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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:
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Political power and corporate control
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The relationship between financial sector development and corporate governance
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Board composition and the role of the board, and their implications on corporate performance
Other topics included
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The role of stakeholders in emerging markets and sustainable development
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Corporate governance and enforcement mechanisms.
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.
About IFC
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
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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
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About the Asian Institute of Corporate Governance
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://163.152.84.199/
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