Tokyo, Japan, February 27, 2004—
The Global Corporate Governance Forum of the World Bank announced today the launch of a new network of leading researchers from more than 40 countries who will work together to develop viable, practical solutions to corporate governance challenges facing developing countries.
The Global Corporate Governance Academic Network (GCGAN) will convene the intellectual power of the world’s leading academics to an issue that dominates headlines worldwide.
The network was announced today at a corporate governance workshop organized by the Center for Economic Institutions (CEI) at Hitotsubashi University and the Center for Corporate Governance at the Hong Kong University of Science and Technology (HKUST). Anne Simpson,
Head of the Secretariat of Global Corporate Governance Forum said, “The work of these researchers is critically needed. Research tailored to developing countries is vital to helping these countries reform their corporate governance practices. But they require evidence and rigorous analysis before they will take action. The Global Corporate Governance Forum is proud to have sponsored the Network.”
Much of the corporate governance literature to date has focused upon the markets in developed countries – the United State, United Kingdom, and continental Europe. This initiative is important because it is addressing the issues faced by developing countries that cannot simply cut and paste solutions from the experiences of the wealthiest countries. The Network is intended to help developing countries in practical corporate governance reform.
Ira M. Millstein, Senior Partner at Weil, Gotshal & Manges, LLP, and Chairman of the Global Corporate Governance Forum’s Private Sector Advisory Group, mentioned that
“Corporate governance reform is critical for developing countries seeking access to the capital they need to fund sustainable growth and thereby tackle poverty. The high quality research of this newly formed network helps both the private sector and the public sector understand better how to structure the reform process to maximize the potential for growth."
The GCGAN, supported by the Global Corporate Governance Forum, Yale’s International Institute of Corporate Governance, and the Asian Institute of Corporate Governance, will gather Senior Research Fellows and hold regional and topical conferences, as well as it will organize one major academic conference a year.
Professors Stijn Claessens, University of Amsterdam, and Florencio Lopez-de-Silanes, Yale University, will be the first Co-chairs of its Board. Further information can be found on the website of the network:
http://gcgan.som.yale.edu/
The Global Corporate Governance Forum was co-founded by the Bank Group and the OECD. It promotes global, regional and local initiatives that support corporate governance reform in developing and emerging markets. Its donors include the governments of India, Luxembourg, the Netherlands, Norway, Sweden, Switzerland, the United Kingdom, and the United States. For more information, please visit
http://www.gcgf.com/
, or send an email to
cgsecretariat@worldbank.org
APPENDIX A:
FOUNDING BOARD OF DIRECTORS
Black, Bernard (Stanford University)
Berglöf, Erik (Stockholm School of Economics)
Coffee, John (University of Columbia)
La Porta, Rafael (Dartmouth University)
Levine, Ross (University of Minnesota)
Mayer, Colin (Said Business School, Oxford)
Morck, Randall (University of Alberta)
Perotti, Enrico (University of Amsterdam)
Rajan, Raghuram (University of Chicago, IMF)
Shleifer, Andrei (Harvard University)
Stulz, René (Ohio State University)
Zingales, Luigi (University of Chicago)
Ex-officio
Co-chairs
Claessens, Stijn (University of Amsterdam)
Lopez-de-Silanes, Florencio (Yale University)
Global Corporate Governance Forum
Simpson, Anne (Manager)
OECD
Isaksson, Mats
Private Sector Advisory Group
Millstein, Ira (Chairman, Private Sector Advisory Group)
Regional
Becht, Marco (European Corporate Governance Institute, ECGI)
Jang, Hasung (Asian Institute of Corporate Governance AICG)
Leal, Ricardo (COPPEAD)
Okeahalam, Charles (University of the Witwatersrand)
APPENDIX B:
SENIOR RESEARCH FELLOWS
Aggarwal, Reena, (Georgetown University)
Allayannis, George (University of Virginia)
Allen, Franklin (Wharton School)
Bae, Kee-Hong (Korea University)
Bebchuk, Lucian (Harvard University)
Beck, Thorsten (World Bank)
Becht, Marco (ECARES, Brussels)
Berglöf, Erik (Stockholm School of Economics)
Bhattacharya, Utpal (Indiana University)
Black, Bernard (Stanford University)
Boot, Arnoud (University of Amsterdam)
Bolton, Patrick (Princeton University)
Bris, Arturo (Yale University)
Burkart, Mike (Stockholm School of Economics)
Chowdhry, Bhagwan (UCLA)
Claessens, Stijn (University of Amsterdam)
Coffee, John (Columbia University)
Demirguc-Kunt, Asli (World Bank)
Denis, Diane (Purdue University)
Djankov, Simeon (World Bank)
Dyck, Alexander (Harvard University)
Eckbo, Espen (Dartmouth University)
Fan, Joseph (Hong Kong University of Science and Technology)
Franks, Julian (London Business School)
Giannetti, Mariassunta (Stockholm School of Economics)
Gompers, Paul (Harvard University)
Gromb, Denis (London Business School)
Guriev, Sergei (New Economics School, Moscow)
Holmstrom, Bengt (MIT)
Ishii, Joy (Harvard University)
Jang, Hasung (Korea University)
Joh, Song Wook (Korea University)
Johnson, Simon (MIT)
Kang, Jun-Koo (Michigan State University)
Khanna, Tarun (Harvard Business School)
Kim, E. Han (University of Michigan)
Klapper, Leora (World Bank)
Kroszner, Randall (University of Chicago)
La Porta, Rafael (Dartmouth University)
Lang, Larry (Chinese University of Hong Kong)
Laeven, Luc (World Bank)
Leal, Ricardo (COPPEAD, Rio de Janeiro)
Lee, Inmoo (Korea University)
Levine, Ross (University of Minnesota)
Lins, Karl (University of Utah)
Love, Innesa (World Bank)
Lopez-de-Silanes, Florencio (Yale University)
Macey, John (Cornell University)
Mayer, Colin (Said Business School)
McConnell, John (Dartmouth University)
Megginson, William (University of Oklahoma)
Metrick, Andrew (Wharton School)
Mork, Randall (University of Alberta)
Mullainathan, Sendhil (MIT)
Okeahalam, Charles (University of the Witwatersrand)
Panunzi, Fausto (University of Bologna)
Pagano, Marco (University of Naples)
Palepu, Krishna (Harvard Business School)
Park, Kyung-suh (Korea University)
Perotti, Enrico (University of Amsterdam)
Pistor, Katharina (Columbia University)
Puri, Manju (Stanford University)
Rajan, Raghuram (University of Chicago)
Roëll, Alisa (Princeton University)
Ritter, Jay (University of Florida)
Roe, Mark (Stanford University)
Sapienza, Paola (Northwestern University)
Senbet, Lemma (University of Maryland)
Servaes, Henri (London Business School)
Shleifer, Andrei (Harvard University)
Skeel, David (University of Pennsylvania)
Starks, Laura (University of Texas at Austin)
Stulz, René (Ohio State University)
Titman, Sheridan (University of Texas at Austin)
Vishny, Robert (University of Chicago)
Volpin, Paolo (London Business School)
Von Thadden, Elu (University of Laussanne)
Walker, Eduardo (University Catolica de Chile)
Wei, John (Hong Kong University of Science and Technology)
Wiwattanakantang, Yupana (Hitotsubashi University)
Wong, T J (Hong Kong University of Science and Technology)
Xu, Chenggang (London School of Economics)
Yafeh, Yishay (Hebrew University)
Yeung, Bernand (New York University)
Zechner, Joseph (University of Vienna)
Zingales, Luigi (University of Chicago)
