Corporate Governance Determinants: The Firm-Level Evidence from Transitional Country, Ukraine
20 Pages Posted: 26 Apr 2006
Date Written: April 2006
This paper attempts to empirically investigate the determinants of choices of corporate governance practices by corporations in a transition market. The study offers firm-level evidence benefiting from unique financial and governance data on Ukraine. In particular, we analyze the factors that affect overall level as well as individual elements of corporate governance. We consider such governance elements as shareholder rights, transparency, board independence, chairman independence and ownership. Overall we found that regulatory, industry and firm level factors are important, which is consistent with previous literature for other countries.
Keywords: corporate governance, shareholder rights, information disclosure, board independence, Ukraine, transition, law and finance, corporate governance determinants
JEL Classification: G32, G34
Suggested Citation: Suggested Citation