Corporate Governance in the Asian Financial Crisis

By Simon Johnson, P. Boone, A. Breach, Eric J. Friedman. 2000

1,849 citations recorded by the source corpus.

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Ownership structure and earnings informativeness: Evidence from Korea (2002, background): “Johnson et al. (2000) further argue that the controlling shareholders have strong incentives to siphon resources out of the firm to increase their wealth.14 Thus, they can easily expropriate minority investors in the chaebol by investing the firm’s resources to maximize their own or the group’s…”
Corporate governance in Greece: developments and policy implications (2005, background): “In addition, Johnson et al. (2000) and Mitton (1999) report how the weak CG worsened the 1997 Asian currency crises.”
Corporate Dollar Debt and Depreciations: Much Ado About Nothing? (2005, neutral): “1 Examples of these micro factors include short-term debt and financial panic (Radelet & Sachs, 1998); debt overhang (McKinnon & Pill, 1998); and poor corporate governance (Johnson et al., 2000).”
International Financial Crises: Causes, Prevention, and Cures (2000, background): “Simon Johnson et al. (2000) is particularly persuasive in highlighting the strength of domestic financial systems and institutions.”
Internal Capital Markets in Business Groups: Evidence from the Asian Financial Crisis (2014, positive): “The crisis can also exacerbate managers’ incentives to engage in tunneling and expropriation due to its impact on the expected rate of return on investment (Johnson et al., 2000).”