Study on Corporate Governance in Emerging Markets: A Focus on Compliance of South African and South Korean Listed Companies

• 발행기관: 한국무역학회
• 저자명: Joseph Kwaku Ahialey Ho-Jung Kang
• 간행물 정보: 『Journal of Korea Trade (JKT)』Vol.23 No.6, 93~112쪽, 전체 20쪽
• 주제분류: 경제경영 > 무역학
• 파일형태: PDF
• 발행일자: 2019.10.31

영문 초록

Purpose - First, this study contextually examines the governance codes of South Africa and South Korea. Second, it analyzes board features of South African (JSE) Mainboard and South Korean (KRX) KOSPI-listed companies. Design/methodology - This review is qualitative and uses data from the annual reports of the selected markets’ companies, respective exchanges’ official web sites and corporate governance-related web sites in order to examine the corporate governance practices in the two markets. In addition, Nvivo is employed in analyzing the content of the corporate governance codes of the selected countries. Findings - Our analysis indicates that the corporate governance codes of the two countries are evolving to keep up with the international trend of principles-based approach. The composition of the board of directors (BODs) of non-financial companies of both South Africa and South Korea shows no significant variation between the companies with regards to the executive (inside) and nonexecutive (outside) directors. On the contrary, there is a significant variation between South African and South Korean listed companies with respect to diversity. Originality/value - While previous studies are centered on the impact of governance codes on performance, this study intends to contextually evaluate the codes and features of South Africa and South Korea listed companies. This is essential and timely for regulators and policy makers given the importance of corporate governance features such as board independence and diversity in recent times.

목차

1. Introduction

2. Theoretical Background and Literature Review

3. Research Methodology

4. Corporate Governance Environment in South Africa and South Korea

5. Ownership Structure and Corporate Governance Features of Listed Firms

6. Conclusion and Policy Implications

References

키워드

Board of Directors Compliance JSE KRX Ownership Structure