, the Netherlands,
Norway, Sweden, and Switzerland. For more information, visit www.gcgf.org.
About the Asian Institute of Corporate
The Asian Institute of Corporate Governance
at Korea University is the primary research institute on corporate governance
issues in Asia. It provides a stimulating environment to encourage top-rated
academic research, develop government policy implications, and provide
training programs for top-level business managers. AICG’s research will
also cover general corporate governance issues that are not directly related
to Asian countries to understand such issues better, and to apply the principles
in Asia. For more information, visit http://126.96.36.199/.