Corporate Governance, Value Creation and Growth

The Bridge between Finance and Enterprise

image of Corporate Governance, Value Creation and Growth

This publication examines the role of corporate governance arrangements in providing the right incentives to contribute to the value creation process within the private enterprises and the implications of the differences in ownership structures on corporate governance practices and frameworks. It also addresses these global changes from emerging markets perspective and the distinguishing features of these economies that shape their capital markets, corporate structures and corporate governance landscape.

This publication is an important reminder that all those corporate governance rules, regulations and practices that we discuss are not a goal in themselves. They are supposed to be means to a greater end. Be it minority rights, mandatory bids, or independent directors, the rules and regulations that we put in place should serve a purpose. And it is against this purpose and these objectives that the quality of any corporate governance system should be evaluated. So, we need to find a benchmark against which we can assess new regulations and evaluate existing ones.


Corporate Control and Incentives in a Dynamic Perspective

The subject of this chapter is entrepreneurship; Entrepreneurship and corporate governance. Entrepreneurs do things that have not been tried before. Their function in society is precisely to meet new challenges by embarking in uncertainty – a course of action whose odds cannot be calculated with any precision. The challenge for us, practitioners and academics, is to identify how corporate governance can support entrepreneurship. This is challenging as well because we do not know how to support something that is uncertain. Entrepreneurship is based on knowledge that is not possible to describe, let alone communicate.


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