id sid tid token lemma pos emaj-17 1 1 microsoft microsoft PROPN emaj-17 1 2 word word NOUN emaj-17 1 3 17-264-1-ce.doc 17-264-1-ce.doc NUM emaj-17 1 4 volume volume NOUN emaj-17 1 5 2 2 NUM emaj-17 1 6 ( ( PUNCT emaj-17 1 7 2012 2012 NUM emaj-17 1 8 ) ) PUNCT emaj-17 1 9 | | ADV emaj-17 1 10 issn issn VERB emaj-17 1 11 2158 2158 NUM emaj-17 1 12 - - SYM emaj-17 1 13 8708 8708 NUM emaj-17 1 14 ( ( PUNCT emaj-17 1 15 online online NOUN emaj-17 1 16 ) ) PUNCT emaj-17 1 17 | | ADV emaj-17 1 18 doi doi X emaj-17 1 19 10.5195 10.5195 NUM emaj-17 1 20 / / SYM emaj-17 1 21 emaj.2012.17 emaj.2012.17 NOUN emaj-17 1 22 | | ADV emaj-17 1 23 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 1 24 the the DET emaj-17 1 25 influence influence NOUN emaj-17 1 26 of of ADP emaj-17 1 27 corruption corruption NOUN emaj-17 1 28 on on ADP emaj-17 1 29 corporate corporate ADJ emaj-17 1 30 governance governance NOUN emaj-17 1 31 standards standard NOUN emaj-17 1 32 : : PUNCT emaj-17 1 33 shared share VERB emaj-17 1 34 characteristics characteristic NOUN emaj-17 1 35 of of ADP emaj-17 1 36 rapidly rapidly ADV emaj-17 1 37 developing develop VERB emaj-17 1 38 economies economy NOUN emaj-17 1 39 michelle michelle PROPN emaj-17 1 40 i. i. PROPN emaj-17 1 41 caron caron PROPN emaj-17 1 42 southern southern PROPN emaj-17 1 43 new new PROPN emaj-17 1 44 hampshire hampshire PROPN emaj-17 1 45 university university PROPN emaj-17 1 46 dr dr PROPN emaj-17 1 47 . . PROPN emaj-17 1 48 aysun aysun PROPN emaj-17 1 49 fiçici fiçici PROPN emaj-17 1 50 southern southern PROPN emaj-17 1 51 new new PROPN emaj-17 1 52 hampshire hampshire PROPN emaj-17 1 53 university university PROPN emaj-17 1 54 | | ADV emaj-17 1 55 e e NOUN emaj-17 1 56 - - NOUN emaj-17 1 57 mail mail NOUN emaj-17 1 58 : : PUNCT emaj-17 1 59 a.ficici@snhu.edu a.ficici@snhu.edu PROPN emaj-17 1 60 christopher christopher PROPN emaj-17 1 61 l. l. PROPN emaj-17 1 62 richter richter PROPN emaj-17 1 63 southern southern PROPN emaj-17 1 64 new new PROPN emaj-17 1 65 hampshire hampshire PROPN emaj-17 1 66 university university PROPN emaj-17 1 67 abstract abstract NOUN emaj-17 1 68 this this DET emaj-17 1 69 article article NOUN emaj-17 1 70 evaluates evaluate VERB emaj-17 1 71 the the DET emaj-17 1 72 relationship relationship NOUN emaj-17 1 73 between between ADP emaj-17 1 74 the the DET emaj-17 1 75 level level NOUN emaj-17 1 76 of of ADP emaj-17 1 77 corruption corruption NOUN emaj-17 1 78 in in ADP emaj-17 1 79 rapidly rapidly ADV emaj-17 1 80 developing develop VERB emaj-17 1 81 economies economy NOUN emaj-17 1 82 and and CCONJ emaj-17 1 83 corporate corporate ADJ emaj-17 1 84 governance governance NOUN emaj-17 1 85 processes process NOUN emaj-17 1 86 therein therein ADV emaj-17 1 87 . . PUNCT emaj-17 2 1 previous previous ADJ emaj-17 2 2 literature literature NOUN emaj-17 2 3 illustrates illustrate VERB emaj-17 2 4 a a DET emaj-17 2 5 strong strong ADJ emaj-17 2 6 relationship relationship NOUN emaj-17 2 7 between between ADP emaj-17 2 8 corporate corporate ADJ emaj-17 2 9 governance governance NOUN emaj-17 2 10 and and CCONJ emaj-17 2 11 corruption corruption NOUN emaj-17 2 12 and and CCONJ emaj-17 2 13 suggests suggest VERB emaj-17 2 14 that that SCONJ emaj-17 2 15 in in ADP emaj-17 2 16 countries country NOUN emaj-17 2 17 with with ADP emaj-17 2 18 high high ADJ emaj-17 2 19 levels level NOUN emaj-17 2 20 of of ADP emaj-17 2 21 corruption corruption NOUN emaj-17 2 22 , , PUNCT emaj-17 2 23 firms firm NOUN emaj-17 2 24 lack lack VERB emaj-17 2 25 efficient efficient ADJ emaj-17 2 26 corporate corporate ADJ emaj-17 2 27 governance governance NOUN emaj-17 2 28 practices practice NOUN emaj-17 2 29 . . PUNCT emaj-17 3 1 similarly similarly ADV emaj-17 3 2 , , PUNCT emaj-17 3 3 countries country NOUN emaj-17 3 4 with with ADP emaj-17 3 5 deficient deficient ADJ emaj-17 3 6 corporate corporate ADJ emaj-17 3 7 governance governance NOUN emaj-17 3 8 practices practice NOUN emaj-17 3 9 and and CCONJ emaj-17 3 10 low low ADJ emaj-17 3 11 levels level NOUN emaj-17 3 12 of of ADP emaj-17 3 13 compliance compliance NOUN emaj-17 3 14 to to ADP emaj-17 3 15 these these DET emaj-17 3 16 standards standard NOUN emaj-17 3 17 breed breed VERB emaj-17 3 18 corruption corruption NOUN emaj-17 3 19 leading lead VERB emaj-17 3 20 to to ADP emaj-17 3 21 a a DET emaj-17 3 22 wide wide ADJ emaj-17 3 23 range range NOUN emaj-17 3 24 of of ADP emaj-17 3 25 transparency transparency NOUN emaj-17 3 26 dilemmas dilemma NOUN emaj-17 3 27 . . PUNCT emaj-17 4 1 this this DET emaj-17 4 2 study study NOUN emaj-17 4 3 delves delve VERB emaj-17 4 4 deeper deeply ADV emaj-17 4 5 through through ADP emaj-17 4 6 careful careful ADJ emaj-17 4 7 examination examination NOUN emaj-17 4 8 regarding regard VERB emaj-17 4 9 the the DET emaj-17 4 10 level level NOUN emaj-17 4 11 of of ADP emaj-17 4 12 compliance compliance NOUN emaj-17 4 13 with with ADP emaj-17 4 14 corporate corporate ADJ emaj-17 4 15 governance governance NOUN emaj-17 4 16 standards standard NOUN emaj-17 4 17 and and CCONJ emaj-17 4 18 the the DET emaj-17 4 19 pervasive pervasive ADJ emaj-17 4 20 effects effect NOUN emaj-17 4 21 of of ADP emaj-17 4 22 corruption corruption NOUN emaj-17 4 23 on on ADP emaj-17 4 24 the the DET emaj-17 4 25 governance governance NOUN emaj-17 4 26 processes process NOUN emaj-17 4 27 of of ADP emaj-17 4 28 firms firm NOUN emaj-17 4 29 with with ADP emaj-17 4 30 specific specific ADJ emaj-17 4 31 regard regard NOUN emaj-17 4 32 to to ADP emaj-17 4 33 rapidly rapidly ADV emaj-17 4 34 developing develop VERB emaj-17 4 35 economies economy NOUN emaj-17 4 36 as as ADV emaj-17 4 37 well well ADV emaj-17 4 38 as as ADP emaj-17 4 39 offering offer VERB emaj-17 4 40 comparisons comparison NOUN emaj-17 4 41 and and CCONJ emaj-17 4 42 similarities similarity NOUN emaj-17 4 43 of of ADP emaj-17 4 44 shared shared ADJ emaj-17 4 45 characteristics characteristic NOUN emaj-17 4 46 among among ADP emaj-17 4 47 these these DET emaj-17 4 48 countries country NOUN emaj-17 4 49 . . PUNCT emaj-17 5 1 keywords keyword NOUN emaj-17 5 2 : : PUNCT emaj-17 5 3 corporate corporate ADJ emaj-17 5 4 governance governance NOUN emaj-17 5 5 , , PUNCT emaj-17 5 6 corruption corruption NOUN emaj-17 5 7 , , PUNCT emaj-17 5 8 rapidly rapidly ADV emaj-17 5 9 developing develop VERB emaj-17 5 10 economies economy NOUN emaj-17 5 11 , , PUNCT emaj-17 5 12 foreign foreign ADJ emaj-17 5 13 direct direct ADJ emaj-17 5 14 investment investment NOUN emaj-17 5 15 , , PUNCT emaj-17 5 16 emerging emerge VERB emaj-17 5 17 markets market NOUN emaj-17 5 18 , , PUNCT emaj-17 5 19 transparency transparency NOUN emaj-17 5 20 . . PUNCT emaj-17 6 1 this this DET emaj-17 6 2 work work NOUN emaj-17 6 3 is be AUX emaj-17 6 4 licensed license VERB emaj-17 6 5 under under ADP emaj-17 6 6 a a DET emaj-17 6 7 creative creative ADJ emaj-17 6 8 commons common NOUN emaj-17 6 9 attribution attribution NOUN emaj-17 6 10 - - PUNCT emaj-17 6 11 noncommercial noncommercial ADJ emaj-17 6 12 - - PUNCT emaj-17 6 13 no no NOUN emaj-17 6 14 derivative derivative NOUN emaj-17 6 15 works work VERB emaj-17 6 16 3.0 3.0 NUM emaj-17 6 17 united united ADJ emaj-17 6 18 states states PROPN emaj-17 6 19 license license NOUN emaj-17 6 20 . . PUNCT emaj-17 7 1 this this DET emaj-17 7 2 journal journal NOUN emaj-17 7 3 is be AUX emaj-17 7 4 published publish VERB emaj-17 7 5 by by ADP emaj-17 7 6 the the DET emaj-17 7 7 university university NOUN emaj-17 7 8 library library NOUN emaj-17 7 9 system system NOUN emaj-17 7 10 of of ADP emaj-17 7 11 the the DET emaj-17 7 12 university university PROPN emaj-17 7 13 of of ADP emaj-17 7 14 pittsburgh pittsburgh PROPN emaj-17 7 15 as as ADP emaj-17 7 16 part part NOUN emaj-17 7 17 of of ADP emaj-17 7 18 its its PRON emaj-17 7 19 d d NOUN emaj-17 7 20 - - PUNCT emaj-17 7 21 scribe scribe VERB emaj-17 7 22 digital digital ADJ emaj-17 7 23 publishing publishing NOUN emaj-17 7 24 program program NOUN emaj-17 7 25 , , PUNCT emaj-17 7 26 and and CCONJ emaj-17 7 27 is be AUX emaj-17 7 28 cosponsored cosponsor VERB emaj-17 7 29 by by ADP emaj-17 7 30 the the DET emaj-17 7 31 university university PROPN emaj-17 7 32 of of ADP emaj-17 7 33 pittsburgh pittsburgh PROPN emaj-17 7 34 press press NOUN emaj-17 7 35 volume volume NOUN emaj-17 7 36 2 2 NUM emaj-17 7 37 ( ( PUNCT emaj-17 7 38 2012 2012 NUM emaj-17 7 39 ) ) PUNCT emaj-17 7 40 | | ADV emaj-17 7 41 issn issn VERB emaj-17 7 42 2158 2158 NUM emaj-17 7 43 - - SYM emaj-17 7 44 8708 8708 NUM emaj-17 7 45 ( ( PUNCT emaj-17 7 46 online online NOUN emaj-17 7 47 ) ) PUNCT emaj-17 7 48 | | ADV emaj-17 7 49 doi doi X emaj-17 7 50 10.5195 10.5195 NUM emaj-17 7 51 / / SYM emaj-17 7 52 emaj.2012.17 emaj.2012.17 NOUN emaj-17 7 53 | | ADV emaj-17 7 54 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 7 55 the the DET emaj-17 7 56 influence influence NOUN emaj-17 7 57 of of ADP emaj-17 7 58 corruption corruption NOUN emaj-17 7 59 on on ADP emaj-17 7 60 corporate corporate ADJ emaj-17 7 61 governance governance NOUN emaj-17 7 62 standards standard NOUN emaj-17 7 63 : : PUNCT emaj-17 7 64 shared share VERB emaj-17 7 65 characteristics characteristic NOUN emaj-17 7 66 of of ADP emaj-17 7 67 rapidly rapidly ADV emaj-17 7 68 developing develop VERB emaj-17 7 69 economies economy NOUN emaj-17 7 70 emerging emerge VERB emaj-17 7 71 markets market NOUN emaj-17 7 72 journal journal NOUN emaj-17 8 1 | | ADV emaj-17 8 2 p p NOUN emaj-17 8 3 a a DET emaj-17 8 4 g g NOUN emaj-17 8 5 e e NOUN emaj-17 8 6 | | ADV emaj-17 8 7 21 21 NUM emaj-17 8 8 volume volume NOUN emaj-17 8 9 2 2 NUM emaj-17 8 10 ( ( PUNCT emaj-17 8 11 2012 2012 NUM emaj-17 8 12 ) ) PUNCT emaj-17 8 13 | | ADV emaj-17 8 14 issn issn VERB emaj-17 8 15 2158 2158 NUM emaj-17 8 16 - - SYM emaj-17 8 17 8708 8708 NUM emaj-17 8 18 ( ( PUNCT emaj-17 8 19 online online NOUN emaj-17 8 20 ) ) PUNCT emaj-17 8 21 | | ADV emaj-17 8 22 doi doi X emaj-17 8 23 10.5195 10.5195 NUM emaj-17 8 24 / / SYM emaj-17 8 25 emaj.2012.17 emaj.2012.17 NOUN emaj-17 8 26 | | ADV emaj-17 8 27 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 8 28 the the DET emaj-17 8 29 influence influence NOUN emaj-17 8 30 of of ADP emaj-17 8 31 corruption corruption NOUN emaj-17 8 32 on on ADP emaj-17 8 33 corporate corporate ADJ emaj-17 8 34 governance governance NOUN emaj-17 8 35 standards standard NOUN emaj-17 8 36 : : PUNCT emaj-17 8 37 shared share VERB emaj-17 8 38 characteristics characteristic NOUN emaj-17 8 39 of of ADP emaj-17 8 40 rapidly rapidly ADV emaj-17 8 41 developing develop VERB emaj-17 8 42 economies economy NOUN emaj-17 8 43 michelle michelle PROPN emaj-17 8 44 i. i. PROPN emaj-17 8 45 caron caron PROPN emaj-17 8 46 dr dr PROPN emaj-17 8 47 . . PROPN emaj-17 8 48 aysun aysun PROPN emaj-17 8 49 fiçici fiçici PROPN emaj-17 8 50 christopher christopher PROPN emaj-17 8 51 l. l. PROPN emaj-17 8 52 richter richter PROPN emaj-17 8 53 i. i. PROPN emaj-17 8 54 introduction introduction PROPN emaj-17 8 55     SPACE emaj-17 8 56 the the DET emaj-17 8 57 primary primary ADJ emaj-17 8 58 focus focus NOUN emaj-17 8 59 of of ADP emaj-17 8 60 this this DET emaj-17 8 61 study study NOUN emaj-17 8 62 is be AUX emaj-17 8 63 to to PART emaj-17 8 64 examine examine VERB emaj-17 8 65 the the DET emaj-17 8 66 level level NOUN emaj-17 8 67 of of ADP emaj-17 8 68 compliance compliance NOUN emaj-17 8 69 with with ADP emaj-17 8 70 corporate corporate ADJ emaj-17 8 71 governance governance NOUN emaj-17 8 72 standards standard NOUN emaj-17 8 73 and and CCONJ emaj-17 8 74 the the DET emaj-17 8 75 pervasive pervasive ADJ emaj-17 8 76 effects effect NOUN emaj-17 8 77 of of ADP emaj-17 8 78 corruption corruption NOUN emaj-17 8 79 on on ADP emaj-17 8 80 the the DET emaj-17 8 81 governance governance NOUN emaj-17 8 82 processes process NOUN emaj-17 8 83 of of ADP emaj-17 8 84 firms firm NOUN emaj-17 8 85 with with ADP emaj-17 8 86 specific specific ADJ emaj-17 8 87 regard regard NOUN emaj-17 8 88 to to ADP emaj-17 8 89 rapidly rapidly ADV emaj-17 8 90 developing develop VERB emaj-17 8 91 economies economy NOUN emaj-17 8 92 , , PUNCT emaj-17 8 93 henceforth henceforth ADV emaj-17 8 94 rdes rde VERB emaj-17 8 95 , , PUNCT emaj-17 8 96 as as ADV emaj-17 8 97 well well ADV emaj-17 8 98 offer offer VERB emaj-17 8 99 comparisons comparison NOUN emaj-17 8 100 and and CCONJ emaj-17 8 101 similarities similarity NOUN emaj-17 8 102 of of ADP emaj-17 8 103 shared shared ADJ emaj-17 8 104 characteristics characteristic NOUN emaj-17 8 105 of of ADP emaj-17 8 106 firms firm NOUN emaj-17 8 107 in in ADP emaj-17 8 108 these these DET emaj-17 8 109 countries country NOUN emaj-17 8 110 . . PUNCT emaj-17 9 1 the the DET emaj-17 9 2 methodology methodology NOUN emaj-17 9 3 implemented implement VERB emaj-17 9 4 to to PART emaj-17 9 5 prove prove VERB emaj-17 9 6 this this DET emaj-17 9 7 correlation correlation NOUN emaj-17 9 8 involves involve VERB emaj-17 9 9 analyses analysis NOUN emaj-17 9 10 and and CCONJ emaj-17 9 11 ranking ranking NOUN emaj-17 9 12 of of ADP emaj-17 9 13 each each DET emaj-17 9 14 profiled profile VERB emaj-17 9 15 rde rde PROPN emaj-17 9 16 according accord VERB emaj-17 9 17 to to ADP emaj-17 9 18 the the DET emaj-17 9 19 degree degree NOUN emaj-17 9 20 of of ADP emaj-17 9 21 the the DET emaj-17 9 22 perceived perceive VERB emaj-17 9 23 level level NOUN emaj-17 9 24 of of ADP emaj-17 9 25 corruption corruption NOUN emaj-17 9 26 reported report VERB emaj-17 9 27 by by ADP emaj-17 9 28 transparency transparency NOUN emaj-17 9 29 international international ADJ emaj-17 9 30 and and CCONJ emaj-17 9 31 the the DET emaj-17 9 32 level level NOUN emaj-17 9 33 of of ADP emaj-17 9 34 corporate corporate ADJ emaj-17 9 35 governance governance NOUN emaj-17 9 36 standard standard ADJ emaj-17 9 37 compliance compliance NOUN emaj-17 9 38 as as SCONJ emaj-17 9 39 reported report VERB emaj-17 9 40 by by ADP emaj-17 9 41 the the DET emaj-17 9 42 estandards estandards PROPN emaj-17 9 43 forum forum PROPN emaj-17 9 44 financial financial PROPN emaj-17 9 45 standards standard NOUN emaj-17 9 46 foundation foundation NOUN emaj-17 9 47 which which PRON emaj-17 9 48 considers consider VERB emaj-17 9 49 ( ( PUNCT emaj-17 9 50 a a PRON emaj-17 9 51 ) ) PUNCT emaj-17 9 52 macroeconomic macroeconomic ADJ emaj-17 9 53 policy policy NOUN emaj-17 9 54 and and CCONJ emaj-17 9 55 data datum NOUN emaj-17 9 56 transparency transparency NOUN emaj-17 9 57 , , PUNCT emaj-17 9 58 ( ( PUNCT emaj-17 9 59 b b X emaj-17 9 60 ) ) PUNCT emaj-17 9 61 institutional institutional ADJ emaj-17 9 62 and and CCONJ emaj-17 9 63 market market NOUN emaj-17 9 64 infrastructure infrastructure NOUN emaj-17 9 65 , , PUNCT emaj-17 9 66 and and CCONJ emaj-17 9 67 ( ( PUNCT emaj-17 9 68 c c NOUN emaj-17 9 69 ) ) PUNCT emaj-17 9 70 financial financial ADJ emaj-17 9 71 regulation regulation NOUN emaj-17 9 72 and and CCONJ emaj-17 9 73 supervision supervision NOUN emaj-17 9 74 . . PUNCT emaj-17 10 1 this this DET emaj-17 10 2 paper paper NOUN emaj-17 10 3 spotlights spotlight VERB emaj-17 10 4 the the DET emaj-17 10 5 following following ADJ emaj-17 10 6 rdes rde NOUN emaj-17 10 7 ; ; PUNCT emaj-17 10 8 argentina argentina PROPN emaj-17 10 9 , , PUNCT emaj-17 10 10 brazil brazil PROPN emaj-17 10 11 , , PUNCT emaj-17 10 12 china china PROPN emaj-17 10 13 , , PUNCT emaj-17 10 14 chile chile PROPN emaj-17 10 15 , , PUNCT emaj-17 10 16 hungary hungary PROPN emaj-17 10 17 , , PUNCT emaj-17 10 18 india india PROPN emaj-17 10 19 , , PUNCT emaj-17 10 20 indonesia indonesia PROPN emaj-17 10 21 , , PUNCT emaj-17 10 22 kuwait kuwait PROPN emaj-17 10 23 , , PUNCT emaj-17 10 24 malaysia malaysia PROPN emaj-17 10 25 , , PUNCT emaj-17 10 26 mexico mexico PROPN emaj-17 10 27 , , PUNCT emaj-17 10 28 russia russia PROPN emaj-17 10 29 , , PUNCT emaj-17 10 30 thailand thailand PROPN emaj-17 10 31 , , PUNCT emaj-17 10 32 turkey turkey PROPN emaj-17 10 33 and and CCONJ emaj-17 10 34 united united PROPN emaj-17 10 35 arab arab PROPN emaj-17 10 36 emirates emirates PROPN emaj-17 10 37 as as SCONJ emaj-17 10 38 they they PRON emaj-17 10 39 represent represent VERB emaj-17 10 40 the the DET emaj-17 10 41 premier premier ADJ emaj-17 10 42 class class NOUN emaj-17 10 43 emerging emerge VERB emaj-17 10 44 markets market NOUN emaj-17 10 45 attracting attract VERB emaj-17 10 46 foreign foreign ADJ emaj-17 10 47 direct direct ADJ emaj-17 10 48 investment investment NOUN emaj-17 10 49 and and CCONJ emaj-17 10 50 increasing increase VERB emaj-17 10 51 levels level NOUN emaj-17 10 52 of of ADP emaj-17 10 53 gdp gdp NOUN emaj-17 10 54 . . PUNCT emaj-17 11 1 these these DET emaj-17 11 2 profiled profile VERB emaj-17 11 3 rde rde PROPN emaj-17 11 4 countries country NOUN emaj-17 11 5 represent represent VERB emaj-17 11 6 the the DET emaj-17 11 7 fastest fast ADV emaj-17 11 8 growing grow VERB emaj-17 11 9 emerging emerge VERB emaj-17 11 10 markets market NOUN emaj-17 11 11 . . PUNCT emaj-17 12 1 rdes rde NOUN emaj-17 12 2 have have VERB emaj-17 12 3 the the DET emaj-17 12 4 ability ability NOUN emaj-17 12 5 to to PART emaj-17 12 6 attract attract VERB emaj-17 12 7 foreign foreign ADJ emaj-17 12 8 direct direct ADJ emaj-17 12 9 investment investment NOUN emaj-17 12 10 despite despite SCONJ emaj-17 12 11 higher high ADJ emaj-17 12 12 levels level NOUN emaj-17 12 13 of of ADP emaj-17 12 14 corruption corruption NOUN emaj-17 12 15 versus versus ADP emaj-17 12 16 developed develop VERB emaj-17 12 17 economies economy NOUN emaj-17 12 18 . . PUNCT emaj-17 13 1 the the DET emaj-17 13 2 growth growth NOUN emaj-17 13 3 experienced experience VERB emaj-17 13 4 by by ADP emaj-17 13 5 rdes rde NOUN emaj-17 13 6 , , PUNCT emaj-17 13 7 with with ADP emaj-17 13 8 regard regard NOUN emaj-17 13 9 to to ADP emaj-17 13 10 gross gross ADJ emaj-17 13 11 domestic domestic ADJ emaj-17 13 12 product product NOUN emaj-17 13 13 and and CCONJ emaj-17 13 14 foreign foreign ADJ emaj-17 13 15 direct direct ADJ emaj-17 13 16 investment investment NOUN emaj-17 13 17 , , PUNCT emaj-17 13 18 come come VERB emaj-17 13 19 such such ADJ emaj-17 13 20 obstacles obstacle NOUN emaj-17 13 21 and and CCONJ emaj-17 13 22 hindrances hindrance NOUN emaj-17 13 23 as as ADP emaj-17 13 24 corruption corruption NOUN emaj-17 13 25 which which PRON emaj-17 13 26 may may AUX emaj-17 13 27 be be AUX emaj-17 13 28 dealt deal VERB emaj-17 13 29 with with ADP emaj-17 13 30 through through ADP emaj-17 13 31 effective effective ADJ emaj-17 13 32 corporate corporate ADJ emaj-17 13 33 governance governance NOUN emaj-17 13 34 . . PUNCT emaj-17 14 1 each each DET emaj-17 14 2 one one NUM emaj-17 14 3 of of ADP emaj-17 14 4 the the DET emaj-17 14 5 bric bric PROPN emaj-17 14 6 countries countries PROPN emaj-17 14 7 ( ( PUNCT emaj-17 14 8 brazil brazil PROPN emaj-17 14 9 , , PUNCT emaj-17 14 10 russia russia PROPN emaj-17 14 11 , , PUNCT emaj-17 14 12 india india PROPN emaj-17 14 13 and and CCONJ emaj-17 14 14 china china PROPN emaj-17 14 15 ) ) PUNCT emaj-17 14 16 is be AUX emaj-17 14 17 considered consider VERB emaj-17 14 18 rapidly rapidly ADV emaj-17 14 19 developing develop VERB emaj-17 14 20 economies economy NOUN emaj-17 14 21 due due ADJ emaj-17 14 22 to to ADP emaj-17 14 23 their their PRON emaj-17 14 24 ever ever ADV emaj-17 14 25 - - PUNCT emaj-17 14 26 increasing increase VERB emaj-17 14 27 annual annual ADJ emaj-17 14 28 growth growth NOUN emaj-17 14 29 rates rate NOUN emaj-17 14 30 . . PUNCT emaj-17 15 1 what what PRON emaj-17 15 2 separates separate VERB emaj-17 15 3 an an DET emaj-17 15 4 emerging emerge VERB emaj-17 15 5 market market NOUN emaj-17 15 6 ( ( PUNCT emaj-17 15 7 henceforth henceforth ADV emaj-17 15 8 “ " PUNCT emaj-17 15 9 em em PRON emaj-17 15 10 ” " PUNCT emaj-17 15 11 ) ) PUNCT emaj-17 15 12 from from ADP emaj-17 15 13 a a DET emaj-17 15 14 rde rde PROPN emaj-17 15 15 ? ? PUNCT emaj-17 16 1 the the DET emaj-17 16 2 short short ADJ emaj-17 16 3 answer answer NOUN emaj-17 16 4 is be AUX emaj-17 16 5 that that SCONJ emaj-17 16 6 rdes rde NOUN emaj-17 16 7 grow grow VERB emaj-17 16 8 at at ADP emaj-17 16 9 faster fast ADJ emaj-17 16 10 rates rate NOUN emaj-17 16 11 than than ADP emaj-17 16 12 ems ems PROPN emaj-17 16 13 . . PUNCT emaj-17 17 1 according accord VERB emaj-17 17 2 to to ADP emaj-17 17 3 arnold arnold PROPN emaj-17 17 4 & & CCONJ emaj-17 17 5 quelch quelch PROPN emaj-17 17 6 , , PUNCT emaj-17 17 7 there there PRON emaj-17 17 8 are be VERB emaj-17 17 9 three three NUM emaj-17 17 10 aspects aspect NOUN emaj-17 17 11 of of ADP emaj-17 17 12 a a DET emaj-17 17 13 country country NOUN emaj-17 17 14 ’s ’s PART emaj-17 17 15 economy economy NOUN emaj-17 17 16 that that PRON emaj-17 17 17 make make VERB emaj-17 17 18 it it PRON emaj-17 17 19 so so ADV emaj-17 17 20 ( ( PUNCT emaj-17 17 21 arnold arnold PROPN emaj-17 17 22 and and CCONJ emaj-17 17 23 quelch quelch PROPN emaj-17 17 24 , , PUNCT emaj-17 17 25 1998 1998 NUM emaj-17 17 26 , , PUNCT emaj-17 17 27 p. p. NOUN emaj-17 17 28 8) 8) NUM emaj-17 17 29 : : PUNCT emaj-17 17 30 “ " PUNCT emaj-17 17 31 first first ADV emaj-17 17 32 is be AUX emaj-17 17 33 the the DET emaj-17 17 34 absolute absolute ADJ emaj-17 17 35 level level NOUN emaj-17 17 36 of of ADP emaj-17 17 37 economic economic ADJ emaj-17 17 38 development development NOUN emaj-17 17 39 , , PUNCT emaj-17 17 40 usually usually ADV emaj-17 17 41 indicated indicate VERB emaj-17 17 42 by by ADP emaj-17 17 43 the the DET emaj-17 17 44 average average ADJ emaj-17 17 45 gdp gdp NOUN emaj-17 17 46 per per ADP emaj-17 17 47 capita capita NOUN emaj-17 17 48 , , PUNCT emaj-17 17 49 or or CCONJ emaj-17 17 50 the the DET emaj-17 17 51 relative relative ADJ emaj-17 17 52 balance balance NOUN emaj-17 17 53 of of ADP emaj-17 17 54 agrarian agrarian ADJ emaj-17 17 55 and and CCONJ emaj-17 17 56 industrial industrial ADJ emaj-17 17 57 / / SYM emaj-17 17 58 commercial commercial ADJ emaj-17 17 59 activity activity NOUN emaj-17 17 60 . . PUNCT emaj-17 18 1 this this PRON emaj-17 18 2 overlaps overlap VERB emaj-17 18 3 with with ADP emaj-17 18 4 other other ADJ emaj-17 18 5 categorizations categorization NOUN emaj-17 18 6 such such ADJ emaj-17 18 7 as as ADP emaj-17 18 8 ‘ ' PUNCT emaj-17 18 9 less less ADV emaj-17 18 10 developed develop VERB emaj-17 18 11 countries country NOUN emaj-17 18 12 ’ ' PUNCT emaj-17 18 13 ( ( PUNCT emaj-17 18 14 ldcs ldcs PROPN emaj-17 18 15 ) ) PUNCT emaj-17 18 16 or or CCONJ emaj-17 18 17 ‘ ' PUNCT emaj-17 18 18 third third ADJ emaj-17 18 19 world world NOUN emaj-17 18 20 countries country NOUN emaj-17 18 21 ’ ' PUNCT emaj-17 18 22 . . PUNCT emaj-17 19 1 second second ADJ emaj-17 19 2 is be AUX emaj-17 19 3 the the DET emaj-17 19 4 relative relative ADJ emaj-17 19 5 pace pace NOUN emaj-17 19 6 of of ADP emaj-17 19 7 economic economic ADJ emaj-17 19 8 development development NOUN emaj-17 19 9 usually usually ADV emaj-17 19 10 indicated indicate VERB emaj-17 19 11 by by ADP emaj-17 19 12 the the DET emaj-17 19 13 gdp gdp NOUN emaj-17 19 14 growth growth NOUN emaj-17 19 15 rate rate NOUN emaj-17 19 16 . . PUNCT emaj-17 20 1 third third ADJ emaj-17 20 2 is be AUX emaj-17 20 3 the the DET emaj-17 20 4 system system NOUN emaj-17 20 5 of of ADP emaj-17 20 6 market market NOUN emaj-17 20 7 governance governance NOUN emaj-17 20 8 and and CCONJ emaj-17 20 9 , , PUNCT emaj-17 20 10 in in ADP emaj-17 20 11 particular particular ADJ emaj-17 20 12 , , PUNCT emaj-17 20 13 the the DET emaj-17 20 14 extent extent NOUN emaj-17 20 15 and and CCONJ emaj-17 20 16 stability stability NOUN emaj-17 20 17 of of ADP emaj-17 20 18 a a DET emaj-17 20 19 freemarket freemarket NOUN emaj-17 20 20 system system NOUN emaj-17 20 21 … … PUNCT emaj-17 20 22 ” " PUNCT emaj-17 20 23 . . PUNCT emaj-17 21 1 rde rde PROPN emaj-17 21 2 countries country NOUN emaj-17 21 3 were be AUX emaj-17 21 4 chosen choose VERB emaj-17 21 5 as as SCONJ emaj-17 21 6 they they PRON emaj-17 21 7 represent represent VERB emaj-17 21 8 the the DET emaj-17 21 9 premier premier ADJ emaj-17 21 10 class class NOUN emaj-17 21 11 of of ADP emaj-17 21 12 emerging emerge VERB emaj-17 21 13 markets market NOUN emaj-17 21 14 , , PUNCT emaj-17 21 15 attracting attract VERB emaj-17 21 16 significant significant ADJ emaj-17 21 17 foreign foreign ADJ emaj-17 21 18 direct direct ADJ emaj-17 21 19 investment investment NOUN emaj-17 21 20 and and CCONJ emaj-17 21 21 increasing increase VERB emaj-17 21 22 levels level NOUN emaj-17 21 23 of of ADP emaj-17 21 24 gdp gdp NOUN emaj-17 21 25 . . PUNCT emaj-17 22 1 with with ADP emaj-17 22 2 this this DET emaj-17 22 3 growth growth NOUN emaj-17 22 4 come come VERB emaj-17 22 5 such such ADJ emaj-17 22 6 obstacles obstacle NOUN emaj-17 22 7 and and CCONJ emaj-17 22 8 hindrances hindrance NOUN emaj-17 22 9 as as ADP emaj-17 22 10 crime crime NOUN emaj-17 22 11 and and CCONJ emaj-17 22 12 corruption corruption NOUN emaj-17 22 13 and and CCONJ emaj-17 22 14 the the DET emaj-17 22 15 challenges challenge NOUN emaj-17 22 16 that that PRON emaj-17 22 17 come come VERB emaj-17 22 18 with with ADP emaj-17 22 19 implementing implement VERB emaj-17 22 20 effective effective ADJ emaj-17 22 21 corporate corporate ADJ emaj-17 22 22 governance governance NOUN emaj-17 22 23 practices practice NOUN emaj-17 22 24 . . PUNCT emaj-17 23 1 consequently consequently ADV emaj-17 23 2 , , PUNCT emaj-17 23 3 the the DET emaj-17 23 4 purpose purpose NOUN emaj-17 23 5 of of ADP emaj-17 23 6 this this DET emaj-17 23 7 paper paper NOUN emaj-17 23 8 is be AUX emaj-17 23 9 to to PART emaj-17 23 10 determine determine VERB emaj-17 23 11 whether whether SCONJ emaj-17 23 12 corruption corruption NOUN emaj-17 23 13 will will AUX emaj-17 23 14 be be AUX emaj-17 23 15 lower low ADJ emaj-17 23 16 in in ADP emaj-17 23 17 rdes rde NOUN emaj-17 23 18 that that PRON emaj-17 23 19 have have VERB emaj-17 23 20 higher high ADJ emaj-17 23 21 levels level NOUN emaj-17 23 22 of of ADP emaj-17 23 23 compliance compliance NOUN emaj-17 23 24 to to ADP emaj-17 23 25 corporate corporate ADJ emaj-17 23 26 governance governance NOUN emaj-17 23 27 standards standard NOUN emaj-17 23 28 . . PUNCT emaj-17 24 1 what what PRON emaj-17 24 2 sets set VERB emaj-17 24 3 this this DET emaj-17 24 4 article article NOUN emaj-17 24 5 apart apart ADV emaj-17 24 6 from from ADP emaj-17 24 7 previous previous ADJ emaj-17 24 8 works work NOUN emaj-17 24 9 is be AUX emaj-17 24 10 that that SCONJ emaj-17 24 11 the the DET emaj-17 24 12 profiled profile VERB emaj-17 24 13 countries country NOUN emaj-17 24 14 represent represent VERB emaj-17 24 15 rdes rde NOUN emaj-17 24 16 specifically specifically ADV emaj-17 24 17 . . PUNCT emaj-17 25 1 this this DET emaj-17 25 2 research research NOUN emaj-17 25 3 holds hold VERB emaj-17 25 4 value value NOUN emaj-17 25 5 to to ADP emaj-17 25 6 the the DET emaj-17 25 7 field field NOUN emaj-17 25 8 of of ADP emaj-17 25 9 international international ADJ emaj-17 25 10 the the DET emaj-17 25 11 influence influence NOUN emaj-17 25 12 of of ADP emaj-17 25 13 corruption corruption NOUN emaj-17 25 14 on on ADP emaj-17 25 15 corporate corporate ADJ emaj-17 25 16 governance governance NOUN emaj-17 25 17 standards standard NOUN emaj-17 25 18 : : PUNCT emaj-17 25 19 shared share VERB emaj-17 25 20 characteristics characteristic NOUN emaj-17 25 21 of of ADP emaj-17 25 22 rapidly rapidly ADV emaj-17 25 23 developing develop VERB emaj-17 25 24 economies economy NOUN emaj-17 25 25 emerging emerge VERB emaj-17 25 26 markets market NOUN emaj-17 25 27 journal journal NOUN emaj-17 25 28 | | ADV emaj-17 25 29 p p NOUN emaj-17 25 30 a a DET emaj-17 25 31 g g NOUN emaj-17 25 32 e e PROPN emaj-17 25 33 | | ADV emaj-17 25 34 22 22 NUM emaj-17 25 35 volume volume NOUN emaj-17 25 36 2 2 NUM emaj-17 25 37 ( ( PUNCT emaj-17 25 38 2012 2012 NUM emaj-17 25 39 ) ) PUNCT emaj-17 25 40 | | ADV emaj-17 25 41 issn issn VERB emaj-17 25 42 2158 2158 NUM emaj-17 25 43 - - SYM emaj-17 25 44 8708 8708 NUM emaj-17 25 45 ( ( PUNCT emaj-17 25 46 online online NOUN emaj-17 25 47 ) ) PUNCT emaj-17 26 1 | | ADV emaj-17 26 2 doi doi X emaj-17 26 3 10.5195 10.5195 NUM emaj-17 26 4 / / SYM emaj-17 26 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 27 1 | | NOUN emaj-17 27 2 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 27 3 business business NOUN emaj-17 27 4 due due ADP emaj-17 27 5 to to ADP emaj-17 27 6 the the DET emaj-17 27 7 aforementioned aforementioned ADJ emaj-17 27 8 analysis analysis NOUN emaj-17 27 9 of of ADP emaj-17 27 10 the the DET emaj-17 27 11 degree degree NOUN emaj-17 27 12 of of ADP emaj-17 27 13 compliance compliance NOUN emaj-17 27 14 with with ADP emaj-17 27 15 corporate corporate ADJ emaj-17 27 16 governance governance NOUN emaj-17 27 17 standards standard NOUN emaj-17 27 18 as as ADV emaj-17 27 19 well well ADV emaj-17 27 20 as as ADP emaj-17 27 21 the the DET emaj-17 27 22 extent extent NOUN emaj-17 27 23 to to PART emaj-17 27 24 which which PRON emaj-17 27 25 these these DET emaj-17 27 26 economies economy NOUN emaj-17 27 27 share share VERB emaj-17 27 28 similar similar ADJ emaj-17 27 29 characteristics characteristic NOUN emaj-17 27 30 . . PUNCT emaj-17 28 1 the the DET emaj-17 28 2 paper paper NOUN emaj-17 28 3 concludes conclude VERB emaj-17 28 4 with with ADP emaj-17 28 5 a a DET emaj-17 28 6 summary summary NOUN emaj-17 28 7 of of ADP emaj-17 28 8 the the DET emaj-17 28 9 findings finding NOUN emaj-17 28 10 in in ADP emaj-17 28 11 the the DET emaj-17 28 12 study study NOUN emaj-17 28 13 as as ADV emaj-17 28 14 well well ADV emaj-17 28 15 as as ADP emaj-17 28 16 areas area NOUN emaj-17 28 17 of of ADP emaj-17 28 18 future future ADJ emaj-17 28 19 study study NOUN emaj-17 28 20 with with ADP emaj-17 28 21 regard regard NOUN emaj-17 28 22 to to ADP emaj-17 28 23 corruption corruption NOUN emaj-17 28 24 and and CCONJ emaj-17 28 25 corporate corporate ADJ emaj-17 28 26 governance governance NOUN emaj-17 28 27 practices practice NOUN emaj-17 28 28 . . PUNCT emaj-17 29 1 ii ii PROPN emaj-17 29 2 . . PUNCT emaj-17 30 1 review review NOUN emaj-17 30 2     SPACE emaj-17 30 3 of of ADP emaj-17 30 4     SPACE emaj-17 30 5 related related ADJ emaj-17 30 6     SPACE emaj-17 30 7 literature literature NOUN emaj-17 30 8     SPACE emaj-17 30 9 previous previous ADJ emaj-17 30 10 literature literature NOUN emaj-17 30 11 illustrates illustrate VERB emaj-17 30 12 a a DET emaj-17 30 13 strong strong ADJ emaj-17 30 14 relationship relationship NOUN emaj-17 30 15 between between ADP emaj-17 30 16 corporate corporate ADJ emaj-17 30 17 governance governance NOUN emaj-17 30 18 and and CCONJ emaj-17 30 19 corruption corruption NOUN emaj-17 30 20 and and CCONJ emaj-17 30 21 suggests suggest VERB emaj-17 30 22 that that SCONJ emaj-17 30 23 in in ADP emaj-17 30 24 countries country NOUN emaj-17 30 25 with with ADP emaj-17 30 26 high high ADJ emaj-17 30 27 levels level NOUN emaj-17 30 28 of of ADP emaj-17 30 29 corruption corruption NOUN emaj-17 30 30 , , PUNCT emaj-17 30 31 firms firm NOUN emaj-17 30 32 do do AUX emaj-17 30 33 not not PART emaj-17 30 34 demonstrate demonstrate VERB emaj-17 30 35 good good ADJ emaj-17 30 36 corporate corporate ADJ emaj-17 30 37 governance governance NOUN emaj-17 30 38 practices practice NOUN emaj-17 30 39 . . PUNCT emaj-17 31 1 similarly similarly ADV emaj-17 31 2 countries country NOUN emaj-17 31 3 with with ADP emaj-17 31 4 deficient deficient ADJ emaj-17 31 5 corporate corporate ADJ emaj-17 31 6 governance governance NOUN emaj-17 31 7 practices practice NOUN emaj-17 31 8 and and CCONJ emaj-17 31 9 low low ADJ emaj-17 31 10 levels level NOUN emaj-17 31 11 of of ADP emaj-17 31 12 compliance compliance NOUN emaj-17 31 13 to to ADP emaj-17 31 14 these these DET emaj-17 31 15 standards standard NOUN emaj-17 31 16 by by ADP emaj-17 31 17 firms firm NOUN emaj-17 31 18 breed breed VERB emaj-17 31 19 corruption corruption NOUN emaj-17 31 20 leading lead VERB emaj-17 31 21 to to ADP emaj-17 31 22 a a DET emaj-17 31 23 wide wide ADJ emaj-17 31 24 range range NOUN emaj-17 31 25 of of ADP emaj-17 31 26 transparency transparency NOUN emaj-17 31 27 dilemmas dilemma NOUN emaj-17 31 28 . . PUNCT emaj-17 32 1 [ [ X emaj-17 32 2 ( ( PUNCT emaj-17 32 3 modigliani modigliani ADJ emaj-17 32 4 and and CCONJ emaj-17 32 5 perotti perotti ADJ emaj-17 32 6 ( ( PUNCT emaj-17 32 7 2000 2000 NUM emaj-17 32 8 ) ) PUNCT emaj-17 32 9 , , PUNCT emaj-17 32 10 hellman hellman PROPN emaj-17 32 11 et.al et.al PROPN emaj-17 32 12 . . PUNCT emaj-17 33 1 ( ( PUNCT emaj-17 33 2 2000 2000 NUM emaj-17 33 3 ) ) PUNCT emaj-17 33 4 , , PUNCT emaj-17 33 5 xun xun PROPN emaj-17 33 6 ( ( PUNCT emaj-17 33 7 2002 2002 NUM emaj-17 33 8 ) ) PUNCT emaj-17 33 9 , , PUNCT emaj-17 33 10 wei wei PROPN emaj-17 33 11 ( ( PUNCT emaj-17 33 12 2000 2000 NUM emaj-17 33 13 ) ) PUNCT emaj-17 33 14 , , PUNCT emaj-17 33 15 laporta laporta PROPN emaj-17 33 16 et.al et.al PROPN emaj-17 33 17 . . PUNCT emaj-17 34 1 ( ( PUNCT emaj-17 34 2 2000 2000 NUM emaj-17 34 3 ) ) PUNCT emaj-17 34 4 , , PUNCT emaj-17 34 5 kauffman kauffman PROPN emaj-17 34 6 and and CCONJ emaj-17 34 7 wei wei PROPN emaj-17 34 8 ( ( PUNCT emaj-17 34 9 2000 2000 NUM emaj-17 34 10 ) ) PUNCT emaj-17 34 11 , , PUNCT emaj-17 34 12 rose rose NOUN emaj-17 34 13 - - PUNCT emaj-17 34 14 ackerman ackerman NOUN emaj-17 34 15 ( ( PUNCT emaj-17 34 16 1997 1997 NUM emaj-17 34 17 ) ) PUNCT emaj-17 34 18 , , PUNCT emaj-17 34 19 and and CCONJ emaj-17 34 20 gambetta gambetta NOUN emaj-17 34 21 ( ( PUNCT emaj-17 34 22 2000 2000 NUM emaj-17 34 23 ) ) PUNCT emaj-17 34 24 ] ] PUNCT emaj-17 34 25 . . PUNCT emaj-17 35 1 hence hence ADV emaj-17 35 2 , , PUNCT emaj-17 35 3 in in ADP emaj-17 35 4 order order NOUN emaj-17 35 5 to to PART emaj-17 35 6 be be AUX emaj-17 35 7 able able ADJ emaj-17 35 8 to to PART emaj-17 35 9 better better VERB emaj-17 35 10 grasp grasp VERB emaj-17 35 11 and and CCONJ emaj-17 35 12 systematically systematically ADV emaj-17 35 13 examine examine VERB emaj-17 35 14 the the DET emaj-17 35 15 relationship relationship NOUN emaj-17 35 16 between between ADP emaj-17 35 17 the the DET emaj-17 35 18 level level NOUN emaj-17 35 19 of of ADP emaj-17 35 20 corruption corruption NOUN emaj-17 35 21 and and CCONJ emaj-17 35 22 corporate corporate ADJ emaj-17 35 23 governance governance NOUN emaj-17 35 24 processes process NOUN emaj-17 35 25 in in ADP emaj-17 35 26 rdes rde NOUN emaj-17 35 27 , , PUNCT emaj-17 35 28 it it PRON emaj-17 35 29 is be AUX emaj-17 35 30 important important ADJ emaj-17 35 31 to to PART emaj-17 35 32 integrate integrate VERB emaj-17 35 33 two two NUM emaj-17 35 34 strands strand NOUN emaj-17 35 35 of of ADP emaj-17 35 36 previous previous ADJ emaj-17 35 37 literature literature NOUN emaj-17 35 38 to to ADP emaj-17 35 39 this this DET emaj-17 35 40 study study NOUN emaj-17 35 41 , , PUNCT emaj-17 35 42 one one NUM emaj-17 35 43 on on ADP emaj-17 35 44 corruption corruption NOUN emaj-17 35 45 and and CCONJ emaj-17 35 46 the the DET emaj-17 35 47 other other ADJ emaj-17 35 48 on on ADP emaj-17 35 49 corporate corporate ADJ emaj-17 35 50 governance governance NOUN emaj-17 35 51 . . PUNCT emaj-17 36 1 first first ADV emaj-17 36 2 , , PUNCT emaj-17 36 3 let let VERB emaj-17 36 4 ’s ’s PRON emaj-17 36 5 begin begin VERB emaj-17 36 6 with with ADP emaj-17 36 7 corruption corruption NOUN emaj-17 36 8 . . PUNCT emaj-17 37 1 known know VERB emaj-17 37 2 as as ADP emaj-17 37 3 “ " PUNCT emaj-17 37 4 suborno suborno NOUN emaj-17 37 5 ” " PUNCT emaj-17 37 6 in in ADP emaj-17 37 7 portuguese portuguese PROPN emaj-17 37 8 , , PUNCT emaj-17 37 9 “ " PUNCT emaj-17 37 10 huì huì NOUN emaj-17 37 11 ” " PUNCT emaj-17 37 12 in in ADP emaj-17 37 13 mandarin mandarin NOUN emaj-17 37 14 , , PUNCT emaj-17 37 15 and and CCONJ emaj-17 37 16 “ " PUNCT emaj-17 37 17 bribery bribery NOUN emaj-17 37 18 ” " PUNCT emaj-17 37 19 in in ADP emaj-17 37 20 english english PROPN emaj-17 37 21 , , PUNCT emaj-17 37 22 corruption corruption NOUN emaj-17 37 23 has have AUX emaj-17 37 24 been be AUX emaj-17 37 25 a a DET emaj-17 37 26 major major ADJ emaj-17 37 27 deterrent deterrent NOUN emaj-17 37 28 to to ADP emaj-17 37 29 prospective prospective ADJ emaj-17 37 30 multinationals multinational NOUN emaj-17 37 31 in in ADP emaj-17 37 32 rdes rde NOUN emaj-17 37 33 such such ADJ emaj-17 37 34 as as ADP emaj-17 37 35 those those PRON emaj-17 37 36 identified identify VERB emaj-17 37 37 on on ADP emaj-17 37 38 boston boston PROPN emaj-17 37 39 consulting consulting PROPN emaj-17 37 40 group group NOUN emaj-17 37 41 ’s ’s PART emaj-17 37 42 “ " PUNCT emaj-17 37 43 top top ADJ emaj-17 37 44 100 100 NUM emaj-17 37 45 global global ADJ emaj-17 37 46 challengers challenger NOUN emaj-17 37 47 ” " PUNCT emaj-17 37 48 , , PUNCT emaj-17 37 49 which which PRON emaj-17 37 50 are be AUX emaj-17 37 51 profiled profile VERB emaj-17 37 52 in in ADP emaj-17 37 53 this this DET emaj-17 37 54 study study NOUN emaj-17 37 55 : : PUNCT emaj-17 37 56 argentina argentina PROPN emaj-17 37 57 , , PUNCT emaj-17 37 58 brazil brazil PROPN emaj-17 37 59 , , PUNCT emaj-17 37 60 china china PROPN emaj-17 37 61 , , PUNCT emaj-17 37 62 chile chile PROPN emaj-17 37 63 , , PUNCT emaj-17 37 64 hungary hungary PROPN emaj-17 37 65 , , PUNCT emaj-17 37 66 india india PROPN emaj-17 37 67 , , PUNCT emaj-17 37 68 indonesia indonesia PROPN emaj-17 37 69 , , PUNCT emaj-17 37 70 kuwait kuwait PROPN emaj-17 37 71 , , PUNCT emaj-17 37 72 malaysia malaysia PROPN emaj-17 37 73 , , PUNCT emaj-17 37 74 mexico mexico PROPN emaj-17 37 75 , , PUNCT emaj-17 37 76 russia russia PROPN emaj-17 37 77 , , PUNCT emaj-17 37 78 thailand thailand PROPN emaj-17 37 79 , , PUNCT emaj-17 37 80 turkey turkey PROPN emaj-17 37 81 and and CCONJ emaj-17 37 82 united united PROPN emaj-17 37 83 arab arab PROPN emaj-17 37 84 emirates emirates PROPN emaj-17 37 85 as as ADP emaj-17 37 86 brazil brazil PROPN emaj-17 37 87 , , PUNCT emaj-17 37 88 russia russia PROPN emaj-17 37 89 , , PUNCT emaj-17 37 90 india india PROPN emaj-17 37 91 , , PUNCT emaj-17 37 92 and and CCONJ emaj-17 37 93 china china PROPN emaj-17 37 94 ( ( PUNCT emaj-17 37 95 bcg bcg PROPN emaj-17 37 96 , , PUNCT emaj-17 37 97 2009 2009 NUM emaj-17 37 98 ) ) PUNCT emaj-17 37 99 . . PUNCT emaj-17 38 1 commerce commerce PROPN emaj-17 38 2 secretary secretary PROPN emaj-17 38 3 , , PUNCT emaj-17 38 4 mickey mickey PROPN emaj-17 38 5 kantor kantor PROPN emaj-17 38 6 , , PUNCT emaj-17 38 7 states state VERB emaj-17 38 8 that that SCONJ emaj-17 38 9 bribery bribery NOUN emaj-17 38 10 and and CCONJ emaj-17 38 11 corruption corruption NOUN emaj-17 38 12 represent represent VERB emaj-17 38 13 the the DET emaj-17 38 14 number number NOUN emaj-17 38 15 one one NUM emaj-17 38 16 complaint complaint NOUN emaj-17 38 17 of of ADP emaj-17 38 18 u.s u.s PROPN emaj-17 38 19 . . PROPN emaj-17 38 20 executives executive NOUN emaj-17 38 21 operating operate VERB emaj-17 38 22 overseas overseas ADV emaj-17 38 23 ( ( PUNCT emaj-17 38 24 blustein blustein NOUN emaj-17 38 25 , , PUNCT emaj-17 38 26 2007 2007 NUM emaj-17 38 27 ) ) PUNCT emaj-17 38 28 . . PUNCT emaj-17 39 1 gambetta gambetta NOUN emaj-17 39 2 ( ( PUNCT emaj-17 39 3 2000 2000 NUM emaj-17 39 4 ) ) PUNCT emaj-17 39 5 explains explain VERB emaj-17 39 6 the the DET emaj-17 39 7 word word NOUN emaj-17 39 8 ' ' PUNCT emaj-17 39 9 corruption corruption NOUN emaj-17 39 10 ' ' PUNCT emaj-17 39 11 in in ADP emaj-17 39 12 several several ADJ emaj-17 39 13 different different ADJ emaj-17 39 14 ways way NOUN emaj-17 39 15 , , PUNCT emaj-17 39 16 but but CCONJ emaj-17 39 17 in in ADP emaj-17 39 18 an an DET emaj-17 39 19 ethical ethical ADJ emaj-17 39 20 sense sense NOUN emaj-17 39 21 corruption corruption NOUN emaj-17 39 22 refers refer VERB emaj-17 39 23 to to ADP emaj-17 39 24 humiliation humiliation NOUN emaj-17 39 25 of of ADP emaj-17 39 26 agents agent NOUN emaj-17 39 27 due due ADP emaj-17 39 28 to to ADP emaj-17 39 29 the the DET emaj-17 39 30 deficiency deficiency NOUN emaj-17 39 31 of of ADP emaj-17 39 32 moral moral ADJ emaj-17 39 33 principles principle NOUN emaj-17 39 34 . . PUNCT emaj-17 40 1 according accord VERB emaj-17 40 2 to to ADP emaj-17 40 3 gambetta gambetta NOUN emaj-17 40 4 practices practice NOUN emaj-17 40 5 such such ADJ emaj-17 40 6 as as ADP emaj-17 40 7 bribery bribery NOUN emaj-17 40 8 or or CCONJ emaj-17 40 9 kickbacks kickback NOUN emaj-17 40 10 are be AUX emaj-17 40 11 considered consider VERB emaj-17 40 12 acts act NOUN emaj-17 40 13 of of ADP emaj-17 40 14 corruption corruption NOUN emaj-17 40 15 because because SCONJ emaj-17 40 16 of of ADP emaj-17 40 17 the the DET emaj-17 40 18 virtues virtue NOUN emaj-17 40 19 they they PRON emaj-17 40 20 display display VERB emaj-17 40 21 . . PUNCT emaj-17 41 1 in in ADP emaj-17 41 2 the the DET emaj-17 41 3 practice practice NOUN emaj-17 41 4 of of ADP emaj-17 41 5 corruption corruption NOUN emaj-17 41 6 , , PUNCT emaj-17 41 7 gambetta gambetta NOUN emaj-17 41 8 considers consider VERB emaj-17 41 9 the the DET emaj-17 41 10 involvement involvement NOUN emaj-17 41 11 of of ADP emaj-17 41 12 three three NUM emaj-17 41 13 agents agent NOUN emaj-17 41 14 rather rather ADV emaj-17 41 15 than than ADP emaj-17 41 16 two two NUM emaj-17 41 17 , , PUNCT emaj-17 41 18 the the DET emaj-17 41 19 ' ' PUNCT emaj-17 41 20 truster truster NOUN emaj-17 41 21 ' ' PUNCT emaj-17 41 22 , , PUNCT emaj-17 41 23 the the DET emaj-17 41 24 ' ' PUNCT emaj-17 41 25 fiduciary fiduciary ADJ emaj-17 41 26 ' ' PUNCT emaj-17 41 27 , , PUNCT emaj-17 41 28 and and CCONJ emaj-17 41 29 the the DET emaj-17 41 30 ' ' PUNCT emaj-17 41 31 corrupter corrupter NOUN emaj-17 41 32 ' ' PUNCT emaj-17 41 33 . . PUNCT emaj-17 42 1 hence hence ADV emaj-17 42 2 , , PUNCT emaj-17 42 3 corruption corruption NOUN emaj-17 42 4 is be AUX emaj-17 42 5 multifaceted multifaceted ADJ emaj-17 42 6 . . PUNCT emaj-17 43 1 “ " PUNCT emaj-17 43 2 there there PRON emaj-17 43 3 are be VERB emaj-17 43 4 primarily primarily ADV emaj-17 43 5 three three NUM emaj-17 43 6 different different ADJ emaj-17 43 7 types type NOUN emaj-17 43 8 of of ADP emaj-17 43 9 corruption corruption NOUN emaj-17 43 10 : : PUNCT emaj-17 43 11 bureaucratic bureaucratic ADJ emaj-17 43 12 corruption corruption NOUN emaj-17 43 13 where where SCONJ emaj-17 43 14 officials official NOUN emaj-17 43 15 take take VERB emaj-17 43 16 bribes bribe NOUN emaj-17 43 17 ; ; PUNCT emaj-17 43 18 political political ADJ emaj-17 43 19 corruption corruption NOUN emaj-17 43 20 where where SCONJ emaj-17 43 21 politicians politician NOUN emaj-17 43 22 take take VERB emaj-17 43 23 bribes bribe NOUN emaj-17 43 24 using use VERB emaj-17 43 25 their their PRON emaj-17 43 26 positions position NOUN emaj-17 43 27 of of ADP emaj-17 43 28 power power NOUN emaj-17 43 29 ; ; PUNCT emaj-17 43 30 and and CCONJ emaj-17 43 31 grand grand ADJ emaj-17 43 32 corruption corruption NOUN emaj-17 43 33 meaning mean VERB emaj-17 43 34 misuse misuse NOUN emaj-17 43 35 of of ADP emaj-17 43 36 public public ADJ emaj-17 43 37 power power NOUN emaj-17 43 38 by by ADP emaj-17 43 39 heads head NOUN emaj-17 43 40 of of ADP emaj-17 43 41 states state NOUN emaj-17 43 42 , , PUNCT emaj-17 43 43 ministers minister NOUN emaj-17 43 44 and and CCONJ emaj-17 43 45 top top ADJ emaj-17 43 46 officials official NOUN emaj-17 43 47 for for ADP emaj-17 43 48 private private ADJ emaj-17 43 49 , , PUNCT emaj-17 43 50 pecuniary pecuniary ADJ emaj-17 43 51 profit profit NOUN emaj-17 43 52 ” " PUNCT emaj-17 43 53 ( ( PUNCT emaj-17 43 54 osbourne osbourne ADJ emaj-17 43 55 , , PUNCT emaj-17 43 56 1997 1997 NUM emaj-17 43 57 , , PUNCT emaj-17 43 58 p. p. NOUN emaj-17 43 59 10 10 NUM emaj-17 43 60 ) ) PUNCT emaj-17 43 61 . . PUNCT emaj-17 44 1 corruption corruption NOUN emaj-17 44 2 may may AUX emaj-17 44 3 also also ADV emaj-17 44 4 affect affect VERB emaj-17 44 5 other other ADJ emaj-17 44 6 areas area NOUN emaj-17 44 7 such such ADJ emaj-17 44 8 as as ADP emaj-17 44 9 such such ADJ emaj-17 44 10 as as ADP emaj-17 44 11 threats threat NOUN emaj-17 44 12 to to ADP emaj-17 44 13 defense defense NOUN emaj-17 44 14 and and CCONJ emaj-17 44 15 national national ADJ emaj-17 44 16 security security NOUN emaj-17 44 17 , , PUNCT emaj-17 44 18 environmental environmental ADJ emaj-17 44 19 degradation degradation NOUN emaj-17 44 20 , , PUNCT emaj-17 44 21 and and CCONJ emaj-17 44 22 dissatisfaction dissatisfaction NOUN emaj-17 44 23 with with ADP emaj-17 44 24 the the DET emaj-17 44 25 system system NOUN emaj-17 44 26 of of ADP emaj-17 44 27 democracy democracy NOUN emaj-17 44 28 . . PUNCT emaj-17 45 1 there there PRON emaj-17 45 2 are be VERB emaj-17 45 3 many many ADJ emaj-17 45 4 forms form NOUN emaj-17 45 5 of of ADP emaj-17 45 6 corruption corruption NOUN emaj-17 45 7 including include VERB emaj-17 45 8 bribery bribery NOUN emaj-17 45 9 , , PUNCT emaj-17 45 10 kickbacks kickback NOUN emaj-17 45 11 , , PUNCT emaj-17 45 12 extortion extortion NOUN emaj-17 45 13 , , PUNCT emaj-17 45 14 and and CCONJ emaj-17 45 15 embezzlement embezzlement NOUN emaj-17 45 16 to to PART emaj-17 45 17 name name VERB emaj-17 45 18 a a DET emaj-17 45 19 few few ADJ emaj-17 45 20 . . PUNCT emaj-17 46 1 corruption corruption NOUN emaj-17 46 2 is be AUX emaj-17 46 3 more more ADV emaj-17 46 4 prominent prominent ADJ emaj-17 46 5 in in ADP emaj-17 46 6 countries country NOUN emaj-17 46 7 where where SCONJ emaj-17 46 8 the the DET emaj-17 46 9 anti anti ADJ emaj-17 46 10 - - ADJ emaj-17 46 11 corruption corruption ADJ emaj-17 46 12 laws law NOUN emaj-17 46 13 are be AUX emaj-17 46 14 weak weak ADJ emaj-17 46 15 , , PUNCT emaj-17 46 16 such such ADJ emaj-17 46 17 as as ADP emaj-17 46 18 emerging emerge VERB emaj-17 46 19 markets market NOUN emaj-17 46 20 . . PUNCT emaj-17 47 1 managers manager NOUN emaj-17 47 2 are be AUX emaj-17 47 3 more more ADV emaj-17 47 4 tempted tempt VERB emaj-17 47 5 to to PART emaj-17 47 6 pay pay VERB emaj-17 47 7 off off ADP emaj-17 47 8 government government NOUN emaj-17 47 9 officials official NOUN emaj-17 47 10 to to PART emaj-17 47 11 get get VERB emaj-17 47 12 what what PRON emaj-17 47 13 they they PRON emaj-17 47 14 want want VERB emaj-17 47 15 to to PART emaj-17 47 16 close close VERB emaj-17 47 17 the the DET emaj-17 47 18 deal deal NOUN emaj-17 47 19 . . PUNCT emaj-17 48 1 causes cause NOUN emaj-17 48 2 of of ADP emaj-17 48 3 such such ADJ emaj-17 48 4 corruption corruption NOUN emaj-17 48 5 are be AUX emaj-17 48 6 often often ADV emaj-17 48 7 directly directly ADV emaj-17 48 8 related relate VERB emaj-17 48 9 to to ADP emaj-17 48 10 the the DET emaj-17 48 11 level level NOUN emaj-17 48 12 of of ADP emaj-17 48 13 development development NOUN emaj-17 48 14 within within ADP emaj-17 48 15 the the DET emaj-17 48 16 country country NOUN emaj-17 48 17 . . PUNCT emaj-17 49 1 emerging emerge VERB emaj-17 49 2 market market NOUN emaj-17 49 3 countries country NOUN emaj-17 49 4 typically typically ADV emaj-17 49 5 have have VERB emaj-17 49 6 issues issue NOUN emaj-17 49 7 with with ADP emaj-17 49 8 poor poor ADJ emaj-17 49 9 economic economic ADJ emaj-17 49 10 policies policy NOUN emaj-17 49 11 , , PUNCT emaj-17 49 12 deprived deprive VERB emaj-17 49 13 civil civil ADJ emaj-17 49 14 society society NOUN emaj-17 49 15 , , PUNCT emaj-17 49 16 low low ADJ emaj-17 49 17 levels level NOUN emaj-17 49 18 of of ADP emaj-17 49 19 education education NOUN emaj-17 49 20 , , PUNCT emaj-17 49 21 and and CCONJ emaj-17 49 22 weak weak ADJ emaj-17 49 23 accountability accountability NOUN emaj-17 49 24 of of ADP emaj-17 49 25 public public ADJ emaj-17 49 26 institutions institution NOUN emaj-17 49 27 ( ( PUNCT emaj-17 49 28 world world PROPN emaj-17 49 29 bank bank PROPN emaj-17 49 30 , , PUNCT emaj-17 49 31 1997a 1997a NUM emaj-17 49 32 , , PUNCT emaj-17 49 33 b b NOUN emaj-17 49 34 ) ) PUNCT emaj-17 49 35 . . PUNCT emaj-17 50 1 government government NOUN emaj-17 50 2 contracts contract NOUN emaj-17 50 3 may may AUX emaj-17 50 4 be be AUX emaj-17 50 5 awarded award VERB emaj-17 50 6 to to ADP emaj-17 50 7 contractors contractor NOUN emaj-17 50 8 who who PRON emaj-17 50 9 are be AUX emaj-17 50 10 unwilling unwilling ADJ emaj-17 50 11 or or CCONJ emaj-17 50 12 incapable incapable ADJ emaj-17 50 13 of of ADP emaj-17 50 14 completing complete VERB emaj-17 50 15 the the DET emaj-17 50 16 work work NOUN emaj-17 50 17 to to PART emaj-17 50 18 comply comply VERB emaj-17 50 19 with with ADP emaj-17 50 20 industry industry NOUN emaj-17 50 21 standards standard NOUN emaj-17 50 22 . . PUNCT emaj-17 51 1 this this PRON emaj-17 51 2 makes make VERB emaj-17 51 3 it it PRON emaj-17 51 4 hard hard ADJ emaj-17 51 5 for for SCONJ emaj-17 51 6 a a DET emaj-17 51 7 country country NOUN emaj-17 51 8 to to PART emaj-17 51 9 grow grow VERB emaj-17 51 10 and and CCONJ emaj-17 51 11 attract attract VERB emaj-17 51 12 foreign foreign ADJ emaj-17 51 13 direct direct ADJ emaj-17 51 14 investment investment NOUN emaj-17 51 15 if if SCONJ emaj-17 51 16 the the DET emaj-17 51 17 infrastructure infrastructure NOUN emaj-17 51 18 is be AUX emaj-17 51 19 not not PART emaj-17 51 20 improving improve VERB emaj-17 51 21 . . PUNCT emaj-17 52 1 the the DET emaj-17 52 2 influence influence NOUN emaj-17 52 3 of of ADP emaj-17 52 4 corruption corruption NOUN emaj-17 52 5 on on ADP emaj-17 52 6 corporate corporate ADJ emaj-17 52 7 governance governance NOUN emaj-17 52 8 standards standard NOUN emaj-17 52 9 : : PUNCT emaj-17 52 10 shared share VERB emaj-17 52 11 characteristics characteristic NOUN emaj-17 52 12 of of ADP emaj-17 52 13 rapidly rapidly ADV emaj-17 52 14 developing develop VERB emaj-17 52 15 economies economy NOUN emaj-17 52 16 emerging emerge VERB emaj-17 52 17 markets market NOUN emaj-17 52 18 journal journal NOUN emaj-17 52 19 | | ADV emaj-17 52 20 p p NOUN emaj-17 52 21 a a PRON emaj-17 52 22 g g NOUN emaj-17 52 23 e e NOUN emaj-17 52 24 | | ADV emaj-17 52 25 23 23 NUM emaj-17 52 26 volume volume NOUN emaj-17 52 27 2 2 NUM emaj-17 52 28 ( ( PUNCT emaj-17 52 29 2012 2012 NUM emaj-17 52 30 ) ) PUNCT emaj-17 52 31 | | ADV emaj-17 52 32 issn issn VERB emaj-17 52 33 2158 2158 NUM emaj-17 52 34 - - SYM emaj-17 52 35 8708 8708 NUM emaj-17 52 36 ( ( PUNCT emaj-17 52 37 online online NOUN emaj-17 52 38 ) ) PUNCT emaj-17 52 39 | | ADV emaj-17 52 40 doi doi X emaj-17 52 41 10.5195 10.5195 NUM emaj-17 52 42 / / SYM emaj-17 52 43 emaj.2012.17 emaj.2012.17 NOUN emaj-17 53 1 | | ADV emaj-17 53 2 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 53 3 on on ADP emaj-17 53 4 the the DET emaj-17 53 5 other other ADJ emaj-17 53 6 hand hand NOUN emaj-17 53 7 , , PUNCT emaj-17 54 1 kaufmann kaufmann PROPN emaj-17 54 2 and and CCONJ emaj-17 54 3 jin jin PROPN emaj-17 54 4 wei wei PROPN emaj-17 54 5 ( ( PUNCT emaj-17 54 6 2000 2000 NUM emaj-17 54 7 ) ) PUNCT emaj-17 54 8 suggest suggest VERB emaj-17 54 9 that that SCONJ emaj-17 54 10 in in ADP emaj-17 54 11 the the DET emaj-17 54 12 past past NOUN emaj-17 54 13 , , PUNCT emaj-17 54 14 political political ADJ emaj-17 54 15 scientists scientist NOUN emaj-17 54 16 pointed point VERB emaj-17 54 17 out out ADP emaj-17 54 18 that that SCONJ emaj-17 54 19 corruption corruption NOUN emaj-17 54 20 may may AUX emaj-17 54 21 improve improve VERB emaj-17 54 22 efficiency efficiency NOUN emaj-17 54 23 , , PUNCT emaj-17 54 24 especially especially ADV emaj-17 54 25 in in ADP emaj-17 54 26 developing develop VERB emaj-17 54 27 countries country NOUN emaj-17 54 28 since since SCONJ emaj-17 54 29 it it PRON emaj-17 54 30 is be AUX emaj-17 54 31 related relate VERB emaj-17 54 32 to to ADP emaj-17 54 33 bribery bribery NOUN emaj-17 54 34 and and CCONJ emaj-17 54 35 gradually gradually ADV emaj-17 54 36 leading lead VERB emaj-17 54 37 to to ADP emaj-17 54 38 " " PUNCT emaj-17 54 39 lower low ADJ emaj-17 54 40 effective effective ADJ emaj-17 54 41 red red ADJ emaj-17 54 42 - - PUNCT emaj-17 54 43 tape tape NOUN emaj-17 54 44 . . PUNCT emaj-17 54 45 " " PUNCT emaj-17 55 1 consequently consequently ADV emaj-17 55 2 , , PUNCT emaj-17 55 3 kaufmann kaufmann PROPN emaj-17 55 4 and and CCONJ emaj-17 55 5 jin jin PROPN emaj-17 55 6 wei wei PROPN emaj-17 55 7 label label VERB emaj-17 55 8 the the DET emaj-17 55 9 theory theory NOUN emaj-17 55 10 as as ADP emaj-17 55 11 the the DET emaj-17 55 12 " " PUNCT emaj-17 55 13 efficient efficient ADJ emaj-17 55 14 grease grease NOUN emaj-17 55 15 theory theory NOUN emaj-17 55 16 " " PUNCT emaj-17 55 17 . . PUNCT emaj-17 56 1 however however ADV emaj-17 56 2 , , PUNCT emaj-17 56 3 other other ADJ emaj-17 56 4 scholars scholar NOUN emaj-17 56 5 propose propose VERB emaj-17 56 6 that that SCONJ emaj-17 56 7 with with ADP emaj-17 56 8 corruption corruption NOUN emaj-17 56 9 come come VERB emaj-17 56 10 a a DET emaj-17 56 11 variety variety NOUN emaj-17 56 12 of of ADP emaj-17 56 13 consequences consequence NOUN emaj-17 56 14 such such ADJ emaj-17 56 15 as as ADP emaj-17 56 16 negative negative ADJ emaj-17 56 17 economic economic ADJ emaj-17 56 18 growth growth NOUN emaj-17 56 19 , , PUNCT emaj-17 56 20 foreign foreign ADJ emaj-17 56 21 and and CCONJ emaj-17 56 22 domestic domestic ADJ emaj-17 56 23 investment investment NOUN emaj-17 56 24 and and CCONJ emaj-17 56 25 so so ADV emaj-17 56 26 forth forth ADV emaj-17 56 27 . . PUNCT emaj-17 57 1 shleifer shleifer PROPN emaj-17 57 2 and and CCONJ emaj-17 57 3 vishny vishny PROPN emaj-17 57 4 ( ( PUNCT emaj-17 57 5 1993 1993 NUM emaj-17 57 6 ) ) PUNCT emaj-17 57 7 point point VERB emaj-17 57 8 out out ADP emaj-17 57 9 that that SCONJ emaj-17 57 10 a a DET emaj-17 57 11 country country NOUN emaj-17 57 12 's 's PART emaj-17 57 13 regulatory regulatory ADJ emaj-17 57 14 significance significance NOUN emaj-17 57 15 can can AUX emaj-17 57 16 be be AUX emaj-17 57 17 exploited exploit VERB emaj-17 57 18 by by ADP emaj-17 57 19 corruption corruption NOUN emaj-17 57 20 . . PUNCT emaj-17 58 1 similarly similarly ADV emaj-17 58 2 , , PUNCT emaj-17 58 3 in in ADP emaj-17 58 4 a a DET emaj-17 58 5 world world NOUN emaj-17 58 6 bank bank NOUN emaj-17 58 7 study study NOUN emaj-17 58 8 on on ADP emaj-17 58 9 transition transition NOUN emaj-17 58 10 economies economy NOUN emaj-17 58 11 , , PUNCT emaj-17 58 12 corruption corruption NOUN emaj-17 58 13 is be AUX emaj-17 58 14 defined define VERB emaj-17 58 15 as as ADP emaj-17 58 16 the the DET emaj-17 58 17 " " PUNCT emaj-17 58 18 major major ADJ emaj-17 58 19 institutional institutional ADJ emaj-17 58 20 constraints constraint NOUN emaj-17 58 21 on on ADP emaj-17 58 22 business business NOUN emaj-17 58 23 ” " PUNCT emaj-17 58 24 where where SCONJ emaj-17 58 25 conventionally conventionally ADV emaj-17 58 26 , , PUNCT emaj-17 58 27 corruption corruption NOUN emaj-17 58 28 is be AUX emaj-17 58 29 defined define VERB emaj-17 58 30 as as ADP emaj-17 58 31 the the DET emaj-17 58 32 abuse abuse NOUN emaj-17 58 33 of of ADP emaj-17 58 34 public public ADJ emaj-17 58 35 office office NOUN emaj-17 58 36 for for ADP emaj-17 58 37 private private ADJ emaj-17 58 38 gain gain NOUN emaj-17 58 39 . . PUNCT emaj-17 58 40 " " PUNCT emaj-17 59 1 ( ( PUNCT emaj-17 59 2 hellman hellman NOUN emaj-17 59 3 , , PUNCT emaj-17 59 4 jones jones PROPN emaj-17 59 5 , , PUNCT emaj-17 59 6 kaufmann kaufmann PROPN emaj-17 59 7 , , PUNCT emaj-17 59 8 and and CCONJ emaj-17 59 9 schankerman schankerman NOUN emaj-17 59 10 , , PUNCT emaj-17 59 11 2000 2000 NUM emaj-17 59 12 , , PUNCT emaj-17 59 13 p. p. NOUN emaj-17 59 14 19 19 NUM emaj-17 59 15 ) ) PUNCT emaj-17 59 16 . . PUNCT emaj-17 60 1 thus thus ADV emaj-17 60 2 , , PUNCT emaj-17 60 3 previous previous ADJ emaj-17 60 4 studies study NOUN emaj-17 60 5 find find VERB emaj-17 60 6 that that SCONJ emaj-17 60 7 corruption corruption NOUN emaj-17 60 8 is be AUX emaj-17 60 9 a a DET emaj-17 60 10 problem problem NOUN emaj-17 60 11 of of ADP emaj-17 60 12 governance governance NOUN emaj-17 60 13 . . PUNCT emaj-17 61 1 as as ADP emaj-17 61 2 a a DET emaj-17 61 3 result result NOUN emaj-17 61 4 , , PUNCT emaj-17 61 5 the the DET emaj-17 61 6 second second ADJ emaj-17 61 7 strand strand NOUN emaj-17 61 8 of of ADP emaj-17 61 9 previous previous ADJ emaj-17 61 10 literature literature NOUN emaj-17 61 11 in in ADP emaj-17 61 12 this this DET emaj-17 61 13 paper paper NOUN emaj-17 61 14 is be AUX emaj-17 61 15 related relate VERB emaj-17 61 16 to to ADP emaj-17 61 17 corporate corporate ADJ emaj-17 61 18 governance governance NOUN emaj-17 61 19 . . PUNCT emaj-17 62 1 cochran cochran NOUN emaj-17 62 2 and and CCONJ emaj-17 62 3 wartick wartick NOUN emaj-17 62 4 describe describe VERB emaj-17 62 5 corporate corporate ADJ emaj-17 62 6 governance governance NOUN emaj-17 62 7 as as ADP emaj-17 62 8 an an DET emaj-17 62 9 " " PUNCT emaj-17 62 10 umbrella umbrella NOUN emaj-17 62 11 term term NOUN emaj-17 62 12 that that PRON emaj-17 62 13 includes include VERB emaj-17 62 14 specific specific ADJ emaj-17 62 15 issues issue NOUN emaj-17 62 16 arising arise VERB emaj-17 62 17 from from ADP emaj-17 62 18 interaction interaction NOUN emaj-17 62 19 among among ADP emaj-17 62 20 senior senior ADJ emaj-17 62 21 management management NOUN emaj-17 62 22 , , PUNCT emaj-17 62 23 shareholders shareholder NOUN emaj-17 62 24 , , PUNCT emaj-17 62 25 board board NOUN emaj-17 62 26 of of ADP emaj-17 62 27 directors director NOUN emaj-17 62 28 , , PUNCT emaj-17 62 29 and and CCONJ emaj-17 62 30 other other ADJ emaj-17 62 31 corporate corporate ADJ emaj-17 62 32 shareholders shareholder NOUN emaj-17 62 33 ” " PUNCT emaj-17 62 34 ( ( PUNCT emaj-17 62 35 cochran cochran NOUN emaj-17 62 36 and and CCONJ emaj-17 62 37 wartick wartick NOUN emaj-17 62 38 , , PUNCT emaj-17 62 39 1988 1988 NUM emaj-17 62 40 , , PUNCT emaj-17 62 41 p. p. NOUN emaj-17 62 42 9 9 NUM emaj-17 62 43 ) ) PUNCT emaj-17 62 44 . . PUNCT emaj-17 63 1 “ " PUNCT emaj-17 63 2 corporate corporate ADJ emaj-17 63 3 governance governance NOUN emaj-17 63 4 ensures ensure VERB emaj-17 63 5 transparency transparency NOUN emaj-17 63 6 , , PUNCT emaj-17 63 7 full full ADJ emaj-17 63 8 disclosures disclosure NOUN emaj-17 63 9 and and CCONJ emaj-17 63 10 accountability accountability NOUN emaj-17 63 11 of of ADP emaj-17 63 12 companies company NOUN emaj-17 63 13 to to ADP emaj-17 63 14 all all DET emaj-17 63 15 its its PRON emaj-17 63 16 stakeholders stakeholder NOUN emaj-17 63 17 ” " PUNCT emaj-17 63 18 ( ( PUNCT emaj-17 63 19 fernando fernando PROPN emaj-17 63 20 , , PUNCT emaj-17 63 21 2009 2009 NUM emaj-17 63 22 , , PUNCT emaj-17 63 23 p. p. NOUN emaj-17 63 24 31 31 NUM emaj-17 63 25 ) ) PUNCT emaj-17 63 26 . . PUNCT emaj-17 64 1 the the DET emaj-17 64 2 importance importance NOUN emaj-17 64 3 of of ADP emaj-17 64 4 evaluating evaluate VERB emaj-17 64 5 corporate corporate ADJ emaj-17 64 6 governance governance NOUN emaj-17 64 7 becomes become VERB emaj-17 64 8 obvious obvious ADJ emaj-17 64 9 when when SCONJ emaj-17 64 10 profitability profitability NOUN emaj-17 64 11 is be AUX emaj-17 64 12 questionable questionable ADJ emaj-17 64 13 due due ADJ emaj-17 64 14 to to ADP emaj-17 64 15 disruptions disruption NOUN emaj-17 64 16 in in ADP emaj-17 64 17 operations operation NOUN emaj-17 64 18 or or CCONJ emaj-17 64 19 having have VERB emaj-17 64 20 to to PART emaj-17 64 21 incur incur VERB emaj-17 64 22 additional additional ADJ emaj-17 64 23 unforeseen unforeseen ADJ emaj-17 64 24 costs cost NOUN emaj-17 64 25 due due ADJ emaj-17 64 26 to to ADP emaj-17 64 27 corruption corruption NOUN emaj-17 64 28 . . PUNCT emaj-17 65 1 corporate corporate ADJ emaj-17 65 2 governance governance NOUN emaj-17 65 3 is be AUX emaj-17 65 4 ‘ ' PUNCT emaj-17 65 5 typically typically ADV emaj-17 65 6 perceived perceive VERB emaj-17 65 7 by by ADP emaj-17 65 8 academic academic ADJ emaj-17 65 9 literature literature NOUN emaj-17 65 10 as as ADP emaj-17 65 11 dealing deal VERB emaj-17 65 12 with with ADP emaj-17 65 13 ‘ ' PUNCT emaj-17 65 14 problems problem NOUN emaj-17 65 15 that that PRON emaj-17 65 16 result result VERB emaj-17 65 17 from from ADP emaj-17 65 18 the the DET emaj-17 65 19 separation separation NOUN emaj-17 65 20 of of ADP emaj-17 65 21 ownership ownership NOUN emaj-17 65 22 and and CCONJ emaj-17 65 23 control control NOUN emaj-17 65 24 ’ ' PUNCT emaj-17 65 25 . . PUNCT emaj-17 66 1 from from ADP emaj-17 66 2 this this DET emaj-17 66 3 perspective perspective NOUN emaj-17 66 4 , , PUNCT emaj-17 66 5 corporate corporate ADJ emaj-17 66 6 governance governance NOUN emaj-17 66 7 would would AUX emaj-17 66 8 focus focus VERB emaj-17 66 9 on on ADP emaj-17 66 10 : : PUNCT emaj-17 66 11 the the DET emaj-17 66 12 internal internal ADJ emaj-17 66 13 structure structure NOUN emaj-17 66 14 and and CCONJ emaj-17 66 15 rules rule NOUN emaj-17 66 16 of of ADP emaj-17 66 17 the the DET emaj-17 66 18 board board NOUN emaj-17 66 19 of of ADP emaj-17 66 20 directors director NOUN emaj-17 66 21 ; ; PUNCT emaj-17 66 22 the the DET emaj-17 66 23 creation creation NOUN emaj-17 66 24 of of ADP emaj-17 66 25 independent independent ADJ emaj-17 66 26 audit audit NOUN emaj-17 66 27 committees committee NOUN emaj-17 66 28 ; ; PUNCT emaj-17 66 29 rules rule NOUN emaj-17 66 30 for for ADP emaj-17 66 31 disclosure disclosure NOUN emaj-17 66 32 of of ADP emaj-17 66 33 information information NOUN emaj-17 66 34 to to ADP emaj-17 66 35 shareholders shareholder NOUN emaj-17 66 36 and and CCONJ emaj-17 66 37 creditors creditor NOUN emaj-17 66 38 ; ; PUNCT emaj-17 66 39 and and CCONJ emaj-17 66 40 , , PUNCT emaj-17 66 41 control control NOUN emaj-17 66 42 of of ADP emaj-17 66 43 the the DET emaj-17 66 44 management management NOUN emaj-17 66 45 ( ( PUNCT emaj-17 66 46 fernando fernando PROPN emaj-17 66 47 , , PUNCT emaj-17 66 48 2009 2009 NUM emaj-17 66 49 , , PUNCT emaj-17 66 50 p. p. NOUN emaj-17 66 51 9 9 NUM emaj-17 66 52 , , PUNCT emaj-17 66 53 oecd oecd PROPN emaj-17 66 54 , , PUNCT emaj-17 66 55 1997 1997 NUM emaj-17 66 56 ) ) PUNCT emaj-17 66 57 . . PUNCT emaj-17 67 1 wu wu PROPN emaj-17 67 2 argues argue VERB emaj-17 67 3 “ " PUNCT emaj-17 67 4 corporate corporate ADJ emaj-17 67 5 governance governance NOUN emaj-17 67 6 is be AUX emaj-17 67 7 among among ADP emaj-17 67 8 the the DET emaj-17 67 9 important important ADJ emaj-17 67 10 factors factor NOUN emaj-17 67 11 determining determine VERB emaj-17 67 12 the the DET emaj-17 67 13 level level NOUN emaj-17 67 14 of of ADP emaj-17 67 15 corruption corruption NOUN emaj-17 67 16 and and CCONJ emaj-17 67 17 shows show VERB emaj-17 67 18 that that SCONJ emaj-17 67 19 corporate corporate ADJ emaj-17 67 20 governance governance NOUN emaj-17 67 21 standards standard NOUN emaj-17 67 22 can can AUX emaj-17 67 23 have have VERB emaj-17 67 24 profound profound ADJ emaj-17 67 25 impacts impact NOUN emaj-17 67 26 on on ADP emaj-17 67 27 the the DET emaj-17 67 28 effectiveness effectiveness NOUN emaj-17 67 29 of of ADP emaj-17 67 30 the the DET emaj-17 67 31 global global ADJ emaj-17 67 32 anti anti ADJ emaj-17 67 33 - - ADJ emaj-17 67 34 corruption corruption ADJ emaj-17 67 35 campaign campaign NOUN emaj-17 67 36 . . PUNCT emaj-17 67 37 ” " PUNCT emaj-17 68 1 ( ( PUNCT emaj-17 68 2 wu wu PROPN emaj-17 68 3 , , PUNCT emaj-17 68 4 2007 2007 NUM emaj-17 68 5 , , PUNCT emaj-17 68 6 p.152 p.152 NUM emaj-17 68 7 ) ) PUNCT emaj-17 68 8 . . PUNCT emaj-17 69 1 corporate corporate ADJ emaj-17 69 2 governance governance NOUN emaj-17 69 3 specifies specify VERB emaj-17 69 4 the the DET emaj-17 69 5 distribution distribution NOUN emaj-17 69 6 of of ADP emaj-17 69 7 rights right NOUN emaj-17 69 8 and and CCONJ emaj-17 69 9 responsibilities responsibility NOUN emaj-17 69 10 among among ADP emaj-17 69 11 different different ADJ emaj-17 69 12 participants participant NOUN emaj-17 69 13 in in ADP emaj-17 69 14 the the DET emaj-17 69 15 corporation corporation NOUN emaj-17 69 16 , , PUNCT emaj-17 69 17 such such ADJ emaj-17 69 18 as as ADP emaj-17 69 19 the the DET emaj-17 69 20 board board NOUN emaj-17 69 21 , , PUNCT emaj-17 69 22 managers manager NOUN emaj-17 69 23 , , PUNCT emaj-17 69 24 shareholders shareholder NOUN emaj-17 69 25 and and CCONJ emaj-17 69 26 other other ADJ emaj-17 69 27 stakeholders stakeholder NOUN emaj-17 69 28 , , PUNCT emaj-17 69 29 and and CCONJ emaj-17 69 30 spells spell VERB emaj-17 69 31 out out ADP emaj-17 69 32 the the DET emaj-17 69 33 rules rule NOUN emaj-17 69 34 and and CCONJ emaj-17 69 35 procedures procedure NOUN emaj-17 69 36 for for ADP emaj-17 69 37 making make VERB emaj-17 69 38 decisions decision NOUN emaj-17 69 39 on on ADP emaj-17 69 40 corporate corporate ADJ emaj-17 69 41 affairs affair NOUN emaj-17 69 42 ( ( PUNCT emaj-17 69 43 oecd oecd PROPN emaj-17 69 44 , , PUNCT emaj-17 69 45 wu wu PROPN emaj-17 69 46 , , PUNCT emaj-17 69 47 2007 2007 NUM emaj-17 69 48 ) ) PUNCT emaj-17 69 49 . . PUNCT emaj-17 70 1 a a DET emaj-17 70 2 result result NOUN emaj-17 70 3 of of ADP emaj-17 70 4 such such ADJ emaj-17 70 5 studies study NOUN emaj-17 70 6 has have AUX emaj-17 70 7 suggested suggest VERB emaj-17 70 8 that that SCONJ emaj-17 70 9 private private ADJ emaj-17 70 10 firms firm NOUN emaj-17 70 11 are be AUX emaj-17 70 12 entwined entwine VERB emaj-17 70 13 in in ADP emaj-17 70 14 the the DET emaj-17 70 15 process process NOUN emaj-17 70 16 as as SCONJ emaj-17 70 17 they they PRON emaj-17 70 18 take take VERB emaj-17 70 19 advantage advantage NOUN emaj-17 70 20 of of ADP emaj-17 70 21 administrative administrative ADJ emaj-17 70 22 corruption corruption NOUN emaj-17 70 23 , , PUNCT emaj-17 70 24 become become VERB emaj-17 70 25 involved involve VERB emaj-17 70 26 in in ADP emaj-17 70 27 public public ADJ emaj-17 70 28 procurement procurement NOUN emaj-17 70 29 kickbacks kickback NOUN emaj-17 70 30 and and CCONJ emaj-17 70 31 state state NOUN emaj-17 70 32 capture capture NOUN emaj-17 70 33 due due ADP emaj-17 70 34 to to ADP emaj-17 70 35 the the DET emaj-17 70 36 economic economic ADJ emaj-17 70 37 implications implication NOUN emaj-17 70 38 of of ADP emaj-17 70 39 corruption corruption NOUN emaj-17 70 40 . . PUNCT emaj-17 71 1 generally generally ADV emaj-17 71 2 , , PUNCT emaj-17 71 3 in in ADP emaj-17 71 4 weak weak ADJ emaj-17 71 5 states state NOUN emaj-17 71 6 controlling control VERB emaj-17 71 7 the the DET emaj-17 71 8 bureaucrats bureaucrat NOUN emaj-17 71 9 is be AUX emaj-17 71 10 almost almost ADV emaj-17 71 11 impossible impossible ADJ emaj-17 71 12 thereby thereby ADV emaj-17 71 13 furnishing furnish VERB emaj-17 71 14 an an DET emaj-17 71 15 effectual effectual ADJ emaj-17 71 16 rule rule NOUN emaj-17 71 17 of of ADP emaj-17 71 18 law law NOUN emaj-17 71 19 becomes become VERB emaj-17 71 20 impossible impossible ADJ emaj-17 71 21 as as ADV emaj-17 71 22 well well ADV emaj-17 71 23 . . PUNCT emaj-17 72 1 all all PRON emaj-17 72 2 of of ADP emaj-17 72 3 these these DET emaj-17 72 4 elements element NOUN emaj-17 72 5 encourage encourage VERB emaj-17 72 6 the the DET emaj-17 72 7 spread spread NOUN emaj-17 72 8 of of ADP emaj-17 72 9 corruption corruption NOUN emaj-17 72 10 . . PUNCT emaj-17 73 1 the the DET emaj-17 73 2 authors author NOUN emaj-17 73 3 further far ADV emaj-17 73 4 argue argue VERB emaj-17 73 5 that that SCONJ emaj-17 73 6 having have VERB emaj-17 73 7 a a DET emaj-17 73 8 large large ADJ emaj-17 73 9 state state NOUN emaj-17 73 10 intervention intervention NOUN emaj-17 73 11 in in ADP emaj-17 73 12 the the DET emaj-17 73 13 economy economy NOUN emaj-17 73 14 but but CCONJ emaj-17 73 15 not not PART emaj-17 73 16 acknowledging acknowledge VERB emaj-17 73 17 that that SCONJ emaj-17 73 18 corruption corruption NOUN emaj-17 73 19 does do AUX emaj-17 73 20 in in ADP emaj-17 73 21 fact fact NOUN emaj-17 73 22 exist exist NOUN emaj-17 73 23 creates create VERB emaj-17 73 24 the the DET emaj-17 73 25 enigma enigma NOUN emaj-17 73 26 of of ADP emaj-17 73 27 ' ' PUNCT emaj-17 73 28 state state NOUN emaj-17 73 29 - - PUNCT emaj-17 73 30 capture capture NOUN emaj-17 73 31 ' ' PUNCT emaj-17 73 32 . . PUNCT emaj-17 74 1 the the DET emaj-17 74 2 authors author NOUN emaj-17 74 3 define define VERB emaj-17 74 4 ' ' PUNCT emaj-17 74 5 state state NOUN emaj-17 74 6 - - PUNCT emaj-17 74 7 capture capture NOUN emaj-17 74 8 ' ' PUNCT emaj-17 74 9 as as ADP emaj-17 74 10 " " PUNCT emaj-17 74 11 the the DET emaj-17 74 12 effects effect NOUN emaj-17 74 13 of of ADP emaj-17 74 14 firms firm NOUN emaj-17 74 15 to to PART emaj-17 74 16 shape shape VERB emaj-17 74 17 and and CCONJ emaj-17 74 18 influence influence VERB emaj-17 74 19 the the DET emaj-17 74 20 underlying underlie VERB emaj-17 74 21 rules rule NOUN emaj-17 74 22 of of ADP emaj-17 74 23 the the DET emaj-17 74 24 game game NOUN emaj-17 74 25 ( ( PUNCT emaj-17 74 26 i.e. i.e. X emaj-17 74 27 legislation legislation NOUN emaj-17 74 28 , , PUNCT emaj-17 74 29 laws law NOUN emaj-17 74 30 , , PUNCT emaj-17 74 31 rules rule NOUN emaj-17 74 32 , , PUNCT emaj-17 74 33 and and CCONJ emaj-17 74 34 decrees decree NOUN emaj-17 74 35 ) ) PUNCT emaj-17 74 36 through through ADP emaj-17 74 37 private private ADJ emaj-17 74 38 payments payment NOUN emaj-17 74 39 to to ADP emaj-17 74 40 the the DET emaj-17 74 41 public public NOUN emaj-17 74 42 . . PUNCT emaj-17 74 43 " " PUNCT emaj-17 75 1 ( ( PUNCT emaj-17 75 2 hellman hellman NOUN emaj-17 75 3 , , PUNCT emaj-17 75 4 jones jones PROPN emaj-17 75 5 , , PUNCT emaj-17 75 6 kaufmann kaufmann PROPN emaj-17 75 7 , , PUNCT emaj-17 75 8 and and CCONJ emaj-17 75 9 schankerman schankerman NOUN emaj-17 75 10 , , PUNCT emaj-17 75 11 p.1 p.1 NOUN emaj-17 75 12 , , PUNCT emaj-17 75 13 2000 2000 NUM emaj-17 75 14 ) ) PUNCT emaj-17 75 15 . . PUNCT emaj-17 76 1 xun xun PROPN emaj-17 76 2 ( ( PUNCT emaj-17 76 3 2002 2002 NUM emaj-17 76 4 ) ) PUNCT emaj-17 76 5 finds find VERB emaj-17 76 6 that that SCONJ emaj-17 76 7 poor poor ADJ emaj-17 76 8 corporate corporate ADJ emaj-17 76 9 governance governance NOUN emaj-17 76 10 standards standard NOUN emaj-17 76 11 contribute contribute VERB emaj-17 76 12 to to ADP emaj-17 76 13 the the DET emaj-17 76 14 proliferation proliferation NOUN emaj-17 76 15 of of ADP emaj-17 76 16 corruption corruption NOUN emaj-17 76 17 due due ADJ emaj-17 76 18 to to ADP emaj-17 76 19 damaging damage VERB emaj-17 76 20 the the DET emaj-17 76 21 interests interest NOUN emaj-17 76 22 of of ADP emaj-17 76 23 investors investor NOUN emaj-17 76 24 and and CCONJ emaj-17 76 25 reducing reduce VERB emaj-17 76 26 existing exist VERB emaj-17 76 27 transparency transparency NOUN emaj-17 76 28 . . PUNCT emaj-17 77 1 asset asset NOUN emaj-17 77 2 diversion diversion NOUN emaj-17 77 3 , , PUNCT emaj-17 77 4 transfer transfer NOUN emaj-17 77 5 prices price NOUN emaj-17 77 6 and and CCONJ emaj-17 77 7 theft theft NOUN emaj-17 77 8 are be AUX emaj-17 77 9 all all PRON emaj-17 77 10 examples example NOUN emaj-17 77 11 of of ADP emaj-17 77 12 preferential preferential ADJ emaj-17 77 13 treatment treatment NOUN emaj-17 77 14 of of ADP emaj-17 77 15 investors investor NOUN emaj-17 77 16 and and CCONJ emaj-17 77 17 insiders insider NOUN emaj-17 77 18 as as ADP emaj-17 77 19 a a DET emaj-17 77 20 result result NOUN emaj-17 77 21 of of ADP emaj-17 77 22 the the DET emaj-17 77 23 corrupt corrupt ADJ emaj-17 77 24 practice practice NOUN emaj-17 77 25 of of ADP emaj-17 77 26 falsifying falsify VERB emaj-17 77 27 information information NOUN emaj-17 77 28 . . PUNCT emaj-17 78 1 inevitably inevitably ADV emaj-17 78 2 , , PUNCT emaj-17 78 3 impaired impaired ADJ emaj-17 78 4 investor investor NOUN emaj-17 78 5 confidence confidence NOUN emaj-17 78 6 , , PUNCT emaj-17 78 7 exacerbated exacerbate VERB emaj-17 78 8 by by ADP emaj-17 78 9 inferior inferior ADJ emaj-17 78 10 corporate corporate ADJ emaj-17 78 11 governance governance NOUN emaj-17 78 12 standards standard NOUN emaj-17 78 13 and and CCONJ emaj-17 78 14 corruption corruption NOUN emaj-17 78 15 negatively negatively ADV emaj-17 78 16 the the DET emaj-17 78 17 influence influence NOUN emaj-17 78 18 of of ADP emaj-17 78 19 corruption corruption NOUN emaj-17 78 20 on on ADP emaj-17 78 21 corporate corporate ADJ emaj-17 78 22 governance governance NOUN emaj-17 78 23 standards standard NOUN emaj-17 78 24 : : PUNCT emaj-17 78 25 shared share VERB emaj-17 78 26 characteristics characteristic NOUN emaj-17 78 27 of of ADP emaj-17 78 28 rapidly rapidly ADV emaj-17 78 29 developing develop VERB emaj-17 78 30 economies economy NOUN emaj-17 78 31 emerging emerge VERB emaj-17 78 32 markets market NOUN emaj-17 78 33 journal journal NOUN emaj-17 78 34 | | ADV emaj-17 78 35 p p NOUN emaj-17 78 36 a a DET emaj-17 78 37 g g NOUN emaj-17 78 38 e e NOUN emaj-17 78 39 | | ADV emaj-17 78 40 24 24 NUM emaj-17 78 41 volume volume NOUN emaj-17 78 42 2 2 NUM emaj-17 78 43 ( ( PUNCT emaj-17 78 44 2012 2012 NUM emaj-17 78 45 ) ) PUNCT emaj-17 78 46 | | ADV emaj-17 78 47 issn issn VERB emaj-17 78 48 2158 2158 NUM emaj-17 78 49 - - SYM emaj-17 78 50 8708 8708 NUM emaj-17 78 51 ( ( PUNCT emaj-17 78 52 online online NOUN emaj-17 78 53 ) ) PUNCT emaj-17 79 1 | | ADV emaj-17 79 2 doi doi X emaj-17 79 3 10.5195 10.5195 NUM emaj-17 79 4 / / SYM emaj-17 79 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 79 6 | | ADV emaj-17 79 7 http://emaj.pitt.edu http://emaj.pitt.edu PROPN emaj-17 79 8 affects affect VERB emaj-17 79 9 the the DET emaj-17 79 10 operating operating NOUN emaj-17 79 11 performance performance NOUN emaj-17 79 12 , , PUNCT emaj-17 79 13 raises raise VERB emaj-17 79 14 the the DET emaj-17 79 15 cost cost NOUN emaj-17 79 16 of of ADP emaj-17 79 17 capital capital NOUN emaj-17 79 18 and and CCONJ emaj-17 79 19 reduces reduce VERB emaj-17 79 20 firm firm ADJ emaj-17 79 21 value value NOUN emaj-17 79 22 . . PUNCT emaj-17 80 1 yet yet ADV emaj-17 80 2 there there PRON emaj-17 80 3 are be VERB emaj-17 80 4 other other ADJ emaj-17 80 5 components component NOUN emaj-17 80 6 within within ADP emaj-17 80 7 the the DET emaj-17 80 8 business business NOUN emaj-17 80 9 practices practice NOUN emaj-17 80 10 of of ADP emaj-17 80 11 corporations corporation NOUN emaj-17 80 12 that that PRON emaj-17 80 13 encourage encourage VERB emaj-17 80 14 corruption corruption NOUN emaj-17 80 15 in in ADP emaj-17 80 16 rdes rde NOUN emaj-17 80 17 . . PUNCT emaj-17 81 1 in in ADP emaj-17 81 2 a a DET emaj-17 81 3 study study NOUN emaj-17 81 4 entitled entitle VERB emaj-17 81 5 " " PUNCT emaj-17 81 6 corporate corporate ADJ emaj-17 81 7 ownership ownership NOUN emaj-17 81 8 around around ADP emaj-17 81 9 the the DET emaj-17 81 10 world world NOUN emaj-17 81 11 , , PUNCT emaj-17 81 12 " " PUNCT emaj-17 81 13 la la PRON emaj-17 81 14 porta porta PROPN emaj-17 81 15 , , PUNCT emaj-17 81 16 silanes silane NOUN emaj-17 81 17 , , PUNCT emaj-17 81 18 and and CCONJ emaj-17 81 19 shleifer shleifer NOUN emaj-17 81 20 ( ( PUNCT emaj-17 81 21 1998 1998 NUM emaj-17 81 22 ) ) PUNCT emaj-17 81 23 reference reference NOUN emaj-17 81 24 the the DET emaj-17 81 25 1932 1932 NUM emaj-17 81 26 archetypal archetypal ADJ emaj-17 81 27 , , PUNCT emaj-17 81 28 " " PUNCT emaj-17 81 29 the the DET emaj-17 81 30 modern modern ADJ emaj-17 81 31 corporations corporation NOUN emaj-17 81 32 and and CCONJ emaj-17 81 33 private private ADJ emaj-17 81 34 property property NOUN emaj-17 81 35 , , PUNCT emaj-17 81 36 " " PUNCT emaj-17 81 37 written write VERB emaj-17 81 38 by by ADP emaj-17 81 39 berle berle NOUN emaj-17 81 40 and and CCONJ emaj-17 81 41 means mean NOUN emaj-17 81 42 , , PUNCT emaj-17 81 43 to to PART emaj-17 81 44 show show VERB emaj-17 81 45 the the DET emaj-17 81 46 ownership ownership NOUN emaj-17 81 47 structure structure NOUN emaj-17 81 48 of of ADP emaj-17 81 49 widely widely ADV emaj-17 81 50 held hold VERB emaj-17 81 51 corporations corporation NOUN emaj-17 81 52 of of ADP emaj-17 81 53 the the DET emaj-17 81 54 united united PROPN emaj-17 81 55 states states PROPN emaj-17 81 56 . . PUNCT emaj-17 82 1 in in ADP emaj-17 82 2 the the DET emaj-17 82 3 theory theory NOUN emaj-17 82 4 of of ADP emaj-17 82 5 berle berle PROPN emaj-17 82 6 and and CCONJ emaj-17 82 7 means mean NOUN emaj-17 82 8 , , PUNCT emaj-17 82 9 although although SCONJ emaj-17 82 10 the the DET emaj-17 82 11 capital capital NOUN emaj-17 82 12 was be AUX emaj-17 82 13 separated separate VERB emaj-17 82 14 between between ADP emaj-17 82 15 small small ADJ emaj-17 82 16 shareholders shareholder NOUN emaj-17 82 17 , , PUNCT emaj-17 82 18 the the DET emaj-17 82 19 control control NOUN emaj-17 82 20 was be AUX emaj-17 82 21 still still ADV emaj-17 82 22 concentrated concentrate VERB emaj-17 82 23 within within ADP emaj-17 82 24 the the DET emaj-17 82 25 management management NOUN emaj-17 82 26 . . PUNCT emaj-17 83 1 despite despite SCONJ emaj-17 83 2 the the DET emaj-17 83 3 study study NOUN emaj-17 83 4 being be AUX emaj-17 83 5 done do VERB emaj-17 83 6 for for ADP emaj-17 83 7 the the DET emaj-17 83 8 united united PROPN emaj-17 83 9 states states PROPN emaj-17 83 10 ' ' PART emaj-17 83 11 corporations corporation NOUN emaj-17 83 12 , , PUNCT emaj-17 83 13 years year NOUN emaj-17 83 14 later later ADV emaj-17 83 15 , , PUNCT emaj-17 83 16 this this PRON emaj-17 83 17 is be AUX emaj-17 83 18 still still ADV emaj-17 83 19 unequivocally unequivocally ADV emaj-17 83 20 the the DET emaj-17 83 21 case case NOUN emaj-17 83 22 within within ADP emaj-17 83 23 the the DET emaj-17 83 24 corporations corporation NOUN emaj-17 83 25 in in ADP emaj-17 83 26 rdes rde NOUN emaj-17 83 27 . . PUNCT emaj-17 84 1 the the DET emaj-17 84 2 component component NOUN emaj-17 84 3 of of ADP emaj-17 84 4 ownership ownership NOUN emaj-17 84 5 structure structure NOUN emaj-17 84 6 brings bring VERB emaj-17 84 7 in in ADP emaj-17 84 8 the the DET emaj-17 84 9 issue issue NOUN emaj-17 84 10 of of ADP emaj-17 84 11 shareholder shareholder NOUN emaj-17 84 12 rights right NOUN emaj-17 84 13 as as ADV emaj-17 84 14 well well ADV emaj-17 84 15 as as ADP emaj-17 84 16 the the DET emaj-17 84 17 issue issue NOUN emaj-17 84 18 of of ADP emaj-17 84 19 transparency transparency NOUN emaj-17 84 20 . . PUNCT emaj-17 85 1 albeit albeit SCONJ emaj-17 85 2 perotti perotti VERB emaj-17 85 3 and and CCONJ emaj-17 85 4 von von PROPN emaj-17 85 5 thadden thadden PROPN emaj-17 85 6 ( ( PUNCT emaj-17 85 7 1998 1998 NUM emaj-17 85 8 ) ) PUNCT emaj-17 85 9 suggest suggest VERB emaj-17 85 10 that that SCONJ emaj-17 85 11 corporate corporate ADJ emaj-17 85 12 transparency transparency NOUN emaj-17 85 13 has have VERB emaj-17 85 14 both both PRON emaj-17 85 15 strategic strategic ADJ emaj-17 85 16 advantages advantage NOUN emaj-17 85 17 and and CCONJ emaj-17 85 18 disadvantages disadvantage NOUN emaj-17 85 19 ; ; PUNCT emaj-17 85 20 in in ADP emaj-17 85 21 general general ADJ emaj-17 85 22 the the DET emaj-17 85 23 outcome outcome NOUN emaj-17 85 24 of of ADP emaj-17 85 25 having have VERB emaj-17 85 26 transparency transparency NOUN emaj-17 85 27 is be AUX emaj-17 85 28 usually usually ADV emaj-17 85 29 positive positive ADJ emaj-17 85 30 . . PUNCT emaj-17 86 1 perotti perotti PROPN emaj-17 86 2 and and CCONJ emaj-17 86 3 von von PROPN emaj-17 86 4 thadden thadden PROPN emaj-17 86 5 look look VERB emaj-17 86 6 at at ADP emaj-17 86 7 transparency transparency NOUN emaj-17 86 8 from from ADP emaj-17 86 9 a a DET emaj-17 86 10 competitive competitive ADJ emaj-17 86 11 position position NOUN emaj-17 86 12 affecting affect VERB emaj-17 86 13 market market NOUN emaj-17 86 14 liquidity liquidity NOUN emaj-17 86 15 and and CCONJ emaj-17 86 16 cost cost NOUN emaj-17 86 17 information information NOUN emaj-17 86 18 ; ; PUNCT emaj-17 86 19 however however ADV emaj-17 86 20 , , PUNCT emaj-17 86 21 when when SCONJ emaj-17 86 22 shareholder shareholder NOUN emaj-17 86 23 rights right NOUN emaj-17 86 24 are be AUX emaj-17 86 25 considered consider VERB emaj-17 86 26 , , PUNCT emaj-17 86 27 more more ADJ emaj-17 86 28 transparency transparency NOUN emaj-17 86 29 supports support VERB emaj-17 86 30 incontestable incontestable ADJ emaj-17 86 31 outcomes outcome NOUN emaj-17 86 32 . . PUNCT emaj-17 87 1 la la PROPN emaj-17 87 2 porta porta PROPN emaj-17 87 3 , , PUNCT emaj-17 87 4 silanes silane NOUN emaj-17 87 5 , , PUNCT emaj-17 87 6 shleifer shleifer NOUN emaj-17 87 7 , , PUNCT emaj-17 87 8 and and CCONJ emaj-17 87 9 vishny vishny PROPN emaj-17 87 10 ( ( PUNCT emaj-17 87 11 1998 1998 NUM emaj-17 87 12 ) ) PUNCT emaj-17 87 13 in in ADP emaj-17 87 14 " " PUNCT emaj-17 87 15 agency agency NOUN emaj-17 87 16 problems problem NOUN emaj-17 87 17 and and CCONJ emaj-17 87 18 dividend dividend NOUN emaj-17 87 19 policies policy NOUN emaj-17 87 20 around around ADP emaj-17 87 21 the the DET emaj-17 87 22 world world NOUN emaj-17 87 23 , , PUNCT emaj-17 87 24 " " PUNCT emaj-17 87 25 suggest suggest VERB emaj-17 87 26 that that SCONJ emaj-17 87 27 shareholder shareholder NOUN emaj-17 87 28 protection protection NOUN emaj-17 87 29 and and CCONJ emaj-17 87 30 minority minority NOUN emaj-17 87 31 shareholders shareholder NOUN emaj-17 87 32 rights right NOUN emaj-17 87 33 are be AUX emaj-17 87 34 not not PART emaj-17 87 35 considered consider VERB emaj-17 87 36 when when SCONJ emaj-17 87 37 there there PRON emaj-17 87 38 is be VERB emaj-17 87 39 less less ADJ emaj-17 87 40 or or CCONJ emaj-17 87 41 no no PRON emaj-17 87 42 transparency transparency NOUN emaj-17 87 43 and and CCONJ emaj-17 87 44 that that SCONJ emaj-17 87 45 the the DET emaj-17 87 46 issue issue NOUN emaj-17 87 47 becomes become VERB emaj-17 87 48 the the DET emaj-17 87 49 ' ' PUNCT emaj-17 87 50 agency agency NOUN emaj-17 87 51 problem problem NOUN emaj-17 87 52 ' ' PUNCT emaj-17 87 53 between between ADP emaj-17 87 54 corporate corporate ADJ emaj-17 87 55 insiders insider NOUN emaj-17 87 56 and and CCONJ emaj-17 87 57 outside outside ADJ emaj-17 87 58 shareholders shareholder NOUN emaj-17 87 59 . . PUNCT emaj-17 88 1 the the DET emaj-17 88 2 interests interest NOUN emaj-17 88 3 of of ADP emaj-17 88 4 those those PRON emaj-17 88 5 who who PRON emaj-17 88 6 control control VERB emaj-17 88 7 the the DET emaj-17 88 8 firm firm NOUN emaj-17 88 9 can can AUX emaj-17 88 10 differ differ VERB emaj-17 88 11 from from ADP emaj-17 88 12 the the DET emaj-17 88 13 interests interest NOUN emaj-17 88 14 of of ADP emaj-17 88 15 those those PRON emaj-17 88 16 who who PRON emaj-17 88 17 supply supply VERB emaj-17 88 18 the the DET emaj-17 88 19 firm firm NOUN emaj-17 88 20 with with ADP emaj-17 88 21 external external ADJ emaj-17 88 22 finances finance NOUN emaj-17 88 23 . . PUNCT emaj-17 89 1 this this DET emaj-17 89 2 problem problem NOUN emaj-17 89 3 is be AUX emaj-17 89 4 the the DET emaj-17 89 5 principal principal ADJ emaj-17 89 6 agent agent NOUN emaj-17 89 7 problem problem NOUN emaj-17 89 8 that that PRON emaj-17 89 9 derives derive VERB emaj-17 89 10 from from ADP emaj-17 89 11 the the DET emaj-17 89 12 separation separation NOUN emaj-17 89 13 of of ADP emaj-17 89 14 ownership ownership NOUN emaj-17 89 15 and and CCONJ emaj-17 89 16 control control NOUN emaj-17 89 17 and and CCONJ emaj-17 89 18 from from ADP emaj-17 89 19 corporate corporate ADJ emaj-17 89 20 outsiders outsider NOUN emaj-17 89 21 and and CCONJ emaj-17 89 22 insiders insider NOUN emaj-17 89 23 . . PUNCT emaj-17 90 1 although although SCONJ emaj-17 90 2 there there PRON emaj-17 90 3 is be VERB emaj-17 90 4 no no DET emaj-17 90 5 single single ADJ emaj-17 90 6 model model NOUN emaj-17 90 7 of of ADP emaj-17 90 8 corporate corporate ADJ emaj-17 90 9 governance governance NOUN emaj-17 90 10 , , PUNCT emaj-17 90 11 the the DET emaj-17 90 12 internal internal ADJ emaj-17 90 13 and and CCONJ emaj-17 90 14 external external ADJ emaj-17 90 15 factors factor NOUN emaj-17 90 16 that that PRON emaj-17 90 17 influence influence NOUN emaj-17 90 18 firms firm NOUN emaj-17 90 19 together together ADV emaj-17 90 20 influence influence VERB emaj-17 90 21 the the DET emaj-17 90 22 creation creation NOUN emaj-17 90 23 of of ADP emaj-17 90 24 corporate corporate ADJ emaj-17 90 25 governance governance NOUN emaj-17 90 26 systems system NOUN emaj-17 90 27 . . PUNCT emaj-17 91 1 usually usually ADV emaj-17 91 2 the the DET emaj-17 91 3 factors factor NOUN emaj-17 91 4 mirror mirror VERB emaj-17 91 5 specific specific ADJ emaj-17 91 6 market market NOUN emaj-17 91 7 structures structure NOUN emaj-17 91 8 , , PUNCT emaj-17 91 9 legal legal ADJ emaj-17 91 10 systems system NOUN emaj-17 91 11 , , PUNCT emaj-17 91 12 regulations regulation NOUN emaj-17 91 13 , , PUNCT emaj-17 91 14 and and CCONJ emaj-17 91 15 cultural cultural ADJ emaj-17 91 16 values value NOUN emaj-17 91 17 . . PUNCT emaj-17 92 1 these these DET emaj-17 92 2 factors factor NOUN emaj-17 92 3 affect affect VERB emaj-17 92 4 the the DET emaj-17 92 5 efficiency efficiency NOUN emaj-17 92 6 and and CCONJ emaj-17 92 7 profitability profitability NOUN emaj-17 92 8 of of ADP emaj-17 92 9 the the DET emaj-17 92 10 firms firm NOUN emaj-17 92 11 . . PUNCT emaj-17 93 1 over over ADP emaj-17 93 2 the the DET emaj-17 93 3 years year NOUN emaj-17 93 4 many many ADJ emaj-17 93 5 public public ADJ emaj-17 93 6 and and CCONJ emaj-17 93 7 private private ADJ emaj-17 93 8 entities entity NOUN emaj-17 93 9 attempted attempt VERB emaj-17 93 10 to to PART emaj-17 93 11 establish establish VERB emaj-17 93 12 standards standard NOUN emaj-17 93 13 and and CCONJ emaj-17 93 14 norms norm NOUN emaj-17 93 15 for for ADP emaj-17 93 16 bettering better VERB emaj-17 93 17 corporate corporate ADJ emaj-17 93 18 governance governance NOUN emaj-17 93 19 practices practice NOUN emaj-17 93 20 . . PUNCT emaj-17 94 1 business business NOUN emaj-17 94 2 practices practice NOUN emaj-17 94 3 and and CCONJ emaj-17 94 4 efficiency efficiency NOUN emaj-17 94 5 are be AUX emaj-17 94 6 greatly greatly ADV emaj-17 94 7 impacted impact VERB emaj-17 94 8 by by ADP emaj-17 94 9 government government NOUN emaj-17 94 10 policies policy NOUN emaj-17 94 11 towards towards ADP emaj-17 94 12 crime crime NOUN emaj-17 94 13 and and CCONJ emaj-17 94 14 corruption corruption NOUN emaj-17 94 15 . . PUNCT emaj-17 95 1 although although SCONJ emaj-17 95 2 crime crime NOUN emaj-17 95 3 and and CCONJ emaj-17 95 4 corruption corruption NOUN emaj-17 95 5 are be AUX emaj-17 95 6 present present ADJ emaj-17 95 7 in in ADP emaj-17 95 8 every every DET emaj-17 95 9 country country NOUN emaj-17 95 10 of of ADP emaj-17 95 11 the the DET emaj-17 95 12 world world NOUN emaj-17 95 13 , , PUNCT emaj-17 95 14 they they PRON emaj-17 95 15 are be AUX emaj-17 95 16 quite quite ADV emaj-17 95 17 prevalent prevalent ADJ emaj-17 95 18 in in ADP emaj-17 95 19 emerging emerge VERB emaj-17 95 20 markets market NOUN emaj-17 95 21 , , PUNCT emaj-17 95 22 henceforth henceforth ADV emaj-17 95 23 ems ems PROPN emaj-17 95 24 , , PUNCT emaj-17 95 25 and and CCONJ emaj-17 95 26 rdes rde NOUN emaj-17 95 27 . . PUNCT emaj-17 96 1 dealing deal VERB emaj-17 96 2 with with ADP emaj-17 96 3 corruption corruption NOUN emaj-17 96 4 can can AUX emaj-17 96 5 be be AUX emaj-17 96 6 costly costly ADJ emaj-17 96 7 . . PUNCT emaj-17 97 1 the the DET emaj-17 97 2 world world PROPN emaj-17 97 3 bank bank PROPN emaj-17 97 4 “ " PUNCT emaj-17 97 5 warns warn VERB emaj-17 97 6 that that SCONJ emaj-17 97 7 corruption corruption NOUN emaj-17 97 8 is be AUX emaj-17 97 9 the the DET emaj-17 97 10 greatest great ADJ emaj-17 97 11 obstacle obstacle NOUN emaj-17 97 12 for for ADP emaj-17 97 13 economic economic ADJ emaj-17 97 14 and and CCONJ emaj-17 97 15 social social ADJ emaj-17 97 16 development development NOUN emaj-17 97 17 in in ADP emaj-17 97 18 developing develop VERB emaj-17 97 19 countries country NOUN emaj-17 97 20 ” " PUNCT emaj-17 97 21 ( ( PUNCT emaj-17 97 22 pacek pacek NOUN emaj-17 97 23 , , PUNCT emaj-17 97 24 p. p. NOUN emaj-17 97 25 492 492 NUM emaj-17 97 26 ) ) PUNCT emaj-17 97 27 . . PUNCT emaj-17 98 1 “ " PUNCT emaj-17 98 2 agency agency NOUN emaj-17 98 3 problems problem NOUN emaj-17 98 4 arise arise VERB emaj-17 98 5 within within ADP emaj-17 98 6 a a DET emaj-17 98 7 firm firm NOUN emaj-17 98 8 whenever whenever SCONJ emaj-17 98 9 managers manager NOUN emaj-17 98 10 have have VERB emaj-17 98 11 incentives incentive NOUN emaj-17 98 12 to to PART emaj-17 98 13 pursue pursue VERB emaj-17 98 14 their their PRON emaj-17 98 15 own own ADJ emaj-17 98 16 interests interest NOUN emaj-17 98 17 at at ADP emaj-17 98 18 shareholder shareholder NOUN emaj-17 98 19 expense expense NOUN emaj-17 98 20 ” " PUNCT emaj-17 98 21 ( ( PUNCT emaj-17 98 22 agrawal agrawal NOUN emaj-17 98 23 and and CCONJ emaj-17 98 24 knoweber knoweber ADJ emaj-17 98 25 , , PUNCT emaj-17 98 26 1996 1996 NUM emaj-17 98 27 , , PUNCT emaj-17 98 28 p. p. NOUN emaj-17 98 29 377 377 NUM emaj-17 98 30 ) ) PUNCT emaj-17 98 31 . . PUNCT emaj-17 99 1 undoubtedly undoubtedly ADV emaj-17 99 2 , , PUNCT emaj-17 99 3 foreign foreign ADJ emaj-17 99 4 direct direct ADJ emaj-17 99 5 investment investment NOUN emaj-17 99 6 would would AUX emaj-17 99 7 be be AUX emaj-17 99 8 adversely adversely ADV emaj-17 99 9 affected affect VERB emaj-17 99 10 in in ADP emaj-17 99 11 areas area NOUN emaj-17 99 12 in in ADP emaj-17 99 13 which which PRON emaj-17 99 14 crime crime NOUN emaj-17 99 15 and and CCONJ emaj-17 99 16 corruption corruption NOUN emaj-17 99 17 were be AUX emaj-17 99 18 of of ADP emaj-17 99 19 great great ADJ emaj-17 99 20 concern concern NOUN emaj-17 99 21 . . PUNCT emaj-17 100 1 growth growth NOUN emaj-17 100 2 rates rate NOUN emaj-17 100 3 would would AUX emaj-17 100 4 also also ADV emaj-17 100 5 decrease decrease VERB emaj-17 100 6 as as ADP emaj-17 100 7 participation participation NOUN emaj-17 100 8 in in ADP emaj-17 100 9 world world NOUN emaj-17 100 10 trade trade NOUN emaj-17 100 11 and and CCONJ emaj-17 100 12 exports export NOUN emaj-17 100 13 decline decline NOUN emaj-17 100 14 . . PUNCT emaj-17 101 1 rdes rde NOUN emaj-17 101 2 share share VERB emaj-17 101 3 these these DET emaj-17 101 4 same same ADJ emaj-17 101 5 characteristics characteristic NOUN emaj-17 101 6 as as ADP emaj-17 101 7 emerging emerge VERB emaj-17 101 8 markets market NOUN emaj-17 101 9 ( ( PUNCT emaj-17 101 10 ems ems PROPN emaj-17 101 11 ) ) PUNCT emaj-17 101 12 , , PUNCT emaj-17 101 13 but but CCONJ emaj-17 101 14 to to ADP emaj-17 101 15 a a DET emaj-17 101 16 greater great ADJ emaj-17 101 17 degree degree NOUN emaj-17 101 18 . . PUNCT emaj-17 102 1 ems ems PROPN emaj-17 102 2 share share VERB emaj-17 102 3 the the DET emaj-17 102 4 following follow VERB emaj-17 102 5 characteristics characteristic NOUN emaj-17 102 6 with with ADP emaj-17 102 7 rdes rde NOUN emaj-17 102 8 : : PUNCT emaj-17 102 9 rapid rapid ADJ emaj-17 102 10 industrialization industrialization NOUN emaj-17 102 11 , , PUNCT emaj-17 102 12 modernization modernization NOUN emaj-17 102 13 , , PUNCT emaj-17 102 14 privatization privatization NOUN emaj-17 102 15 of of ADP emaj-17 102 16 state state NOUN emaj-17 102 17 enterprises enterprise NOUN emaj-17 102 18 , , PUNCT emaj-17 102 19 robust robust ADJ emaj-17 102 20 private private ADJ emaj-17 102 21 sector sector NOUN emaj-17 102 22 activity activity NOUN emaj-17 102 23 and and CCONJ emaj-17 102 24 entrepreneurship entrepreneurship NOUN emaj-17 102 25 , , PUNCT emaj-17 102 26 liberalization liberalization NOUN emaj-17 102 27 of of ADP emaj-17 102 28 trade trade NOUN emaj-17 102 29 and and CCONJ emaj-17 102 30 investment investment NOUN emaj-17 102 31 , , PUNCT emaj-17 102 32 rapidly rapidly ADV emaj-17 102 33 improving improve VERB emaj-17 102 34 living living NOUN emaj-17 102 35 standards standard NOUN emaj-17 102 36 , , PUNCT emaj-17 102 37 young young ADJ emaj-17 102 38 population population NOUN emaj-17 102 39 , , PUNCT emaj-17 102 40 and and CCONJ emaj-17 102 41 growing grow VERB emaj-17 102 42 middle middle ADJ emaj-17 102 43 class class NOUN emaj-17 102 44 with with ADP emaj-17 102 45 rising rise VERB emaj-17 102 46 economic economic ADJ emaj-17 102 47 aspirations aspiration NOUN emaj-17 102 48 ” " PUNCT emaj-17 102 49 ( ( PUNCT emaj-17 102 50 cavusgil cavusgil NOUN emaj-17 102 51 , , PUNCT emaj-17 102 52 2007 2007 NUM emaj-17 102 53 , , PUNCT emaj-17 102 54 p. p. NOUN emaj-17 102 55 15 15 NUM emaj-17 102 56 ) ) PUNCT emaj-17 102 57 . . PUNCT emaj-17 103 1 according accord VERB emaj-17 103 2 to to ADP emaj-17 103 3 the the DET emaj-17 103 4 economist economist NOUN emaj-17 103 5 article article NOUN emaj-17 103 6 , , PUNCT emaj-17 103 7 “ " PUNCT emaj-17 103 8 the the DET emaj-17 103 9 new new ADJ emaj-17 103 10 titans titan NOUN emaj-17 103 11 ” " PUNCT emaj-17 103 12 , , PUNCT emaj-17 103 13 such such ADJ emaj-17 103 14 countries country NOUN emaj-17 103 15 have have VERB emaj-17 103 16 a a DET emaj-17 103 17 significant significant ADJ emaj-17 103 18 role role NOUN emaj-17 103 19 on on ADP emaj-17 103 20 the the DET emaj-17 103 21 global global ADJ emaj-17 103 22 economy economy NOUN emaj-17 103 23 . . PUNCT emaj-17 104 1 these these DET emaj-17 104 2 countries country NOUN emaj-17 104 3 make make VERB emaj-17 104 4 up up ADP emaj-17 104 5 more more ADJ emaj-17 104 6 than than ADP emaj-17 104 7 half half NOUN emaj-17 104 8 of of ADP emaj-17 104 9 the the DET emaj-17 104 10 world world NOUN emaj-17 104 11 ’s ’s PART emaj-17 104 12 population population NOUN emaj-17 104 13 , , PUNCT emaj-17 104 14 roughly roughly ADV emaj-17 104 15 43 43 NUM emaj-17 104 16 % % NOUN emaj-17 104 17 of of ADP emaj-17 104 18 gdp gdp NOUN emaj-17 104 19 on on ADP emaj-17 104 20 a a DET emaj-17 104 21 purchasing purchase VERB emaj-17 104 22 power power NOUN emaj-17 104 23 parity parity NOUN emaj-17 104 24 basis basis NOUN emaj-17 104 25 , , PUNCT emaj-17 104 26 and and CCONJ emaj-17 104 27 greater great ADJ emaj-17 104 28 than than ADP emaj-17 104 29 a a DET emaj-17 104 30 third third NOUN emaj-17 104 31 of of ADP emaj-17 104 32 the the DET emaj-17 104 33 world world NOUN emaj-17 104 34 ’s ’s PART emaj-17 104 35 energy energy NOUN emaj-17 104 36 the the DET emaj-17 104 37 influence influence NOUN emaj-17 104 38 of of ADP emaj-17 104 39 corruption corruption NOUN emaj-17 104 40 on on ADP emaj-17 104 41 corporate corporate ADJ emaj-17 104 42 governance governance NOUN emaj-17 104 43 standards standard NOUN emaj-17 104 44 : : PUNCT emaj-17 104 45 shared share VERB emaj-17 104 46 characteristics characteristic NOUN emaj-17 104 47 of of ADP emaj-17 104 48 rapidly rapidly ADV emaj-17 104 49 developing develop VERB emaj-17 104 50 economies economy NOUN emaj-17 104 51 emerging emerge VERB emaj-17 104 52 markets market NOUN emaj-17 104 53 journal journal NOUN emaj-17 104 54 | | ADV emaj-17 104 55 p p NOUN emaj-17 104 56 a a DET emaj-17 104 57 g g NOUN emaj-17 104 58 e e NOUN emaj-17 104 59 | | NOUN emaj-17 104 60 25 25 NUM emaj-17 104 61 volume volume NOUN emaj-17 104 62 2 2 NUM emaj-17 104 63 ( ( PUNCT emaj-17 104 64 2012 2012 NUM emaj-17 104 65 ) ) PUNCT emaj-17 104 66 | | ADV emaj-17 104 67 issn issn VERB emaj-17 104 68 2158 2158 NUM emaj-17 104 69 - - SYM emaj-17 104 70 8708 8708 NUM emaj-17 104 71 ( ( PUNCT emaj-17 104 72 online online NOUN emaj-17 104 73 ) ) PUNCT emaj-17 104 74 | | ADV emaj-17 104 75 doi doi X emaj-17 104 76 10.5195 10.5195 NUM emaj-17 104 77 / / SYM emaj-17 104 78 emaj.2012.17 emaj.2012.17 NOUN emaj-17 104 79 | | NOUN emaj-17 104 80 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 104 81 consumption consumption NOUN emaj-17 104 82 and and CCONJ emaj-17 104 83 exports export NOUN emaj-17 104 84 ( ( PUNCT emaj-17 104 85 and and CCONJ emaj-17 104 86 growing grow VERB emaj-17 104 87 ) ) PUNCT emaj-17 104 88 to to PART emaj-17 104 89 name name VERB emaj-17 104 90 some some DET emaj-17 104 91 major major ADJ emaj-17 104 92 components component NOUN emaj-17 104 93 ( ( PUNCT emaj-17 104 94 economist economist NOUN emaj-17 104 95 , , PUNCT emaj-17 104 96 2006 2006 NUM emaj-17 104 97 ) ) PUNCT emaj-17 104 98 . . PUNCT emaj-17 105 1 more more ADJ emaj-17 105 2 countries country NOUN emaj-17 105 3 are be AUX emaj-17 105 4 paying pay VERB emaj-17 105 5 closer close ADJ emaj-17 105 6 attention attention NOUN emaj-17 105 7 to to ADP emaj-17 105 8 corporate corporate ADJ emaj-17 105 9 governance governance NOUN emaj-17 105 10 policies policy NOUN emaj-17 105 11 as as ADP emaj-17 105 12 a a DET emaj-17 105 13 result result NOUN emaj-17 105 14 of of ADP emaj-17 105 15 financial financial ADJ emaj-17 105 16 crises crisis NOUN emaj-17 105 17 impacting impact VERB emaj-17 105 18 countries country NOUN emaj-17 105 19 to to ADP emaj-17 105 20 varying vary VERB emaj-17 105 21 degrees degree NOUN emaj-17 105 22 on on ADP emaj-17 105 23 a a DET emaj-17 105 24 global global ADJ emaj-17 105 25 scale scale NOUN emaj-17 105 26 . . PUNCT emaj-17 106 1 not not PART emaj-17 106 2 having have VERB emaj-17 106 3 efficient efficient ADJ emaj-17 106 4 corporate corporate ADJ emaj-17 106 5 governance governance NOUN emaj-17 106 6 can can AUX emaj-17 106 7 decrease decrease VERB emaj-17 106 8 efficiency efficiency NOUN emaj-17 106 9 of of ADP emaj-17 106 10 operations operation NOUN emaj-17 106 11 , , PUNCT emaj-17 106 12 increase increase VERB emaj-17 106 13 the the DET emaj-17 106 14 cost cost NOUN emaj-17 106 15 of of ADP emaj-17 106 16 a a DET emaj-17 106 17 company company NOUN emaj-17 106 18 ’s ’s PART emaj-17 106 19 funds fund NOUN emaj-17 106 20 , , PUNCT emaj-17 106 21 and and CCONJ emaj-17 106 22 open open VERB emaj-17 106 23 the the DET emaj-17 106 24 door door NOUN emaj-17 106 25 to to ADP emaj-17 106 26 more more ADJ emaj-17 106 27 corruption corruption NOUN emaj-17 106 28 . . PUNCT emaj-17 107 1 “ " PUNCT emaj-17 107 2 nonetheless nonetheless ADV emaj-17 107 3 , , PUNCT emaj-17 107 4 the the DET emaj-17 107 5 impact impact NOUN emaj-17 107 6 of of ADP emaj-17 107 7 corruption corruption NOUN emaj-17 107 8 on on ADP emaj-17 107 9 business business NOUN emaj-17 107 10 in in ADP emaj-17 107 11 particular particular ADJ emaj-17 107 12 and and CCONJ emaj-17 107 13 society society NOUN emaj-17 107 14 in in ADP emaj-17 107 15 general general ADJ emaj-17 107 16 is be AUX emaj-17 107 17 such such ADJ emaj-17 107 18 that that SCONJ emaj-17 107 19 it it PRON emaj-17 107 20 diverts divert VERB emaj-17 107 21 resources resource NOUN emaj-17 107 22 from from ADP emaj-17 107 23 productive productive ADJ emaj-17 107 24 to to ADP emaj-17 107 25 nonproductive nonproductive ADJ emaj-17 107 26 sectors sector NOUN emaj-17 107 27 , , PUNCT emaj-17 107 28 and and CCONJ emaj-17 107 29 makes make VERB emaj-17 107 30 a a DET emaj-17 107 31 few few ADJ emaj-17 107 32 rich rich ADJ emaj-17 107 33 at at ADP emaj-17 107 34 the the DET emaj-17 107 35 expense expense NOUN emaj-17 107 36 of of ADP emaj-17 107 37 others other NOUN emaj-17 107 38 … … PUNCT emaj-17 107 39 apart apart ADV emaj-17 107 40 from from ADP emaj-17 107 41 increasing increase VERB emaj-17 107 42 risk risk NOUN emaj-17 107 43 and and CCONJ emaj-17 107 44 the the DET emaj-17 107 45 cost cost NOUN emaj-17 107 46 of of ADP emaj-17 107 47 doing do VERB emaj-17 107 48 business business NOUN emaj-17 107 49 , , PUNCT emaj-17 107 50 corruption corruption NOUN emaj-17 107 51 damages damage VERB emaj-17 107 52 investor investor NOUN emaj-17 107 53 confidence confidence NOUN emaj-17 107 54 , , PUNCT emaj-17 107 55 stifles stifle VERB emaj-17 107 56 economic economic ADJ emaj-17 107 57 growth growth NOUN emaj-17 107 58 , , PUNCT emaj-17 107 59 and and CCONJ emaj-17 107 60 deters deter VERB emaj-17 107 61 foreign foreign ADJ emaj-17 107 62 direct direct ADJ emaj-17 107 63 investment investment NOUN emaj-17 107 64 . . PUNCT emaj-17 108 1 although although SCONJ emaj-17 108 2 the the DET emaj-17 108 3 incidence incidence NOUN emaj-17 108 4 of of ADP emaj-17 108 5 corruption corruption NOUN emaj-17 108 6 varies vary VERB emaj-17 108 7 among among ADP emaj-17 108 8 countries country NOUN emaj-17 108 9 , , PUNCT emaj-17 108 10 most most ADJ emaj-17 108 11 studies study NOUN emaj-17 108 12 have have AUX emaj-17 108 13 ascertained ascertain VERB emaj-17 108 14 that that SCONJ emaj-17 108 15 corruption corruption NOUN emaj-17 108 16 is be AUX emaj-17 108 17 detrimental detrimental ADJ emaj-17 108 18 to to ADP emaj-17 108 19 society society NOUN emaj-17 108 20 and and CCONJ emaj-17 108 21 business business NOUN emaj-17 108 22 ” " PUNCT emaj-17 108 23 ( ( PUNCT emaj-17 108 24 frisch frisch PROPN emaj-17 108 25 , , PUNCT emaj-17 108 26 1996 1996 NUM emaj-17 108 27 , , PUNCT emaj-17 108 28 p. p. NOUN emaj-17 108 29 68 68 NUM emaj-17 108 30 ) ) PUNCT emaj-17 108 31 . . PUNCT emaj-17 109 1 for for ADP emaj-17 109 2 example example NOUN emaj-17 109 3 , , PUNCT emaj-17 109 4 mauro mauro PROPN emaj-17 109 5 ( ( PUNCT emaj-17 109 6 1995 1995 NUM emaj-17 109 7 ) ) PUNCT emaj-17 109 8 , , PUNCT emaj-17 109 9 kaufmann kaufmann PROPN emaj-17 109 10 ( ( PUNCT emaj-17 109 11 1997 1997 NUM emaj-17 109 12 ) ) PUNCT emaj-17 109 13 , , PUNCT emaj-17 109 14 tanzi tanzi X emaj-17 109 15 ( ( PUNCT emaj-17 109 16 1998 1998 NUM emaj-17 109 17 ) ) PUNCT emaj-17 109 18 , , PUNCT emaj-17 109 19 and and CCONJ emaj-17 109 20 wei wei PROPN emaj-17 109 21 , , PUNCT emaj-17 109 22 ( ( PUNCT emaj-17 109 23 1997 1997 NUM emaj-17 109 24 ) ) PUNCT emaj-17 109 25 have have AUX emaj-17 109 26 demonstrated demonstrate VERB emaj-17 109 27 that that SCONJ emaj-17 109 28 corruption corruption NOUN emaj-17 109 29 does do AUX emaj-17 109 30 have have VERB emaj-17 109 31 a a DET emaj-17 109 32 negative negative ADJ emaj-17 109 33 effect effect NOUN emaj-17 109 34 on on ADP emaj-17 109 35 economic economic ADJ emaj-17 109 36 growth growth NOUN emaj-17 109 37 , , PUNCT emaj-17 109 38 business business NOUN emaj-17 109 39 development development NOUN emaj-17 109 40 , , PUNCT emaj-17 109 41 public public ADJ emaj-17 109 42 expenditures expenditure NOUN emaj-17 109 43 , , PUNCT emaj-17 109 44 and and CCONJ emaj-17 109 45 domestic domestic ADJ emaj-17 109 46 and and CCONJ emaj-17 109 47 foreign foreign ADJ emaj-17 109 48 investment investment NOUN emaj-17 109 49 ( ( PUNCT emaj-17 109 50 zarb zarb NOUN emaj-17 109 51 , , PUNCT emaj-17 109 52 2007 2007 NUM emaj-17 109 53 ) ) PUNCT emaj-17 109 54 . . PUNCT emaj-17 110 1 “ " PUNCT emaj-17 110 2 firms firm NOUN emaj-17 110 3 under under ADP emaj-17 110 4 the the DET emaj-17 110 5 influence influence NOUN emaj-17 110 6 of of ADP emaj-17 110 7 low low ADJ emaj-17 110 8 quality quality NOUN emaj-17 110 9 government government NOUN emaj-17 110 10 tend tend VERB emaj-17 110 11 to to PART emaj-17 110 12 have have VERB emaj-17 110 13 complex complex ADJ emaj-17 110 14 organizational organizational ADJ emaj-17 110 15 structures structure NOUN emaj-17 110 16 , , PUNCT emaj-17 110 17 poor poor ADJ emaj-17 110 18 transparency transparency NOUN emaj-17 110 19 and and CCONJ emaj-17 110 20 weak weak ADJ emaj-17 110 21 corporate corporate ADJ emaj-17 110 22 governance governance NOUN emaj-17 110 23 ” " PUNCT emaj-17 110 24 ( ( PUNCT emaj-17 110 25 fan fan PROPN emaj-17 110 26 , , PUNCT emaj-17 110 27 joseph joseph PROPN emaj-17 110 28 et et PROPN emaj-17 110 29 . . PUNCT emaj-17 111 1 al al PROPN emaj-17 111 2 . . PROPN emaj-17 111 3 2010 2010 NUM emaj-17 111 4 , , PUNCT emaj-17 111 5 leuz leuz NOUN emaj-17 111 6 and and CCONJ emaj-17 111 7 oberholzer oberholzer NOUN emaj-17 111 8 - - PUNCT emaj-17 111 9 gee gee NOUN emaj-17 111 10 , , PUNCT emaj-17 111 11 2006 2006 NUM emaj-17 111 12 ; ; PUNCT emaj-17 111 13 fan fan PROPN emaj-17 111 14 , , PUNCT emaj-17 111 15 wong wong PROPN emaj-17 111 16 , , PUNCT emaj-17 111 17 and and CCONJ emaj-17 111 18 zhang zhang PROPN emaj-17 111 19 , , PUNCT emaj-17 111 20 2009 2009 NUM emaj-17 111 21 ; ; PUNCT emaj-17 111 22 jiang jiang PROPN emaj-17 111 23 , , PUNCT emaj-17 111 24 lee lee PROPN emaj-17 111 25 , , PUNCT emaj-17 111 26 and and CCONJ emaj-17 111 27 yue yue PROPN emaj-17 111 28 , , PUNCT emaj-17 111 29 2010 2010 NUM emaj-17 111 30 , , PUNCT emaj-17 111 31 p. p. NOUN emaj-17 111 32 209 209 NUM emaj-17 111 33 ) ) PUNCT emaj-17 111 34 . . PUNCT emaj-17 112 1 further further ADJ emaj-17 112 2 studies study NOUN emaj-17 112 3 ( ( PUNCT emaj-17 112 4 klapper klapper NOUN emaj-17 112 5 and and CCONJ emaj-17 112 6 love love NOUN emaj-17 112 7 , , PUNCT emaj-17 112 8 2002 2002 NUM emaj-17 112 9 ) ) PUNCT emaj-17 112 10 find find VERB emaj-17 112 11 a a DET emaj-17 112 12 positive positive ADJ emaj-17 112 13 correlation correlation NOUN emaj-17 112 14 between between ADP emaj-17 112 15 corporate corporate ADJ emaj-17 112 16 governance governance NOUN emaj-17 112 17 structures structure NOUN emaj-17 112 18 and and CCONJ emaj-17 112 19 country country NOUN emaj-17 112 20 level level NOUN emaj-17 112 21 measures measure NOUN emaj-17 112 22 of of ADP emaj-17 112 23 investor investor NOUN emaj-17 112 24 protection protection NOUN emaj-17 112 25 . . PUNCT emaj-17 113 1 in in ADP emaj-17 113 2 addition addition NOUN emaj-17 113 3 , , PUNCT emaj-17 113 4 they they PRON emaj-17 113 5 suggest suggest VERB emaj-17 113 6 that that SCONJ emaj-17 113 7 it it PRON emaj-17 113 8 is be AUX emaj-17 113 9 crucial crucial ADJ emaj-17 113 10 for for ADP emaj-17 113 11 firms firm NOUN emaj-17 113 12 located locate VERB emaj-17 113 13 in in ADP emaj-17 113 14 countries country NOUN emaj-17 113 15 with with ADP emaj-17 113 16 weak weak ADJ emaj-17 113 17 legal legal ADJ emaj-17 113 18 systems system NOUN emaj-17 113 19 to to PART emaj-17 113 20 adopt adopt VERB emaj-17 113 21 improved improve VERB emaj-17 113 22 corporate corporate ADJ emaj-17 113 23 governance governance NOUN emaj-17 113 24 practices practice NOUN emaj-17 113 25 . . PUNCT emaj-17 114 1 since since SCONJ emaj-17 114 2 firms firm NOUN emaj-17 114 3 located locate VERB emaj-17 114 4 in in ADP emaj-17 114 5 developing develop VERB emaj-17 114 6 countries country NOUN emaj-17 114 7 may may AUX emaj-17 114 8 have have VERB emaj-17 114 9 weaker weak ADJ emaj-17 114 10 rules rule NOUN emaj-17 114 11 , , PUNCT emaj-17 114 12 black black ADJ emaj-17 114 13 ( ( PUNCT emaj-17 114 14 2001 2001 NUM emaj-17 114 15 ) ) PUNCT emaj-17 114 16 suggests suggest VERB emaj-17 114 17 that that SCONJ emaj-17 114 18 the the DET emaj-17 114 19 corporate corporate ADJ emaj-17 114 20 governance governance NOUN emaj-17 114 21 structures structure NOUN emaj-17 114 22 may may AUX emaj-17 114 23 have have VERB emaj-17 114 24 larger large ADJ emaj-17 114 25 effects effect NOUN emaj-17 114 26 . . PUNCT emaj-17 115 1 corporate corporate ADJ emaj-17 115 2 governance governance NOUN emaj-17 115 3 is be AUX emaj-17 115 4 related relate VERB emaj-17 115 5 to to ADP emaj-17 115 6 firms firm NOUN emaj-17 115 7 and and CCONJ emaj-17 115 8 firms firm NOUN emaj-17 115 9 from from ADP emaj-17 115 10 these these DET emaj-17 115 11 ems ems PROPN emaj-17 115 12 and and CCONJ emaj-17 115 13 rdes rde NOUN emaj-17 115 14 set set VERB emaj-17 115 15 standards standard NOUN emaj-17 115 16 in in ADP emaj-17 115 17 the the DET emaj-17 115 18 economies economy NOUN emaj-17 115 19 of of ADP emaj-17 115 20 these these DET emaj-17 115 21 nations nation NOUN emaj-17 115 22 . . PUNCT emaj-17 116 1 corporate corporate ADJ emaj-17 116 2 governance governance NOUN emaj-17 116 3 mechanisms mechanism NOUN emaj-17 116 4 as as ADV emaj-17 116 5 well well ADV emaj-17 116 6 as as ADP emaj-17 116 7 ownership ownership NOUN emaj-17 116 8 structure structure NOUN emaj-17 116 9 , , PUNCT emaj-17 116 10 dividend dividend NOUN emaj-17 116 11 payout payout NOUN emaj-17 116 12 , , PUNCT emaj-17 116 13 cost cost NOUN emaj-17 116 14 of of ADP emaj-17 116 15 external external ADJ emaj-17 116 16 finance finance NOUN emaj-17 116 17 , , PUNCT emaj-17 116 18 and and CCONJ emaj-17 116 19 market market NOUN emaj-17 116 20 valuations valuation NOUN emaj-17 116 21 have have AUX emaj-17 116 22 been be AUX emaj-17 116 23 significantly significantly ADV emaj-17 116 24 impacted impact VERB emaj-17 116 25 due due ADP emaj-17 116 26 to to ADP emaj-17 116 27 variations variation NOUN emaj-17 116 28 in in ADP emaj-17 116 29 home home NOUN emaj-17 116 30 country country NOUN emaj-17 116 31 legal legal ADJ emaj-17 116 32 structure structure NOUN emaj-17 116 33 and and CCONJ emaj-17 116 34 the the DET emaj-17 116 35 laws law NOUN emaj-17 116 36 designed design VERB emaj-17 116 37 to to PART emaj-17 116 38 protect protect VERB emaj-17 116 39 investors investor NOUN emaj-17 116 40 , , PUNCT emaj-17 116 41 according accord VERB emaj-17 116 42 to to ADP emaj-17 116 43 a a DET emaj-17 116 44 growing grow VERB emaj-17 116 45 body body NOUN emaj-17 116 46 of of ADP emaj-17 116 47 literature literature NOUN emaj-17 116 48 valuations valuation NOUN emaj-17 117 1 [ [ X emaj-17 117 2 ( ( PUNCT emaj-17 117 3 la la INTJ emaj-17 117 4 porta porta NOUN emaj-17 117 5 , , PUNCT emaj-17 117 6 lopez lopez NOUN emaj-17 117 7 - - PUNCT emaj-17 117 8 de de NOUN emaj-17 117 9 - - NOUN emaj-17 117 10 silanes silane NOUN emaj-17 117 11 , , PUNCT emaj-17 117 12 and and CCONJ emaj-17 117 13 vishny vishny PROPN emaj-17 117 14 ( ( PUNCT emaj-17 117 15 1999 1999 NUM emaj-17 117 16 ) ) PUNCT emaj-17 117 17 ; ; PUNCT emaj-17 117 18 klapper klapper NOUN emaj-17 117 19 and and CCONJ emaj-17 117 20 love love NOUN emaj-17 117 21 , , PUNCT emaj-17 117 22 ( ( PUNCT emaj-17 117 23 2002 2002 NUM emaj-17 117 24 ) ) PUNCT emaj-17 117 25 ] ] PUNCT emaj-17 117 26 . . PUNCT emaj-17 118 1 in in ADP emaj-17 118 2 some some DET emaj-17 118 3 countries country NOUN emaj-17 118 4 , , PUNCT emaj-17 118 5 firms firm NOUN emaj-17 118 6 may may AUX emaj-17 118 7 decline decline VERB emaj-17 118 8 specific specific ADJ emaj-17 118 9 provisions provision NOUN emaj-17 118 10 causing cause VERB emaj-17 118 11 investor investor NOUN emaj-17 118 12 protection protection NOUN emaj-17 118 13 laws law NOUN emaj-17 118 14 to to PART emaj-17 118 15 be be AUX emaj-17 118 16 nonbinding nonbinde VERB emaj-17 118 17 . . PUNCT emaj-17 119 1 american american ADJ emaj-17 119 2 depository depository NOUN emaj-17 119 3 receipts receipt NOUN emaj-17 119 4 ( ( PUNCT emaj-17 119 5 adr adr PROPN emaj-17 119 6 ) ) PUNCT emaj-17 119 7 issuing issue VERB emaj-17 119 8 firms firm NOUN emaj-17 119 9 may may AUX emaj-17 119 10 improve improve VERB emaj-17 119 11 the the DET emaj-17 119 12 rights right NOUN emaj-17 119 13 of of ADP emaj-17 119 14 investors investor NOUN emaj-17 119 15 through through ADP emaj-17 119 16 implementing implement VERB emaj-17 119 17 additional additional ADJ emaj-17 119 18 provisions provision NOUN emaj-17 119 19 to to PART emaj-17 119 20 facilitate facilitate VERB emaj-17 119 21 increased increase VERB emaj-17 119 22 disclosure disclosure NOUN emaj-17 119 23 , , PUNCT emaj-17 119 24 to to PART emaj-17 119 25 institute institute VERB emaj-17 119 26 more more ADV emaj-17 119 27 efficient efficient ADJ emaj-17 119 28 and and CCONJ emaj-17 119 29 effective effective ADJ emaj-17 119 30 boards board NOUN emaj-17 119 31 , , PUNCT emaj-17 119 32 and and CCONJ emaj-17 119 33 to to PART emaj-17 119 34 enact enact VERB emaj-17 119 35 disciplinary disciplinary ADJ emaj-17 119 36 action action NOUN emaj-17 119 37 to to PART emaj-17 119 38 ensure ensure VERB emaj-17 119 39 the the DET emaj-17 119 40 rights right NOUN emaj-17 119 41 of of ADP emaj-17 119 42 minority minority NOUN emaj-17 119 43 shareholders shareholder NOUN emaj-17 119 44 . . PUNCT emaj-17 120 1 this this DET emaj-17 120 2 type type NOUN emaj-17 120 3 of of ADP emaj-17 120 4 protection protection NOUN emaj-17 120 5 and/or and/or CCONJ emaj-17 120 6 the the DET emaj-17 120 7 responsibility responsibility NOUN emaj-17 120 8 towards towards ADP emaj-17 120 9 the the DET emaj-17 120 10 minority minority NOUN emaj-17 120 11 shareholders shareholder NOUN emaj-17 120 12 can can AUX emaj-17 120 13 be be AUX emaj-17 120 14 observed observe VERB emaj-17 120 15 in in ADP emaj-17 120 16 the the DET emaj-17 120 17 anglo anglo ADJ emaj-17 120 18 - - PUNCT emaj-17 120 19 american american ADJ emaj-17 120 20 system system NOUN emaj-17 120 21 of of ADP emaj-17 120 22 corporate corporate ADJ emaj-17 120 23 governance governance NOUN emaj-17 120 24 , , PUNCT emaj-17 120 25 which which PRON emaj-17 120 26 is be AUX emaj-17 120 27 usually usually ADV emaj-17 120 28 referred refer VERB emaj-17 120 29 to to ADP emaj-17 120 30 as as ADP emaj-17 120 31 “ " PUNCT emaj-17 120 32 outsider outsider NOUN emaj-17 120 33 system system NOUN emaj-17 120 34 ” " PUNCT emaj-17 120 35 where where SCONJ emaj-17 120 36 there there PRON emaj-17 120 37 is be VERB emaj-17 120 38 dispersed disperse VERB emaj-17 120 39 ownership ownership NOUN emaj-17 120 40 and and CCONJ emaj-17 120 41 dispersed disperse VERB emaj-17 120 42 equity equity NOUN emaj-17 120 43 markets market NOUN emaj-17 120 44 . . PUNCT emaj-17 121 1 although although SCONJ emaj-17 121 2 the the DET emaj-17 121 3 “ " PUNCT emaj-17 121 4 outsider outsider NOUN emaj-17 121 5 system system NOUN emaj-17 121 6 ” " PUNCT emaj-17 121 7 encourages encourage VERB emaj-17 121 8 institutional institutional ADJ emaj-17 121 9 investors investor NOUN emaj-17 121 10 to to PART emaj-17 121 11 take take VERB emaj-17 121 12 part part NOUN emaj-17 121 13 in in ADP emaj-17 121 14 the the DET emaj-17 121 15 process process NOUN emaj-17 121 16 , , PUNCT emaj-17 121 17 in in ADP emaj-17 121 18 this this DET emaj-17 121 19 system system NOUN emaj-17 121 20 the the DET emaj-17 121 21 regulations regulation NOUN emaj-17 121 22 are be AUX emaj-17 121 23 based base VERB emaj-17 121 24 on on ADP emaj-17 121 25 separation separation NOUN emaj-17 121 26 of of ADP emaj-17 121 27 ownership ownership NOUN emaj-17 121 28 and and CCONJ emaj-17 121 29 control control NOUN emaj-17 121 30 , , PUNCT emaj-17 121 31 the the DET emaj-17 121 32 equity equity NOUN emaj-17 121 33 markets market NOUN emaj-17 121 34 , , PUNCT emaj-17 121 35 and and CCONJ emaj-17 121 36 information information NOUN emaj-17 121 37 disclosure disclosure NOUN emaj-17 121 38 to to ADP emaj-17 121 39 public public NOUN emaj-17 121 40 ( ( PUNCT emaj-17 121 41 clarke clarke PROPN emaj-17 121 42 , , PUNCT emaj-17 121 43 2007 2007 NUM emaj-17 121 44 ) ) PUNCT emaj-17 121 45 . . PUNCT emaj-17 122 1 on on ADP emaj-17 122 2 the the DET emaj-17 122 3 other other ADJ emaj-17 122 4 hand hand NOUN emaj-17 122 5 , , PUNCT emaj-17 122 6 in in ADP emaj-17 122 7 western western ADJ emaj-17 122 8 and and CCONJ emaj-17 122 9 eastern eastern ADJ emaj-17 122 10 european european ADJ emaj-17 122 11 as as ADV emaj-17 122 12 well well ADV emaj-17 122 13 as as ADP emaj-17 122 14 in in ADP emaj-17 122 15 asia asia PROPN emaj-17 122 16 pacific pacific PROPN emaj-17 122 17 countries country NOUN emaj-17 122 18 , , PUNCT emaj-17 122 19 the the DET emaj-17 122 20 “ " PUNCT emaj-17 122 21 insider insider NOUN emaj-17 122 22 system system NOUN emaj-17 122 23 ” " PUNCT emaj-17 122 24 dominates dominate VERB emaj-17 122 25 the the DET emaj-17 122 26 scene scene NOUN emaj-17 122 27 where where SCONJ emaj-17 122 28 the the DET emaj-17 122 29 system system NOUN emaj-17 122 30 is be AUX emaj-17 122 31 a a DET emaj-17 122 32 self self NOUN emaj-17 122 33 - - PUNCT emaj-17 122 34 serving serve VERB emaj-17 122 35 one one NUM emaj-17 122 36 in in ADP emaj-17 122 37 which which PRON emaj-17 122 38 there there PRON emaj-17 122 39 is be VERB emaj-17 122 40 evidence evidence NOUN emaj-17 122 41 of of ADP emaj-17 122 42 a a DET emaj-17 122 43 relationship relationship NOUN emaj-17 122 44 based base VERB emaj-17 122 45 approach approach NOUN emaj-17 122 46 with with ADP emaj-17 122 47 concentrated concentrate VERB emaj-17 122 48 ownership ownership NOUN emaj-17 122 49 , , PUNCT emaj-17 122 50 bank bank NOUN emaj-17 122 51 finance finance NOUN emaj-17 122 52 , , PUNCT emaj-17 122 53 and and CCONJ emaj-17 122 54 representation representation NOUN emaj-17 122 55 of of ADP emaj-17 122 56 majority majority NOUN emaj-17 122 57 interest interest NOUN emaj-17 122 58 ( ( PUNCT emaj-17 122 59 clarke clarke PROPN emaj-17 122 60 , , PUNCT emaj-17 122 61 2007 2007 NUM emaj-17 122 62 ) ) PUNCT emaj-17 122 63 . . PUNCT emaj-17 123 1 hence hence ADV emaj-17 123 2 , , PUNCT emaj-17 123 3 the the DET emaj-17 123 4 agency agency NOUN emaj-17 123 5 problem problem NOUN emaj-17 123 6 is be AUX emaj-17 123 7 much much ADV emaj-17 123 8 more more ADJ emaj-17 123 9 of of ADP emaj-17 123 10 an an DET emaj-17 123 11 issue issue NOUN emaj-17 123 12 in in ADP emaj-17 123 13 this this DET emaj-17 123 14 system system NOUN emaj-17 123 15 . . PUNCT emaj-17 124 1 although although SCONJ emaj-17 124 2 in in ADP emaj-17 124 3 most most ADJ emaj-17 124 4 parts part NOUN emaj-17 124 5 of of ADP emaj-17 124 6 europe europe PROPN emaj-17 124 7 this this DET emaj-17 124 8 system system NOUN emaj-17 124 9 is be AUX emaj-17 124 10 evolving evolve VERB emaj-17 124 11 and and CCONJ emaj-17 124 12 becoming become VERB emaj-17 124 13 more more ADV emaj-17 124 14 converged converged ADJ emaj-17 124 15 and and CCONJ emaj-17 124 16 harmonized harmonized ADJ emaj-17 124 17 , , PUNCT emaj-17 124 18 in in ADP emaj-17 124 19 the the DET emaj-17 124 20 ems ems PROPN emaj-17 124 21 and and CCONJ emaj-17 124 22 rdes rde VERB emaj-17 124 23 family family NOUN emaj-17 124 24 controlled control VERB emaj-17 124 25 pyramidal pyramidal ADJ emaj-17 124 26 corporate corporate ADJ emaj-17 124 27 governance governance NOUN emaj-17 124 28 the the DET emaj-17 124 29 influence influence NOUN emaj-17 124 30 of of ADP emaj-17 124 31 corruption corruption NOUN emaj-17 124 32 on on ADP emaj-17 124 33 corporate corporate ADJ emaj-17 124 34 governance governance NOUN emaj-17 124 35 standards standard NOUN emaj-17 124 36 : : PUNCT emaj-17 124 37 shared share VERB emaj-17 124 38 characteristics characteristic NOUN emaj-17 124 39 of of ADP emaj-17 124 40 rapidly rapidly ADV emaj-17 124 41 developing develop VERB emaj-17 124 42 economies economy NOUN emaj-17 124 43 emerging emerge VERB emaj-17 124 44 markets market NOUN emaj-17 124 45 journal journal NOUN emaj-17 124 46 | | ADV emaj-17 124 47 p p NOUN emaj-17 124 48 a a DET emaj-17 124 49 g g NOUN emaj-17 124 50 e e NOUN emaj-17 125 1 | | ADV emaj-17 125 2 26 26 NUM emaj-17 125 3 volume volume NOUN emaj-17 125 4 2 2 NUM emaj-17 125 5 ( ( PUNCT emaj-17 125 6 2012 2012 NUM emaj-17 125 7 ) ) PUNCT emaj-17 125 8 | | ADV emaj-17 125 9 issn issn VERB emaj-17 125 10 2158 2158 NUM emaj-17 125 11 - - SYM emaj-17 125 12 8708 8708 NUM emaj-17 125 13 ( ( PUNCT emaj-17 125 14 online online NOUN emaj-17 125 15 ) ) PUNCT emaj-17 125 16 | | ADV emaj-17 125 17 doi doi X emaj-17 125 18 10.5195 10.5195 NUM emaj-17 125 19 / / SYM emaj-17 125 20 emaj.2012.17 emaj.2012.17 NOUN emaj-17 125 21 | | NOUN emaj-17 125 22 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 125 23 structures structure NOUN emaj-17 125 24 , , PUNCT emaj-17 125 25 and and CCONJ emaj-17 125 26 business business NOUN emaj-17 125 27 networks network NOUN emaj-17 125 28 still still ADV emaj-17 125 29 set set VERB emaj-17 125 30 the the DET emaj-17 125 31 stage stage NOUN emaj-17 125 32 and and CCONJ emaj-17 125 33 create create VERB emaj-17 125 34 challenges challenge NOUN emaj-17 125 35 for for ADP emaj-17 125 36 oecd oecd PROPN emaj-17 125 37 standards standard NOUN emaj-17 125 38 of of ADP emaj-17 125 39 fairness fairness NOUN emaj-17 125 40 , , PUNCT emaj-17 125 41 accountability accountability NOUN emaj-17 125 42 , , PUNCT emaj-17 125 43 responsibility responsibility NOUN emaj-17 125 44 and and CCONJ emaj-17 125 45 transparency transparency NOUN emaj-17 125 46 . . PUNCT emaj-17 126 1 however however ADV emaj-17 126 2 , , PUNCT emaj-17 126 3 it it PRON emaj-17 126 4 is be AUX emaj-17 126 5 also also ADV emaj-17 126 6 worth worth ADJ emaj-17 126 7 noting note VERB emaj-17 126 8 that that SCONJ emaj-17 126 9 there there PRON emaj-17 126 10 is be VERB emaj-17 126 11 a a DET emaj-17 126 12 wide wide ADJ emaj-17 126 13 range range NOUN emaj-17 126 14 of of ADP emaj-17 126 15 differences difference NOUN emaj-17 126 16 between between ADP emaj-17 126 17 corporate corporate ADJ emaj-17 126 18 governance governance NOUN emaj-17 126 19 structures structure NOUN emaj-17 126 20 and and CCONJ emaj-17 126 21 standards standard NOUN emaj-17 126 22 in in ADP emaj-17 126 23 these these DET emaj-17 126 24 countries country NOUN emaj-17 126 25 depending depend VERB emaj-17 126 26 on on ADP emaj-17 126 27 diverse diverse ADJ emaj-17 126 28 social social ADJ emaj-17 126 29 and and CCONJ emaj-17 126 30 economic economic ADJ emaj-17 126 31 circumstances circumstance NOUN emaj-17 126 32 . . PUNCT emaj-17 127 1 iii iii X emaj-17 127 2 . . AUX emaj-17 127 3     SPACE emaj-17 127 4 research research NOUN emaj-17 127 5     SPACE emaj-17 127 6 method method NOUN emaj-17 127 7     SPACE emaj-17 127 8 two two NUM emaj-17 127 9 key key ADJ emaj-17 127 10 variables variable NOUN emaj-17 127 11 were be AUX emaj-17 127 12 utilized utilize VERB emaj-17 127 13 in in ADP emaj-17 127 14 order order NOUN emaj-17 127 15 to to PART emaj-17 127 16 determine determine VERB emaj-17 127 17 the the DET emaj-17 127 18 influence influence NOUN emaj-17 127 19 of of ADP emaj-17 127 20 corruption corruption NOUN emaj-17 127 21 on on ADP emaj-17 127 22 corporate corporate ADJ emaj-17 127 23 governance governance NOUN emaj-17 127 24 standards standard NOUN emaj-17 127 25 in in ADP emaj-17 127 26 rdes rde NOUN emaj-17 127 27 : : PUNCT emaj-17 127 28 the the DET emaj-17 127 29 perceived perceive VERB emaj-17 127 30 levels level NOUN emaj-17 127 31 of of ADP emaj-17 127 32 corruption corruption NOUN emaj-17 127 33 present present ADJ emaj-17 127 34 in in ADP emaj-17 127 35 the the DET emaj-17 127 36 country country NOUN emaj-17 127 37 as as ADV emaj-17 127 38 well well ADV emaj-17 127 39 as as ADP emaj-17 127 40 the the DET emaj-17 127 41 standards standard NOUN emaj-17 127 42 compliance compliance NOUN emaj-17 127 43 index index NOUN emaj-17 127 44 rating rating NOUN emaj-17 127 45 . . PUNCT emaj-17 128 1 the the DET emaj-17 128 2 corruption corruption NOUN emaj-17 128 3 perception perception NOUN emaj-17 128 4 index index NOUN emaj-17 128 5 , , PUNCT emaj-17 128 6 henceforth henceforth ADV emaj-17 128 7 cpi cpi PROPN emaj-17 128 8 , , PUNCT emaj-17 128 9 values value NOUN emaj-17 128 10 represent represent VERB emaj-17 128 11 the the DET emaj-17 128 12 time time NOUN emaj-17 128 13 period period NOUN emaj-17 128 14 of of ADP emaj-17 128 15 january january PROPN emaj-17 128 16 to to ADP emaj-17 128 17 december december PROPN emaj-17 128 18 of of ADP emaj-17 128 19 2009 2009 NUM emaj-17 128 20 ( ( PUNCT emaj-17 128 21 transparency transparency NOUN emaj-17 128 22 international international NOUN emaj-17 128 23 ) ) PUNCT emaj-17 128 24 . . PUNCT emaj-17 129 1 the the DET emaj-17 129 2 corporate corporate ADJ emaj-17 129 3 governance governance NOUN emaj-17 129 4 factors factor NOUN emaj-17 129 5 to to PART emaj-17 129 6 be be AUX emaj-17 129 7 examined examine VERB emaj-17 129 8 in in ADP emaj-17 129 9 this this DET emaj-17 129 10 study study NOUN emaj-17 129 11 are be AUX emaj-17 129 12 compiled compile VERB emaj-17 129 13 from from ADP emaj-17 129 14 a a DET emaj-17 129 15 list list NOUN emaj-17 129 16 of of ADP emaj-17 129 17 “ " PUNCT emaj-17 129 18 12 12 NUM emaj-17 129 19 key key ADJ emaj-17 129 20 standards standard NOUN emaj-17 129 21 for for ADP emaj-17 129 22 sound sound ADJ emaj-17 129 23 financial financial ADJ emaj-17 129 24 systems system NOUN emaj-17 129 25 ” " PUNCT emaj-17 129 26 , , PUNCT emaj-17 129 27 which which PRON emaj-17 129 28 were be AUX emaj-17 129 29 developed develop VERB emaj-17 129 30 by by ADP emaj-17 129 31 the the DET emaj-17 129 32 estandards estandards PROPN emaj-17 129 33 forum forum VERB emaj-17 129 34 financial financial PROPN emaj-17 129 35 stability stability PROPN emaj-17 129 36 foundation foundation NOUN emaj-17 129 37 in in ADP emaj-17 129 38 1999 1999 NUM emaj-17 129 39 in in ADP emaj-17 129 40 response response NOUN emaj-17 129 41 to to ADP emaj-17 129 42 a a DET emaj-17 129 43 need need NOUN emaj-17 129 44 for for ADP emaj-17 129 45 a a DET emaj-17 129 46 global global ADJ emaj-17 129 47 set set NOUN emaj-17 129 48 of of ADP emaj-17 129 49 best good ADJ emaj-17 129 50 practices practice NOUN emaj-17 129 51 . . PUNCT emaj-17 130 1 these these DET emaj-17 130 2 standards standard NOUN emaj-17 130 3 are be AUX emaj-17 130 4 divided divide VERB emaj-17 130 5 into into ADP emaj-17 130 6 three three NUM emaj-17 130 7 areas area NOUN emaj-17 130 8 : : PUNCT emaj-17 130 9 macroeconomic macroeconomic ADJ emaj-17 130 10 policy policy NOUN emaj-17 130 11 and and CCONJ emaj-17 130 12 data datum NOUN emaj-17 130 13 transparency transparency NOUN emaj-17 130 14 , , PUNCT emaj-17 130 15 institutional institutional ADJ emaj-17 130 16 and and CCONJ emaj-17 130 17 market market NOUN emaj-17 130 18 infrastructure infrastructure NOUN emaj-17 130 19 , , PUNCT emaj-17 130 20 and and CCONJ emaj-17 130 21 financial financial ADJ emaj-17 130 22 regulation regulation NOUN emaj-17 130 23 and and CCONJ emaj-17 130 24 supervision supervision NOUN emaj-17 130 25 . . PUNCT emaj-17 131 1 the the DET emaj-17 131 2 foundation foundation NOUN emaj-17 131 3 monitors monitor NOUN emaj-17 131 4 and and CCONJ emaj-17 131 5 reports report VERB emaj-17 131 6 economic economic ADJ emaj-17 131 7 , , PUNCT emaj-17 131 8 financial financial ADJ emaj-17 131 9 , , PUNCT emaj-17 131 10 and and CCONJ emaj-17 131 11 political political ADJ emaj-17 131 12 conditions condition NOUN emaj-17 131 13 in in ADP emaj-17 131 14 countries country NOUN emaj-17 131 15 across across ADP emaj-17 131 16 the the DET emaj-17 131 17 globe globe NOUN emaj-17 131 18 to to PART emaj-17 131 19 assess assess VERB emaj-17 131 20 compliance compliance NOUN emaj-17 131 21 utilizing utilize VERB emaj-17 131 22 the the DET emaj-17 131 23 financial financial ADJ emaj-17 131 24 sector sector NOUN emaj-17 131 25 assessment assessment NOUN emaj-17 131 26 program program NOUN emaj-17 131 27 and and CCONJ emaj-17 131 28 reports report NOUN emaj-17 131 29 on on ADP emaj-17 131 30 observance observance NOUN emaj-17 131 31 of of ADP emaj-17 131 32 standards standard NOUN emaj-17 131 33 and and CCONJ emaj-17 131 34 codes code NOUN emaj-17 131 35 of of ADP emaj-17 131 36 international international ADJ emaj-17 131 37 monetary monetary ADJ emaj-17 131 38 fund fund NOUN emaj-17 131 39 the the DET emaj-17 131 40 world world PROPN emaj-17 131 41 bank bank PROPN emaj-17 131 42 launched launch VERB emaj-17 131 43 the the DET emaj-17 131 44 same same ADJ emaj-17 131 45 year year NOUN emaj-17 131 46 . . PUNCT emaj-17 132 1 the the DET emaj-17 132 2 standards standard NOUN emaj-17 132 3 compliance compliance NOUN emaj-17 132 4 index index NOUN emaj-17 132 5 rating rating NOUN emaj-17 132 6 is be AUX emaj-17 132 7 converted convert VERB emaj-17 132 8 to to ADP emaj-17 132 9 a a DET emaj-17 132 10 numerical numerical ADJ emaj-17 132 11 score score NOUN emaj-17 132 12 or or CCONJ emaj-17 132 13 ranking ranking NOUN emaj-17 132 14 in in ADP emaj-17 132 15 which which PRON emaj-17 132 16 higher high ADJ emaj-17 132 17 scores score NOUN emaj-17 132 18 represent represent VERB emaj-17 132 19 the the DET emaj-17 132 20 most most ADJ emaj-17 132 21 compliance compliance NOUN emaj-17 132 22 with with ADP emaj-17 132 23 these these DET emaj-17 132 24 standards standard NOUN emaj-17 132 25 as as SCONJ emaj-17 132 26 reported report VERB emaj-17 132 27 by by ADP emaj-17 132 28 estandards estandard NOUN emaj-17 132 29 . . PUNCT emaj-17 133 1 the the DET emaj-17 133 2 process process NOUN emaj-17 133 3 of of ADP emaj-17 133 4 a a DET emaj-17 133 5 country country NOUN emaj-17 133 6 implementing implement VERB emaj-17 133 7 standards standard NOUN emaj-17 133 8 and and CCONJ emaj-17 133 9 codes code NOUN emaj-17 133 10 is be AUX emaj-17 133 11 based base VERB emaj-17 133 12 on on ADP emaj-17 133 13 six six NUM emaj-17 133 14 categories category NOUN emaj-17 133 15 : : PUNCT emaj-17 133 16 full full ADJ emaj-17 133 17 compliance compliance NOUN emaj-17 133 18 , , PUNCT emaj-17 133 19 compliance compliance NOUN emaj-17 133 20 in in ADP emaj-17 133 21 progress progress NOUN emaj-17 133 22 , , PUNCT emaj-17 133 23 enacted enact VERB emaj-17 133 24 , , PUNCT emaj-17 133 25 intent intent NOUN emaj-17 133 26 declared declare VERB emaj-17 133 27 , , PUNCT emaj-17 133 28 no no DET emaj-17 133 29 compliance compliance NOUN emaj-17 133 30 , , PUNCT emaj-17 133 31 and and CCONJ emaj-17 133 32 insufficient insufficient ADJ emaj-17 133 33 information information NOUN emaj-17 133 34 . . PUNCT emaj-17 134 1 the the DET emaj-17 134 2 most most ADV emaj-17 134 3 desired desire VERB emaj-17 134 4 category category NOUN emaj-17 134 5 for for ADP emaj-17 134 6 any any DET emaj-17 134 7 country country NOUN emaj-17 134 8 to to PART emaj-17 134 9 have have VERB emaj-17 134 10 is be AUX emaj-17 134 11 “ " PUNCT emaj-17 134 12 full full ADJ emaj-17 134 13 compliance compliance NOUN emaj-17 134 14 ” " PUNCT emaj-17 134 15 in in ADP emaj-17 134 16 which which PRON emaj-17 134 17 they they PRON emaj-17 134 18 have have AUX emaj-17 134 19 made make VERB emaj-17 134 20 all all DET emaj-17 134 21 information information NOUN emaj-17 134 22 public public ADJ emaj-17 134 23 and and CCONJ emaj-17 134 24 transparent transparent ADJ emaj-17 134 25 regarding regard VERB emaj-17 134 26 each each DET emaj-17 134 27 standard standard NOUN emaj-17 134 28 and and CCONJ emaj-17 134 29 the the DET emaj-17 134 30 laws law NOUN emaj-17 134 31 and and CCONJ emaj-17 134 32 regulations regulation NOUN emaj-17 134 33 are be AUX emaj-17 134 34 enforced enforce VERB emaj-17 134 35 . . PUNCT emaj-17 135 1 the the DET emaj-17 135 2 second second ADJ emaj-17 135 3 most most ADV emaj-17 135 4 desirable desirable ADJ emaj-17 135 5 category category NOUN emaj-17 135 6 is be AUX emaj-17 135 7 “ " PUNCT emaj-17 135 8 compliance compliance NOUN emaj-17 135 9 in in ADP emaj-17 135 10 progress progress NOUN emaj-17 135 11 ” " PUNCT emaj-17 135 12 , , PUNCT emaj-17 135 13 which which PRON emaj-17 135 14 deems deem VERB emaj-17 135 15 that that SCONJ emaj-17 135 16 the the DET emaj-17 135 17 country country NOUN emaj-17 135 18 has have AUX emaj-17 135 19 made make VERB emaj-17 135 20 the the DET emaj-17 135 21 relevant relevant ADJ emaj-17 135 22 standards standard NOUN emaj-17 135 23 into into ADP emaj-17 135 24 laws law NOUN emaj-17 135 25 or or CCONJ emaj-17 135 26 regulations regulation NOUN emaj-17 135 27 and and CCONJ emaj-17 135 28 are be AUX emaj-17 135 29 making make VERB emaj-17 135 30 enforcement enforcement NOUN emaj-17 135 31 a a DET emaj-17 135 32 priority priority NOUN emaj-17 135 33 . . PUNCT emaj-17 136 1 such such ADJ emaj-17 136 2 information information NOUN emaj-17 136 3 regarding regard VERB emaj-17 136 4 these these DET emaj-17 136 5 standards standard NOUN emaj-17 136 6 has have AUX emaj-17 136 7 been be AUX emaj-17 136 8 made make VERB emaj-17 136 9 publicly publicly ADV emaj-17 136 10 available available ADJ emaj-17 136 11 and and CCONJ emaj-17 136 12 the the DET emaj-17 136 13 country country NOUN emaj-17 136 14 is be AUX emaj-17 136 15 working work VERB emaj-17 136 16 towards towards ADP emaj-17 136 17 full full ADJ emaj-17 136 18 compliance compliance NOUN emaj-17 136 19 . . PUNCT emaj-17 137 1 acquiring acquire VERB emaj-17 137 2 “ " PUNCT emaj-17 137 3 enacted enact VERB emaj-17 137 4 ” " PUNCT emaj-17 137 5 status status NOUN emaj-17 137 6 means mean VERB emaj-17 137 7 that that SCONJ emaj-17 137 8 most most ADJ emaj-17 137 9 of of ADP emaj-17 137 10 the the DET emaj-17 137 11 principles principle NOUN emaj-17 137 12 of of ADP emaj-17 137 13 the the DET emaj-17 137 14 relevant relevant ADJ emaj-17 137 15 standards standard NOUN emaj-17 137 16 have have AUX emaj-17 137 17 been be AUX emaj-17 137 18 made make VERB emaj-17 137 19 publicly publicly ADV emaj-17 137 20 available available ADJ emaj-17 137 21 and and CCONJ emaj-17 137 22 have have AUX emaj-17 137 23 been be AUX emaj-17 137 24 made make VERB emaj-17 137 25 into into ADP emaj-17 137 26 laws law NOUN emaj-17 137 27 or or CCONJ emaj-17 137 28 regulations regulation NOUN emaj-17 137 29 , , PUNCT emaj-17 137 30 however however ADV emaj-17 137 31 , , PUNCT emaj-17 137 32 enforcing enforce VERB emaj-17 137 33 these these DET emaj-17 137 34 laws law NOUN emaj-17 137 35 and and CCONJ emaj-17 137 36 regulations regulation NOUN emaj-17 137 37 is be AUX emaj-17 137 38 lacking lack VERB emaj-17 137 39 . . PUNCT emaj-17 138 1 the the DET emaj-17 138 2 “ " PUNCT emaj-17 138 3 intent intent NOUN emaj-17 138 4 declared declare VERB emaj-17 138 5 ” " PUNCT emaj-17 138 6 category category NOUN emaj-17 138 7 means mean VERB emaj-17 138 8 that that SCONJ emaj-17 138 9 the the DET emaj-17 138 10 country country NOUN emaj-17 138 11 has have AUX emaj-17 138 12 stated state VERB emaj-17 138 13 that that SCONJ emaj-17 138 14 it it PRON emaj-17 138 15 will will AUX emaj-17 138 16 take take VERB emaj-17 138 17 the the DET emaj-17 138 18 necessary necessary ADJ emaj-17 138 19 steps step NOUN emaj-17 138 20 to to PART emaj-17 138 21 comply comply VERB emaj-17 138 22 with with ADP emaj-17 138 23 the the DET emaj-17 138 24 compliance compliance NOUN emaj-17 138 25 of of ADP emaj-17 138 26 these these DET emaj-17 138 27 standards standard NOUN emaj-17 138 28 and and CCONJ emaj-17 138 29 declare declare VERB emaj-17 138 30 them they PRON emaj-17 138 31 into into ADP emaj-17 138 32 laws law NOUN emaj-17 138 33 or or CCONJ emaj-17 138 34 regulations regulation NOUN emaj-17 138 35 . . PUNCT emaj-17 139 1 the the DET emaj-17 139 2 “ " PUNCT emaj-17 139 3 no no DET emaj-17 139 4 compliance compliance NOUN emaj-17 139 5 ” " PUNCT emaj-17 139 6 category category NOUN emaj-17 139 7 means mean VERB emaj-17 139 8 that that SCONJ emaj-17 139 9 the the DET emaj-17 139 10 country country NOUN emaj-17 139 11 has have AUX emaj-17 139 12 not not PART emaj-17 139 13 incorporated incorporate VERB emaj-17 139 14 any any PRON emaj-17 139 15 of of ADP emaj-17 139 16 the the DET emaj-17 139 17 relevant relevant ADJ emaj-17 139 18 standards standard NOUN emaj-17 139 19 into into ADP emaj-17 139 20 laws law NOUN emaj-17 139 21 or or CCONJ emaj-17 139 22 regulations regulation NOUN emaj-17 139 23 and and CCONJ emaj-17 139 24 no no DET emaj-17 139 25 enforcement enforcement NOUN emaj-17 139 26 exists exist VERB emaj-17 139 27 . . PUNCT emaj-17 140 1 the the DET emaj-17 140 2 final final ADJ emaj-17 140 3 category category NOUN emaj-17 140 4 is be AUX emaj-17 140 5 “ " PUNCT emaj-17 140 6 insufficient insufficient ADJ emaj-17 140 7 information information NOUN emaj-17 140 8 ” " PUNCT emaj-17 140 9 in in ADP emaj-17 140 10 which which PRON emaj-17 140 11 there there PRON emaj-17 140 12 simply simply ADV emaj-17 140 13 is be AUX emaj-17 140 14 not not PART emaj-17 140 15 enough enough ADJ emaj-17 140 16 information information NOUN emaj-17 140 17 publicly publicly ADV emaj-17 140 18 available available ADJ emaj-17 140 19 to to PART emaj-17 140 20 assess assess VERB emaj-17 140 21 the the DET emaj-17 140 22 level level NOUN emaj-17 140 23 of of ADP emaj-17 140 24 compliance compliance NOUN emaj-17 140 25 . . PUNCT emaj-17 141 1 ( ( PUNCT emaj-17 141 2 estandards estandard NOUN emaj-17 141 3 , , PUNCT emaj-17 141 4 2010 2010 NUM emaj-17 141 5 ) ) PUNCT emaj-17 141 6 . . PUNCT emaj-17 142 1 based base VERB emaj-17 142 2 on on ADP emaj-17 142 3 these these DET emaj-17 142 4 aforementioned aforementioned ADJ emaj-17 142 5 categories category NOUN emaj-17 142 6 , , PUNCT emaj-17 142 7 each each DET emaj-17 142 8 country country NOUN emaj-17 142 9 is be AUX emaj-17 142 10 given give VERB emaj-17 142 11 a a DET emaj-17 142 12 score score NOUN emaj-17 142 13 from from ADP emaj-17 142 14 0 0 NUM emaj-17 142 15 ( ( PUNCT emaj-17 142 16 representing represent VERB emaj-17 142 17 insufficient insufficient ADJ emaj-17 142 18 information information NOUN emaj-17 142 19 ) ) PUNCT emaj-17 142 20 to to ADP emaj-17 142 21 10 10 NUM emaj-17 142 22 ( ( PUNCT emaj-17 142 23 representing represent VERB emaj-17 142 24 full full ADJ emaj-17 142 25 compliance compliance NOUN emaj-17 142 26 ) ) PUNCT emaj-17 142 27 . . PUNCT emaj-17 143 1 to to PART emaj-17 143 2 come come VERB emaj-17 143 3 up up ADP emaj-17 143 4 with with ADP emaj-17 143 5 an an DET emaj-17 143 6 overall overall ADJ emaj-17 143 7 rating rating NOUN emaj-17 143 8 , , PUNCT emaj-17 143 9 the the DET emaj-17 143 10 country country NOUN emaj-17 143 11 is be AUX emaj-17 143 12 measured measure VERB emaj-17 143 13 on on ADP emaj-17 143 14 the the DET emaj-17 143 15 degree degree NOUN emaj-17 143 16 of of ADP emaj-17 143 17 compliance compliance NOUN emaj-17 143 18 based base VERB emaj-17 143 19 on on ADP emaj-17 143 20 the the DET emaj-17 143 21 following follow VERB emaj-17 143 22 scale scale NOUN emaj-17 143 23 to to PART emaj-17 143 24 come come VERB emaj-17 143 25 up up ADP emaj-17 143 26 with with ADP emaj-17 143 27 an an DET emaj-17 143 28 overall overall ADJ emaj-17 143 29 rating rating NOUN emaj-17 143 30 : : PUNCT emaj-17 143 31 very very ADV emaj-17 143 32 high high ADJ emaj-17 143 33 compliance compliance NOUN emaj-17 143 34 80100 80100 NUM emaj-17 143 35 , , PUNCT emaj-17 143 36 high high ADJ emaj-17 143 37 compliance compliance NOUN emaj-17 143 38 60 60 NUM emaj-17 143 39 - - SYM emaj-17 143 40 80 80 NUM emaj-17 143 41 , , PUNCT emaj-17 143 42 medium medium ADJ emaj-17 143 43 compliance compliance NOUN emaj-17 143 44 40 40 NUM emaj-17 143 45 - - SYM emaj-17 143 46 60 60 NUM emaj-17 143 47 , , PUNCT emaj-17 143 48 low low ADJ emaj-17 143 49 compliance compliance NOUN emaj-17 143 50 29 29 NUM emaj-17 143 51 - - SYM emaj-17 143 52 40 40 NUM emaj-17 143 53 , , PUNCT emaj-17 143 54 and and CCONJ emaj-17 143 55 very very ADV emaj-17 143 56 low low ADJ emaj-17 143 57 compliance compliance NOUN emaj-17 143 58 0 0 NUM emaj-17 143 59 - - SYM emaj-17 143 60 20 20 NUM emaj-17 143 61 . . PUNCT emaj-17 144 1 this this PRON emaj-17 144 2 would would AUX emaj-17 144 3 enable enable VERB emaj-17 144 4 countries country NOUN emaj-17 144 5 with with ADP emaj-17 144 6 insufficient insufficient ADJ emaj-17 144 7 information information NOUN emaj-17 144 8 to to PART emaj-17 144 9 still still ADV emaj-17 144 10 obtain obtain VERB emaj-17 144 11 a a DET emaj-17 144 12 financial financial ADJ emaj-17 144 13 standards standard NOUN emaj-17 144 14 index index NOUN emaj-17 144 15 score score NOUN emaj-17 144 16 with with ADP emaj-17 144 17 regard regard NOUN emaj-17 144 18 to to ADP emaj-17 144 19 the the DET emaj-17 144 20 level level NOUN emaj-17 144 21 of of ADP emaj-17 144 22 compliance compliance NOUN emaj-17 144 23 with with ADP emaj-17 144 24 the the DET emaj-17 144 25 standards standard NOUN emaj-17 144 26 . . PUNCT emaj-17 145 1 the the DET emaj-17 145 2 cpi cpi PROPN emaj-17 145 3 values value NOUN emaj-17 145 4 range range VERB emaj-17 145 5 from from ADP emaj-17 145 6 0 0 NUM emaj-17 145 7 ( ( PUNCT emaj-17 145 8 no no DET emaj-17 145 9 corruption corruption NOUN emaj-17 145 10 present present ADJ emaj-17 145 11 ) ) PUNCT emaj-17 145 12 to to ADP emaj-17 145 13 10 10 NUM emaj-17 145 14 ( ( PUNCT emaj-17 145 15 rampant rampant ADJ emaj-17 145 16 corruption corruption NOUN emaj-17 145 17 ) ) PUNCT emaj-17 145 18 , , PUNCT emaj-17 145 19 however however ADV emaj-17 145 20 , , PUNCT emaj-17 145 21 this this DET emaj-17 145 22 rating rating NOUN emaj-17 145 23 was be AUX emaj-17 145 24 reversed reverse VERB emaj-17 145 25 to to PART emaj-17 145 26 comply comply VERB emaj-17 145 27 with with ADP emaj-17 145 28 the the DET emaj-17 145 29 other other ADJ emaj-17 145 30 variable variable NOUN emaj-17 145 31 , , PUNCT emaj-17 145 32 standard standard ADJ emaj-17 145 33 compliance compliance NOUN emaj-17 145 34 index index NOUN emaj-17 145 35 rating rating NOUN emaj-17 145 36 . . PUNCT emaj-17 146 1 this this DET emaj-17 146 2 the the DET emaj-17 146 3 influence influence NOUN emaj-17 146 4 of of ADP emaj-17 146 5 corruption corruption NOUN emaj-17 146 6 on on ADP emaj-17 146 7 corporate corporate ADJ emaj-17 146 8 governance governance NOUN emaj-17 146 9 standards standard NOUN emaj-17 146 10 : : PUNCT emaj-17 146 11 shared share VERB emaj-17 146 12 characteristics characteristic NOUN emaj-17 146 13 of of ADP emaj-17 146 14 rapidly rapidly ADV emaj-17 146 15 developing develop VERB emaj-17 146 16 economies economy NOUN emaj-17 146 17 emerging emerge VERB emaj-17 146 18 markets market NOUN emaj-17 146 19 journal journal NOUN emaj-17 146 20 | | ADV emaj-17 146 21 p p NOUN emaj-17 146 22 a a DET emaj-17 146 23 g g NOUN emaj-17 146 24 e e PROPN emaj-17 146 25 | | ADV emaj-17 146 26 27 27 NUM emaj-17 146 27 volume volume NOUN emaj-17 146 28 2 2 NUM emaj-17 146 29 ( ( PUNCT emaj-17 146 30 2012 2012 NUM emaj-17 146 31 ) ) PUNCT emaj-17 146 32 | | ADV emaj-17 146 33 issn issn VERB emaj-17 146 34 2158 2158 NUM emaj-17 146 35 - - SYM emaj-17 146 36 8708 8708 NUM emaj-17 146 37 ( ( PUNCT emaj-17 146 38 online online NOUN emaj-17 146 39 ) ) PUNCT emaj-17 147 1 | | ADV emaj-17 147 2 doi doi X emaj-17 147 3 10.5195 10.5195 NUM emaj-17 147 4 / / SYM emaj-17 147 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 147 6 | | NOUN emaj-17 147 7 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 147 8 index index NOUN emaj-17 147 9 ranges range VERB emaj-17 147 10 from from ADP emaj-17 147 11 1 1 NUM emaj-17 147 12 to to PART emaj-17 147 13 100 100 NUM emaj-17 147 14 in in ADP emaj-17 147 15 which which PRON emaj-17 147 16 higher high ADJ emaj-17 147 17 scores score NOUN emaj-17 147 18 are be AUX emaj-17 147 19 desirable desirable ADJ emaj-17 147 20 and and CCONJ emaj-17 147 21 represent represent VERB emaj-17 147 22 the the DET emaj-17 147 23 best good ADJ emaj-17 147 24 performance performance NOUN emaj-17 147 25 . . PUNCT emaj-17 148 1 in in ADP emaj-17 148 2 the the DET emaj-17 148 3 case case NOUN emaj-17 148 4 of of ADP emaj-17 148 5 cpi cpi NOUN emaj-17 148 6 , , PUNCT emaj-17 148 7 lower low ADJ emaj-17 148 8 scores score NOUN emaj-17 148 9 are be AUX emaj-17 148 10 desirable desirable ADJ emaj-17 148 11 ; ; PUNCT emaj-17 148 12 therefore therefore ADV emaj-17 148 13 a a DET emaj-17 148 14 score score NOUN emaj-17 148 15 of of ADP emaj-17 148 16 2.0 2.0 NUM emaj-17 148 17 depicting depict VERB emaj-17 148 18 little little ADJ emaj-17 148 19 corruption corruption NOUN emaj-17 148 20 was be AUX emaj-17 148 21 reversed reverse VERB emaj-17 148 22 to to ADP emaj-17 148 23 8.0 8.0 NUM emaj-17 148 24 and and CCONJ emaj-17 148 25 multiplied multiply VERB emaj-17 148 26 by by ADP emaj-17 148 27 8.3 8.3 NUM emaj-17 148 28 to to PART emaj-17 148 29 be be AUX emaj-17 148 30 on on ADP emaj-17 148 31 the the DET emaj-17 148 32 same same ADJ emaj-17 148 33 scale scale NOUN emaj-17 148 34 as as ADP emaj-17 148 35 the the DET emaj-17 148 36 standards standard NOUN emaj-17 148 37 compliance compliance NOUN emaj-17 148 38 index index NOUN emaj-17 148 39 . . PUNCT emaj-17 149 1 iv iv X emaj-17 149 2 . . PUNCT emaj-17 149 3 research research NOUN emaj-17 149 4     SPACE emaj-17 149 5 findings finding VERB emaj-17 149 6     SPACE emaj-17 149 7 a a DET emaj-17 149 8 majority majority NOUN emaj-17 149 9 of of ADP emaj-17 149 10 the the DET emaj-17 149 11 profiled profile VERB emaj-17 149 12 rde rde PROPN emaj-17 149 13 countries country NOUN emaj-17 149 14 have have AUX emaj-17 149 15 acquired acquire VERB emaj-17 149 16 “ " PUNCT emaj-17 149 17 enacted enact VERB emaj-17 149 18 ” " PUNCT emaj-17 149 19 status status NOUN emaj-17 149 20 : : PUNCT emaj-17 149 21 argentina argentina PROPN emaj-17 149 22 , , PUNCT emaj-17 149 23 chile chile PROPN emaj-17 149 24 , , PUNCT emaj-17 149 25 hungary hungary PROPN emaj-17 149 26 , , PUNCT emaj-17 149 27 india india PROPN emaj-17 149 28 , , PUNCT emaj-17 149 29 indonesia indonesia PROPN emaj-17 149 30 , , PUNCT emaj-17 149 31 malaysia malaysia PROPN emaj-17 149 32 , , PUNCT emaj-17 149 33 mexico mexico PROPN emaj-17 149 34 , , PUNCT emaj-17 149 35 russia russia PROPN emaj-17 149 36 , , PUNCT emaj-17 149 37 thailand thailand PROPN emaj-17 149 38 , , PUNCT emaj-17 149 39 and and CCONJ emaj-17 149 40 turkey turkey NOUN emaj-17 149 41 . . PUNCT emaj-17 150 1 acquiring acquire VERB emaj-17 150 2 “ " PUNCT emaj-17 150 3 enacted enact VERB emaj-17 150 4 ” " PUNCT emaj-17 150 5 status status NOUN emaj-17 150 6 means mean VERB emaj-17 150 7 that that SCONJ emaj-17 150 8 most most ADJ emaj-17 150 9 of of ADP emaj-17 150 10 the the DET emaj-17 150 11 principles principle NOUN emaj-17 150 12 of of ADP emaj-17 150 13 the the DET emaj-17 150 14 relevant relevant ADJ emaj-17 150 15 standards standard NOUN emaj-17 150 16 have have AUX emaj-17 150 17 been be AUX emaj-17 150 18 made make VERB emaj-17 150 19 publicly publicly ADV emaj-17 150 20 available available ADJ emaj-17 150 21 and and CCONJ emaj-17 150 22 have have AUX emaj-17 150 23 been be AUX emaj-17 150 24 made make VERB emaj-17 150 25 into into ADP emaj-17 150 26 laws law NOUN emaj-17 150 27 or or CCONJ emaj-17 150 28 regulations regulation NOUN emaj-17 150 29 , , PUNCT emaj-17 150 30 however however ADV emaj-17 150 31 , , PUNCT emaj-17 150 32 enforcing enforce VERB emaj-17 150 33 these these DET emaj-17 150 34 laws law NOUN emaj-17 150 35 and and CCONJ emaj-17 150 36 regulations regulation NOUN emaj-17 150 37 is be AUX emaj-17 150 38 lacking lack VERB emaj-17 150 39 . . PUNCT emaj-17 151 1 this this PRON emaj-17 151 2 is be AUX emaj-17 151 3 certainly certainly ADV emaj-17 151 4 a a DET emaj-17 151 5 step step NOUN emaj-17 151 6 in in ADP emaj-17 151 7 the the DET emaj-17 151 8 right right ADJ emaj-17 151 9 direction direction NOUN emaj-17 151 10 , , PUNCT emaj-17 151 11 but but CCONJ emaj-17 151 12 these these DET emaj-17 151 13 countries country NOUN emaj-17 151 14 need need VERB emaj-17 151 15 to to PART emaj-17 151 16 do do VERB emaj-17 151 17 more more ADJ emaj-17 151 18 to to PART emaj-17 151 19 improve improve VERB emaj-17 151 20 their their PRON emaj-17 151 21 level level NOUN emaj-17 151 22 of of ADP emaj-17 151 23 compliance compliance NOUN emaj-17 151 24 . . PUNCT emaj-17 152 1 there there PRON emaj-17 152 2 were be VERB emaj-17 152 3 no no DET emaj-17 152 4 profiled profile VERB emaj-17 152 5 rde rde PROPN emaj-17 152 6 countries country NOUN emaj-17 152 7 with with ADP emaj-17 152 8 “ " PUNCT emaj-17 152 9 full full ADJ emaj-17 152 10 compliance compliance NOUN emaj-17 152 11 ” " PUNCT emaj-17 152 12 or or CCONJ emaj-17 152 13 “ " PUNCT emaj-17 152 14 compliance compliance NOUN emaj-17 152 15 in in ADP emaj-17 152 16 progress progress NOUN emaj-17 152 17 ” " PUNCT emaj-17 152 18 status status NOUN emaj-17 152 19 . . PUNCT emaj-17 153 1 developed develop VERB emaj-17 153 2 countries country NOUN emaj-17 153 3 are be AUX emaj-17 153 4 more more ADV emaj-17 153 5 apt apt ADJ emaj-17 153 6 to to PART emaj-17 153 7 fit fit VERB emaj-17 153 8 into into ADP emaj-17 153 9 these these DET emaj-17 153 10 two two NUM emaj-17 153 11 categories category NOUN emaj-17 153 12 : : PUNCT emaj-17 153 13 “ " PUNCT emaj-17 153 14 enacted enact VERB emaj-17 153 15 ” " PUNCT emaj-17 153 16 or or CCONJ emaj-17 153 17 “ " PUNCT emaj-17 153 18 intent intent NOUN emaj-17 153 19 declared declare VERB emaj-17 153 20 ” " PUNCT emaj-17 153 21 . . PUNCT emaj-17 154 1 acquiring acquire VERB emaj-17 154 2 either either CCONJ emaj-17 154 3 rating rating NOUN emaj-17 154 4 would would AUX emaj-17 154 5 certainly certainly ADV emaj-17 154 6 assist assist VERB emaj-17 154 7 in in ADP emaj-17 154 8 making make VERB emaj-17 154 9 these these DET emaj-17 154 10 countries country NOUN emaj-17 154 11 more more ADV emaj-17 154 12 attractive attractive ADJ emaj-17 154 13 to to ADP emaj-17 154 14 foreign foreign ADJ emaj-17 154 15 investors investor NOUN emaj-17 154 16 . . PUNCT emaj-17 155 1 this this DET emaj-17 155 2 study study NOUN emaj-17 155 3 includes include VERB emaj-17 155 4 three three NUM emaj-17 155 5 profiled profile VERB emaj-17 155 6 rde rde PROPN emaj-17 155 7 countries country NOUN emaj-17 155 8 that that PRON emaj-17 155 9 have have AUX emaj-17 155 10 “ " PUNCT emaj-17 155 11 intent intent ADJ emaj-17 155 12 declared declare VERB emaj-17 155 13 ” " PUNCT emaj-17 155 14 status status NOUN emaj-17 155 15 : : PUNCT emaj-17 155 16 brazil brazil PROPN emaj-17 155 17 , , PUNCT emaj-17 155 18 china china PROPN emaj-17 155 19 , , PUNCT emaj-17 155 20 and and CCONJ emaj-17 155 21 the the DET emaj-17 155 22 united united PROPN emaj-17 155 23 arab arab PROPN emaj-17 155 24 emirates emirates PROPN emaj-17 155 25 . . PUNCT emaj-17 156 1 the the DET emaj-17 156 2 “ " PUNCT emaj-17 156 3 intent intent NOUN emaj-17 156 4 declared declare VERB emaj-17 156 5 ” " PUNCT emaj-17 156 6 category category NOUN emaj-17 156 7 means mean VERB emaj-17 156 8 that that SCONJ emaj-17 156 9 the the DET emaj-17 156 10 country country NOUN emaj-17 156 11 has have AUX emaj-17 156 12 stated state VERB emaj-17 156 13 that that SCONJ emaj-17 156 14 it it PRON emaj-17 156 15 will will AUX emaj-17 156 16 take take VERB emaj-17 156 17 the the DET emaj-17 156 18 necessary necessary ADJ emaj-17 156 19 steps step NOUN emaj-17 156 20 to to PART emaj-17 156 21 comply comply VERB emaj-17 156 22 with with ADP emaj-17 156 23 the the DET emaj-17 156 24 compliance compliance NOUN emaj-17 156 25 of of ADP emaj-17 156 26 these these DET emaj-17 156 27 standards standard NOUN emaj-17 156 28 and and CCONJ emaj-17 156 29 declare declare VERB emaj-17 156 30 them they PRON emaj-17 156 31 into into ADP emaj-17 156 32 laws law NOUN emaj-17 156 33 or or CCONJ emaj-17 156 34 regulations regulation NOUN emaj-17 156 35 . . PUNCT emaj-17 157 1 no no DET emaj-17 157 2 profiled profile VERB emaj-17 157 3 rde rde PROPN emaj-17 157 4 countries country NOUN emaj-17 157 5 fell fall VERB emaj-17 157 6 in in ADP emaj-17 157 7 the the DET emaj-17 157 8 “ " PUNCT emaj-17 157 9 no no DET emaj-17 157 10 compliance compliance NOUN emaj-17 157 11 ” " PUNCT emaj-17 157 12 category category NOUN emaj-17 157 13 , , PUNCT emaj-17 157 14 however however ADV emaj-17 157 15 , , PUNCT emaj-17 157 16 one one NUM emaj-17 157 17 country country NOUN emaj-17 157 18 from from ADP emaj-17 157 19 this this DET emaj-17 157 20 study study NOUN emaj-17 157 21 falls fall VERB emaj-17 157 22 under under ADP emaj-17 157 23 the the DET emaj-17 157 24 “ " PUNCT emaj-17 157 25 insufficient insufficient ADJ emaj-17 157 26 information information NOUN emaj-17 157 27 ” " PUNCT emaj-17 157 28 category category NOUN emaj-17 157 29 , , PUNCT emaj-17 157 30 which which PRON emaj-17 157 31 is be AUX emaj-17 157 32 kuwait kuwait PROPN emaj-17 157 33 . . PUNCT emaj-17 158 1 this this DET emaj-17 158 2 country country NOUN emaj-17 158 3 does do AUX emaj-17 158 4 not not PART emaj-17 158 5 have have VERB emaj-17 158 6 enough enough ADJ emaj-17 158 7 information information NOUN emaj-17 158 8 publicly publicly ADV emaj-17 158 9 available available ADJ emaj-17 158 10 to to PART emaj-17 158 11 assess assess VERB emaj-17 158 12 the the DET emaj-17 158 13 level level NOUN emaj-17 158 14 of of ADP emaj-17 158 15 compliance compliance NOUN emaj-17 158 16 . . PUNCT emaj-17 159 1 kuwait kuwait PROPN emaj-17 159 2 is be AUX emaj-17 159 3 nevertheless nevertheless ADV emaj-17 159 4 included include VERB emaj-17 159 5 in in ADP emaj-17 159 6 the the DET emaj-17 159 7 study study NOUN emaj-17 159 8 as as SCONJ emaj-17 159 9 it it PRON emaj-17 159 10 still still ADV emaj-17 159 11 obtained obtain VERB emaj-17 159 12 a a DET emaj-17 159 13 standard standard ADJ emaj-17 159 14 compliance compliance NOUN emaj-17 159 15 rating rating NOUN emaj-17 159 16 based base VERB emaj-17 159 17 on on ADP emaj-17 159 18 the the DET emaj-17 159 19 information information NOUN emaj-17 159 20 it it PRON emaj-17 159 21 did do AUX emaj-17 159 22 provide provide VERB emaj-17 159 23 albeit albeit ADV emaj-17 159 24 rather rather ADV emaj-17 159 25 low low ADJ emaj-17 159 26 despite despite SCONJ emaj-17 159 27 high high ADJ emaj-17 159 28 inward inward ADJ emaj-17 159 29 fdi fdi PROPN emaj-17 159 30 and and CCONJ emaj-17 159 31 a a DET emaj-17 159 32 predicted predict VERB emaj-17 159 33 2.4 2.4 NUM emaj-17 159 34 % % NOUN emaj-17 159 35 growth growth NOUN emaj-17 159 36 rate rate NOUN emaj-17 159 37 as as SCONJ emaj-17 159 38 reported report VERB emaj-17 159 39 by by ADP emaj-17 159 40 the the DET emaj-17 159 41 international international ADJ emaj-17 159 42 monetary monetary ADJ emaj-17 159 43 fund fund NOUN emaj-17 159 44 for for ADP emaj-17 159 45 2010 2010 NUM emaj-17 159 46 . . PUNCT emaj-17 160 1 kuwait kuwait PROPN emaj-17 160 2 is be AUX emaj-17 160 3 also also ADV emaj-17 160 4 included include VERB emaj-17 160 5 due due ADJ emaj-17 160 6 to to ADP emaj-17 160 7 being be AUX emaj-17 160 8 identified identify VERB emaj-17 160 9 as as ADP emaj-17 160 10 a a DET emaj-17 160 11 “ " PUNCT emaj-17 160 12 top top ADJ emaj-17 160 13 global global ADJ emaj-17 160 14 challenger challenger NOUN emaj-17 160 15 ” " PUNCT emaj-17 160 16 by by ADP emaj-17 160 17 the the DET emaj-17 160 18 boston boston PROPN emaj-17 160 19 consulting consulting PROPN emaj-17 160 20 group group NOUN emaj-17 160 21 for for ADP emaj-17 160 22 2009 2009 NUM emaj-17 160 23 as as SCONJ emaj-17 160 24 previously previously ADV emaj-17 160 25 stated state VERB emaj-17 160 26 . . PUNCT emaj-17 161 1 ( ( PUNCT emaj-17 161 2 estandards estandard NOUN emaj-17 161 3 , , PUNCT emaj-17 161 4 2010 2010 NUM emaj-17 161 5 ) ) PUNCT emaj-17 161 6 . . PUNCT emaj-17 162 1 see see VERB emaj-17 162 2 table table NOUN emaj-17 162 3 i i PRON emaj-17 162 4 on on ADP emaj-17 162 5 the the DET emaj-17 162 6 following follow VERB emaj-17 162 7 page page NOUN emaj-17 162 8 . . PUNCT emaj-17 163 1 the the DET emaj-17 163 2 profiled profile VERB emaj-17 163 3 rdes rde NOUN emaj-17 163 4 have have VERB emaj-17 163 5 the the DET emaj-17 163 6 following follow VERB emaj-17 163 7 standards standard NOUN emaj-17 163 8 compliance compliance NOUN emaj-17 163 9 ratings rating NOUN emaj-17 163 10 in in ADP emaj-17 163 11 order order NOUN emaj-17 163 12 from from ADP emaj-17 163 13 best good ADJ emaj-17 163 14 performance performance NOUN emaj-17 163 15 to to PART emaj-17 163 16 worst bad ADJ emaj-17 163 17 performance performance NOUN emaj-17 163 18 based base VERB emaj-17 163 19 on on ADP emaj-17 163 20 the the DET emaj-17 163 21 aforementioned aforementioned ADJ emaj-17 163 22 criteria criterion NOUN emaj-17 163 23 : : PUNCT emaj-17 163 24 hungary hungary PROPN emaj-17 163 25 ( ( PUNCT emaj-17 163 26 60.83 60.83 NUM emaj-17 163 27 ) ) PUNCT emaj-17 163 28 , , PUNCT emaj-17 163 29 india india PROPN emaj-17 163 30 ( ( PUNCT emaj-17 163 31 58.33 58.33 NUM emaj-17 163 32 ) ) PUNCT emaj-17 163 33 , , PUNCT emaj-17 163 34 chile chile PROPN emaj-17 163 35 ( ( PUNCT emaj-17 163 36 54.17 54.17 NUM emaj-17 163 37 ) ) PUNCT emaj-17 163 38 , , PUNCT emaj-17 163 39 mexico mexico PROPN emaj-17 163 40 ( ( PUNCT emaj-17 163 41 53.33 53.33 NUM emaj-17 163 42 ) ) PUNCT emaj-17 163 43 , , PUNCT emaj-17 163 44 thailand thailand PROPN emaj-17 163 45 ( ( PUNCT emaj-17 163 46 50.83 50.83 NUM emaj-17 163 47 ) ) PUNCT emaj-17 163 48 , , PUNCT emaj-17 163 49 turkey turkey NOUN emaj-17 163 50 ( ( PUNCT emaj-17 163 51 48.33 48.33 NUM emaj-17 163 52 ) ) PUNCT emaj-17 163 53 , , PUNCT emaj-17 163 54 malaysia malaysia PROPN emaj-17 163 55 ( ( PUNCT emaj-17 163 56 46.67 46.67 NUM emaj-17 163 57 ) ) PUNCT emaj-17 163 58 , , PUNCT emaj-17 163 59 indonesia indonesia PROPN emaj-17 163 60 ( ( PUNCT emaj-17 163 61 43.33 43.33 NUM emaj-17 163 62 ) ) PUNCT emaj-17 163 63 , , PUNCT emaj-17 163 64 russia russia PROPN emaj-17 163 65 ( ( PUNCT emaj-17 163 66 42.50 42.50 NUM emaj-17 163 67 ) ) PUNCT emaj-17 163 68 , , PUNCT emaj-17 163 69 brazil brazil PROPN emaj-17 163 70 ( ( PUNCT emaj-17 163 71 37.5 37.5 NUM emaj-17 163 72 ) ) PUNCT emaj-17 163 73 , , PUNCT emaj-17 163 74 argentina argentina PROPN emaj-17 163 75 ( ( PUNCT emaj-17 163 76 35.00 35.00 NUM emaj-17 163 77 ) ) PUNCT emaj-17 163 78 , , PUNCT emaj-17 163 79 china china PROPN emaj-17 163 80 ( ( PUNCT emaj-17 163 81 25.83 25.83 NUM emaj-17 163 82 ) ) PUNCT emaj-17 163 83 , , PUNCT emaj-17 163 84 kuwait kuwait PROPN emaj-17 163 85 ( ( PUNCT emaj-17 163 86 22.50 22.50 NUM emaj-17 163 87 ) ) PUNCT emaj-17 163 88 , , PUNCT emaj-17 163 89 and and CCONJ emaj-17 163 90 the the DET emaj-17 163 91 united united PROPN emaj-17 163 92 arab arab PROPN emaj-17 163 93 emirates emirates PROPN emaj-17 163 94 ( ( PUNCT emaj-17 163 95 20.83 20.83 NUM emaj-17 163 96 ) ) PUNCT emaj-17 163 97 . . PUNCT emaj-17 164 1 based base VERB emaj-17 164 2 on on ADP emaj-17 164 3 these these DET emaj-17 164 4 ratings rating NOUN emaj-17 164 5 , , PUNCT emaj-17 164 6 each each DET emaj-17 164 7 country country NOUN emaj-17 164 8 is be AUX emaj-17 164 9 ranked rank VERB emaj-17 164 10 with with ADP emaj-17 164 11 a a DET emaj-17 164 12 numerical numerical ADJ emaj-17 164 13 value value NOUN emaj-17 164 14 denoting denote VERB emaj-17 164 15 their their PRON emaj-17 164 16 level level NOUN emaj-17 164 17 of of ADP emaj-17 164 18 compliance compliance NOUN emaj-17 164 19 : : PUNCT emaj-17 164 20 high high ADJ emaj-17 164 21 , , PUNCT emaj-17 164 22 medium medium ADJ emaj-17 164 23 , , PUNCT emaj-17 164 24 low low ADJ emaj-17 164 25 , , PUNCT emaj-17 164 26 or or CCONJ emaj-17 164 27 very very ADV emaj-17 164 28 low low ADJ emaj-17 164 29 compliance compliance NOUN emaj-17 164 30 . . PUNCT emaj-17 165 1 the the DET emaj-17 165 2 only only ADJ emaj-17 165 3 profiled profile VERB emaj-17 165 4 country country NOUN emaj-17 165 5 acquiring acquire VERB emaj-17 165 6 a a DET emaj-17 165 7 high high ADJ emaj-17 165 8 compliance compliance NOUN emaj-17 165 9 rating rating NOUN emaj-17 165 10 in in ADP emaj-17 165 11 this this DET emaj-17 165 12 study study NOUN emaj-17 165 13 was be AUX emaj-17 165 14 hungary hungary PROPN emaj-17 165 15 . . PUNCT emaj-17 166 1 countries country NOUN emaj-17 166 2 acquiring acquire VERB emaj-17 166 3 medium medium ADJ emaj-17 166 4 compliance compliance NOUN emaj-17 166 5 include include VERB emaj-17 166 6 : : PUNCT emaj-17 166 7 india india PROPN emaj-17 166 8 , , PUNCT emaj-17 166 9 chile chile PROPN emaj-17 166 10 , , PUNCT emaj-17 166 11 mexico mexico PROPN emaj-17 166 12 , , PUNCT emaj-17 166 13 thailand thailand PROPN emaj-17 166 14 , , PUNCT emaj-17 166 15 turkey turkey PROPN emaj-17 166 16 , , PUNCT emaj-17 166 17 malaysia malaysia PROPN emaj-17 166 18 , , PUNCT emaj-17 166 19 indonesia indonesia PROPN emaj-17 166 20 , , PUNCT emaj-17 166 21 and and CCONJ emaj-17 166 22 russia russia PROPN emaj-17 166 23 . . PUNCT emaj-17 167 1 low low ADJ emaj-17 167 2 compliance compliance NOUN emaj-17 167 3 countries country NOUN emaj-17 167 4 included include VERB emaj-17 167 5 the the DET emaj-17 167 6 remaining remain VERB emaj-17 167 7 countries country NOUN emaj-17 167 8 : : PUNCT emaj-17 167 9 brazil brazil PROPN emaj-17 167 10 , , PUNCT emaj-17 167 11 argentina argentina PROPN emaj-17 167 12 , , PUNCT emaj-17 167 13 china china PROPN emaj-17 167 14 , , PUNCT emaj-17 167 15 kuwait kuwait PROPN emaj-17 167 16 and and CCONJ emaj-17 167 17 the the DET emaj-17 167 18 united united PROPN emaj-17 167 19 arab arab PROPN emaj-17 167 20 emirates emirates PROPN emaj-17 167 21 . . PUNCT emaj-17 168 1 see see VERB emaj-17 168 2 table table NOUN emaj-17 168 3 i i PRON emaj-17 168 4 below below ADV emaj-17 168 5 . . PUNCT emaj-17 169 1 the the DET emaj-17 169 2 cpi cpi PROPN emaj-17 169 3 scores score NOUN emaj-17 169 4 for for ADP emaj-17 169 5 the the DET emaj-17 169 6 profiled profile VERB emaj-17 169 7 rdes rde NOUN emaj-17 169 8 from from ADP emaj-17 169 9 least least ADJ emaj-17 169 10 corruption corruption NOUN emaj-17 169 11 to to ADP emaj-17 169 12 most most ADJ emaj-17 169 13 corruption corruption NOUN emaj-17 169 14 based base VERB emaj-17 169 15 on on ADP emaj-17 169 16 a a DET emaj-17 169 17 scale scale NOUN emaj-17 169 18 from from ADP emaj-17 169 19 1 1 NUM emaj-17 169 20 - - SYM emaj-17 169 21 10 10 NUM emaj-17 169 22 as as SCONJ emaj-17 169 23 reported report VERB emaj-17 169 24 by by ADP emaj-17 169 25 transparency transparency NOUN emaj-17 169 26 international international PROPN emaj-17 169 27 ( ( PUNCT emaj-17 169 28 2009 2009 NUM emaj-17 169 29 ) ) PUNCT emaj-17 169 30 are be AUX emaj-17 169 31 : : PUNCT emaj-17 169 32 chile chile NOUN emaj-17 169 33 ( ( PUNCT emaj-17 169 34 6.7 6.7 NUM emaj-17 169 35 ) ) PUNCT emaj-17 169 36 , , PUNCT emaj-17 169 37 united united PROPN emaj-17 169 38 arab arab PROPN emaj-17 169 39 emirates emirates PROPN emaj-17 169 40 ( ( PUNCT emaj-17 169 41 6.5 6.5 NUM emaj-17 169 42 ) ) PUNCT emaj-17 169 43 , , PUNCT emaj-17 169 44 hungary hungary PROPN emaj-17 169 45 ( ( PUNCT emaj-17 169 46 5.1 5.1 NUM emaj-17 169 47 ) ) PUNCT emaj-17 169 48 , , PUNCT emaj-17 169 49 malaysia malaysia PROPN emaj-17 169 50 ( ( PUNCT emaj-17 169 51 4.5 4.5 NUM emaj-17 169 52 ) ) PUNCT emaj-17 169 53 , , PUNCT emaj-17 169 54 turkey turkey NOUN emaj-17 169 55 ( ( PUNCT emaj-17 169 56 4.4 4.4 NUM emaj-17 169 57 ) ) PUNCT emaj-17 169 58 , , PUNCT emaj-17 169 59 kuwait kuwait PROPN emaj-17 169 60 ( ( PUNCT emaj-17 169 61 4.1 4.1 NUM emaj-17 169 62 ) ) PUNCT emaj-17 169 63 , , PUNCT emaj-17 169 64 brazil brazil PROPN emaj-17 169 65 ( ( PUNCT emaj-17 169 66 3.7 3.7 NUM emaj-17 169 67 ) ) PUNCT emaj-17 169 68 , , PUNCT emaj-17 169 69 china china PROPN emaj-17 169 70 ( ( PUNCT emaj-17 169 71 3.6 3.6 NUM emaj-17 169 72 ) ) PUNCT emaj-17 169 73 , , PUNCT emaj-17 169 74 india india PROPN emaj-17 169 75 ( ( PUNCT emaj-17 169 76 3.4 3.4 NUM emaj-17 169 77 ) ) PUNCT emaj-17 169 78 , , PUNCT emaj-17 169 79 thailand thailand PROPN emaj-17 169 80 ( ( PUNCT emaj-17 169 81 3.4 3.4 NUM emaj-17 169 82 ) ) PUNCT emaj-17 169 83 , , PUNCT emaj-17 169 84 mexico mexico PROPN emaj-17 169 85 ( ( PUNCT emaj-17 169 86 3.3 3.3 NUM emaj-17 169 87 ) ) PUNCT emaj-17 169 88 , , PUNCT emaj-17 169 89 argentina argentina PROPN emaj-17 169 90 ( ( PUNCT emaj-17 169 91 2.9 2.9 NUM emaj-17 169 92 ) ) PUNCT emaj-17 169 93 , , PUNCT emaj-17 169 94 indonesia indonesia PROPN emaj-17 169 95 ( ( PUNCT emaj-17 169 96 2.8 2.8 NUM emaj-17 169 97 ) ) PUNCT emaj-17 169 98 , , PUNCT emaj-17 169 99 and and CCONJ emaj-17 169 100 russia russia PROPN emaj-17 169 101 ( ( PUNCT emaj-17 169 102 2.2 2.2 NUM emaj-17 169 103 ) ) PUNCT emaj-17 169 104 , , PUNCT emaj-17 169 105 as as SCONJ emaj-17 169 106 shown show VERB emaj-17 169 107 on on ADP emaj-17 169 108 table table NOUN emaj-17 169 109 i i PRON emaj-17 169 110 below below ADV emaj-17 169 111 . . PUNCT emaj-17 170 1 table table NOUN emaj-17 170 2 1 1 NUM emaj-17 170 3 : : PUNCT emaj-17 170 4 compliance compliance NOUN emaj-17 170 5 and and CCONJ emaj-17 170 6 corruption corruption NOUN emaj-17 170 7 data datum NOUN emaj-17 170 8 for for ADP emaj-17 170 9 rdes rde NOUN emaj-17 170 10 the the DET emaj-17 170 11 influence influence NOUN emaj-17 170 12 of of ADP emaj-17 170 13 corruption corruption NOUN emaj-17 170 14 on on ADP emaj-17 170 15 corporate corporate ADJ emaj-17 170 16 governance governance NOUN emaj-17 170 17 standards standard NOUN emaj-17 170 18 : : PUNCT emaj-17 170 19 shared share VERB emaj-17 170 20 characteristics characteristic NOUN emaj-17 170 21 of of ADP emaj-17 170 22 rapidly rapidly ADV emaj-17 170 23 developing develop VERB emaj-17 170 24 economies economy NOUN emaj-17 170 25 emerging emerge VERB emaj-17 170 26 markets market NOUN emaj-17 170 27 journal journal NOUN emaj-17 171 1 | | ADV emaj-17 171 2 p p NOUN emaj-17 172 1 a a DET emaj-17 172 2 g g NOUN emaj-17 172 3 e e PROPN emaj-17 172 4 | | ADV emaj-17 172 5 28 28 NUM emaj-17 172 6 volume volume NOUN emaj-17 172 7 2 2 NUM emaj-17 172 8 ( ( PUNCT emaj-17 172 9 2012 2012 NUM emaj-17 172 10 ) ) PUNCT emaj-17 172 11 | | ADV emaj-17 172 12 issn issn VERB emaj-17 172 13 2158 2158 NUM emaj-17 172 14 - - SYM emaj-17 172 15 8708 8708 NUM emaj-17 172 16 ( ( PUNCT emaj-17 172 17 online online NOUN emaj-17 172 18 ) ) PUNCT emaj-17 173 1 | | ADV emaj-17 173 2 doi doi X emaj-17 173 3 10.5195 10.5195 NUM emaj-17 173 4 / / SYM emaj-17 173 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 173 6 | | NOUN emaj-17 173 7 http://emaj.pitt.edu http://emaj.pitt.edu PROPN emaj-17 173 8 rde rde PROPN emaj-17 173 9 compliance compliance NOUN emaj-17 173 10 level level NOUN emaj-17 173 11 standards standard NOUN emaj-17 173 12 compliance compliance NOUN emaj-17 173 13 index index NOUN emaj-17 173 14 global global ADJ emaj-17 173 15 compliance compliance NOUN emaj-17 173 16 ranking rank VERB emaj-17 173 17 cpi cpi PROPN emaj-17 173 18 ifdi ifdi ADJ emaj-17 173 19 usd usd NOUN emaj-17 173 20 billion billion NUM emaj-17 173 21 unctad unctad NOUN emaj-17 173 22 argentina argentina PROPN emaj-17 173 23 enacted enact VERB emaj-17 173 24 35 35 NUM emaj-17 173 25 61 61 NUM emaj-17 173 26 2.9 2.9 NUM emaj-17 173 27 4.90 4.90 NUM emaj-17 173 28 brazil brazil PROPN emaj-17 173 29 intent intent NOUN emaj-17 173 30 declared declare VERB emaj-17 173 31 37.5 37.5 NUM emaj-17 173 32 55 55 NUM emaj-17 173 33 3.7 3.7 NUM emaj-17 173 34 25.95 25.95 NUM emaj-17 173 35 chile chile NOUN emaj-17 173 36 enacted enact VERB emaj-17 173 37 54.17 54.17 NUM emaj-17 173 38 27 27 NUM emaj-17 173 39 6.7 6.7 NUM emaj-17 173 40 12.70 12.70 NUM emaj-17 173 41 china china PROPN emaj-17 173 42 intent intent NOUN emaj-17 173 43 declared declare VERB emaj-17 173 44 25.83 25.83 NUM emaj-17 173 45 70 70 NUM emaj-17 173 46 3.6 3.6 NUM emaj-17 173 47 95.00 95.00 NUM emaj-17 173 48 hungary hungary NOUN emaj-17 173 49 enacted enact VERB emaj-17 173 50 60.83 60.83 NUM emaj-17 173 51 11 11 NUM emaj-17 173 52 5.1 5.1 NUM emaj-17 173 53 -5.58 -5.58 NUM emaj-17 173 54 india india PROPN emaj-17 173 55 enacted enact VERB emaj-17 173 56 58.33 58.33 NUM emaj-17 173 57 18 18 NUM emaj-17 173 58 3.4 3.4 NUM emaj-17 173 59 34.61 34.61 NUM emaj-17 173 60 indonesia indonesia PROPN emaj-17 173 61 enacted enact VERB emaj-17 173 62 43.33 43.33 NUM emaj-17 173 63 48 48 NUM emaj-17 173 64 2.8 2.8 NUM emaj-17 173 65 4.88 4.88 NUM emaj-17 173 66 kuwait kuwait PROPN emaj-17 173 67 insufficient insufficient ADJ emaj-17 173 68 info info NOUN emaj-17 173 69 . . PUNCT emaj-17 174 1 22.5 22.5 NUM emaj-17 174 2 73 73 NUM emaj-17 174 3 4.1 4.1 NUM emaj-17 174 4 0.15 0.15 NUM emaj-17 174 5 malaysia malaysia NOUN emaj-17 174 6 enacted enact VERB emaj-17 174 7 46.67 46.67 NUM emaj-17 174 8 43 43 NUM emaj-17 174 9 4.5 4.5 NUM emaj-17 174 10 1.38 1.38 NUM emaj-17 174 11 mexico mexico NOUN emaj-17 174 12 enacted enact VERB emaj-17 174 13 53.33 53.33 NUM emaj-17 174 14 28 28 NUM emaj-17 174 15 3.3 3.3 NUM emaj-17 174 16 12.52 12.52 NUM emaj-17 174 17 russia russia NOUN emaj-17 174 18 enacted enact VERB emaj-17 174 19 42.50 42.50 NUM emaj-17 174 20 49 49 NUM emaj-17 174 21 2.2 2.2 NUM emaj-17 174 22 38.72 38.72 NUM emaj-17 174 23 thailand thailand NOUN emaj-17 174 24 enacted enact VERB emaj-17 174 25 50.83 50.83 NUM emaj-17 174 26 34 34 NUM emaj-17 174 27 3.4 3.4 NUM emaj-17 174 28 5.95 5.95 NUM emaj-17 174 29 turkey turkey NOUN emaj-17 174 30 enacted enact VERB emaj-17 174 31 48.33 48.33 NUM emaj-17 174 32 40 40 NUM emaj-17 174 33 4.5 4.5 NUM emaj-17 174 34 7.61 7.61 NUM emaj-17 174 35 u.a.e u.a.e NOUN emaj-17 174 36 . . PUNCT emaj-17 175 1 intent intent PROPN emaj-17 175 2 declared declare VERB emaj-17 175 3 20.83 20.83 NUM emaj-17 175 4 78 78 NUM emaj-17 175 5 6.5 6.5 NUM emaj-17 175 6 4.00 4.00 NUM emaj-17 175 7 this this DET emaj-17 175 8 table table NOUN emaj-17 175 9 depicts depict VERB emaj-17 175 10 the the DET emaj-17 175 11 level level NOUN emaj-17 175 12 of of ADP emaj-17 175 13 compliance compliance NOUN emaj-17 175 14 , , PUNCT emaj-17 175 15 the the DET emaj-17 175 16 standards standard NOUN emaj-17 175 17 compliance compliance NOUN emaj-17 175 18 index index NOUN emaj-17 175 19 rating rating NOUN emaj-17 175 20 1/100 1/100 NUM emaj-17 175 21 , , PUNCT emaj-17 176 1 global global ADJ emaj-17 176 2 compliance compliance NOUN emaj-17 176 3 ranking ranking NOUN emaj-17 176 4 , , PUNCT emaj-17 176 5 cpi cpi NOUN emaj-17 176 6 for for ADP emaj-17 176 7 2009 2009 NUM emaj-17 176 8 , , PUNCT emaj-17 176 9 and and CCONJ emaj-17 176 10 inward inward ADP emaj-17 176 11 foreign foreign ADJ emaj-17 176 12 direct direct ADJ emaj-17 176 13 investment investment NOUN emaj-17 176 14 for for ADP emaj-17 176 15 2009 2009 NUM emaj-17 176 16 in in ADP emaj-17 176 17 billions billion NOUN emaj-17 176 18 of of ADP emaj-17 176 19 u.s u.s PROPN emaj-17 176 20 . . PROPN emaj-17 176 21 dollars dollar NOUN emaj-17 176 22 . . PUNCT emaj-17 177 1 an an DET emaj-17 177 2 important important ADJ emaj-17 177 3 goal goal NOUN emaj-17 177 4 of of ADP emaj-17 177 5 this this DET emaj-17 177 6 study study NOUN emaj-17 177 7 is be AUX emaj-17 177 8 to to PART emaj-17 177 9 measure measure VERB emaj-17 177 10 the the DET emaj-17 177 11 influence influence NOUN emaj-17 177 12 of of ADP emaj-17 177 13 corruption corruption NOUN emaj-17 177 14 on on ADP emaj-17 177 15 the the DET emaj-17 177 16 level level NOUN emaj-17 177 17 of of ADP emaj-17 177 18 compliance compliance NOUN emaj-17 177 19 with with ADP emaj-17 177 20 the the DET emaj-17 177 21 standards standard NOUN emaj-17 177 22 . . PUNCT emaj-17 178 1 each each DET emaj-17 178 2 country country NOUN emaj-17 178 3 was be AUX emaj-17 178 4 plotted plot VERB emaj-17 178 5 on on ADP emaj-17 178 6 the the DET emaj-17 178 7 following follow VERB emaj-17 178 8 matrix matrix NOUN emaj-17 178 9 as as ADP emaj-17 178 10 a a DET emaj-17 178 11 result result NOUN emaj-17 178 12 of of ADP emaj-17 178 13 their their PRON emaj-17 178 14 standards standard NOUN emaj-17 178 15 compliance compliance NOUN emaj-17 178 16 index index NOUN emaj-17 178 17 rating rating NOUN emaj-17 178 18 ( ( PUNCT emaj-17 178 19 estandards estandard NOUN emaj-17 178 20 , , PUNCT emaj-17 178 21 2010 2010 NUM emaj-17 178 22 ) ) PUNCT emaj-17 178 23 and and CCONJ emaj-17 178 24 the the DET emaj-17 178 25 cpi cpi PROPN emaj-17 178 26 score score NOUN emaj-17 178 27 ( ( PUNCT emaj-17 178 28 transparency transparency NOUN emaj-17 178 29 international international NOUN emaj-17 178 30 , , PUNCT emaj-17 178 31 2009 2009 NUM emaj-17 178 32 ) ) PUNCT emaj-17 178 33 . . PUNCT emaj-17 179 1 this this DET emaj-17 179 2 places place VERB emaj-17 179 3 each each DET emaj-17 179 4 country country NOUN emaj-17 179 5 in in ADP emaj-17 179 6 one one NUM emaj-17 179 7 of of ADP emaj-17 179 8 four four NUM emaj-17 179 9 quadrants quadrant NOUN emaj-17 179 10 in in ADP emaj-17 179 11 which which PRON emaj-17 179 12 comparisons comparison NOUN emaj-17 179 13 and and CCONJ emaj-17 179 14 similarities similarity NOUN emaj-17 179 15 may may AUX emaj-17 179 16 be be AUX emaj-17 179 17 drawn draw VERB emaj-17 179 18 . . PUNCT emaj-17 180 1 the the DET emaj-17 180 2 most most ADV emaj-17 180 3 desirable desirable ADJ emaj-17 180 4 quadrant quadrant NOUN emaj-17 180 5 to to PART emaj-17 180 6 attain attain VERB emaj-17 180 7 is be AUX emaj-17 180 8 quadrant quadrant ADJ emaj-17 180 9 4 4 NUM emaj-17 180 10 , , PUNCT emaj-17 180 11 held hold VERB emaj-17 180 12 by by ADP emaj-17 180 13 chile chile PROPN emaj-17 180 14 . . PUNCT emaj-17 181 1 this this DET emaj-17 181 2 quadrant quadrant NOUN emaj-17 181 3 represents represent VERB emaj-17 181 4 the the DET emaj-17 181 5 most most ADJ emaj-17 181 6 compliance compliance NOUN emaj-17 181 7 with with ADP emaj-17 181 8 corporate corporate ADJ emaj-17 181 9 governance governance NOUN emaj-17 181 10 standards standard NOUN emaj-17 181 11 and and CCONJ emaj-17 181 12 the the DET emaj-17 181 13 least least ADJ emaj-17 181 14 corruption corruption NOUN emaj-17 181 15 . . PUNCT emaj-17 182 1 see see VERB emaj-17 182 2 figure figure NOUN emaj-17 182 3 i i PRON emaj-17 182 4 below below ADV emaj-17 182 5 . . PUNCT emaj-17 183 1 figure figure VERB emaj-17 183 2 i i PRON emaj-17 183 3 : : PUNCT emaj-17 183 4 conceptual conceptual ADJ emaj-17 183 5 matrix matrix NOUN emaj-17 183 6 of of ADP emaj-17 183 7 the the DET emaj-17 183 8 influence influence NOUN emaj-17 183 9 of of ADP emaj-17 183 10 corruption corruption NOUN emaj-17 183 11 on on ADP emaj-17 183 12 corporate corporate ADJ emaj-17 183 13 governance governance NOUN emaj-17 183 14 standards standard NOUN emaj-17 183 15 compliance compliance VERB emaj-17 183 16 the the DET emaj-17 183 17 influence influence NOUN emaj-17 183 18 of of ADP emaj-17 183 19 corruption corruption NOUN emaj-17 183 20 on on ADP emaj-17 183 21 corporate corporate ADJ emaj-17 183 22 governance governance NOUN emaj-17 183 23 standards standard NOUN emaj-17 183 24 : : PUNCT emaj-17 183 25 shared share VERB emaj-17 183 26 characteristics characteristic NOUN emaj-17 183 27 of of ADP emaj-17 183 28 rapidly rapidly ADV emaj-17 183 29 developing develop VERB emaj-17 183 30 economies economy NOUN emaj-17 183 31 emerging emerge VERB emaj-17 183 32 markets market NOUN emaj-17 183 33 journal journal NOUN emaj-17 184 1 | | ADV emaj-17 184 2 p p NOUN emaj-17 184 3 a a DET emaj-17 184 4 g g NOUN emaj-17 184 5 e e NOUN emaj-17 184 6 | | ADV emaj-17 184 7 29 29 NUM emaj-17 184 8 volume volume NOUN emaj-17 184 9 2 2 NUM emaj-17 184 10 ( ( PUNCT emaj-17 184 11 2012 2012 NUM emaj-17 184 12 ) ) PUNCT emaj-17 184 13 | | ADV emaj-17 184 14 issn issn VERB emaj-17 184 15 2158 2158 NUM emaj-17 184 16 - - SYM emaj-17 184 17 8708 8708 NUM emaj-17 184 18 ( ( PUNCT emaj-17 184 19 online online NOUN emaj-17 184 20 ) ) PUNCT emaj-17 184 21 | | ADV emaj-17 184 22 doi doi X emaj-17 184 23 10.5195 10.5195 NUM emaj-17 184 24 / / SYM emaj-17 184 25 emaj.2012.17 emaj.2012.17 NOUN emaj-17 185 1 | | ADV emaj-17 185 2 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 185 3 this this DET emaj-17 185 4 matrix matrix NOUN emaj-17 185 5 depicts depict VERB emaj-17 185 6 the the DET emaj-17 185 7 level level NOUN emaj-17 185 8 of of ADP emaj-17 185 9 corruption corruption NOUN emaj-17 185 10 ( ( PUNCT emaj-17 185 11 y y NOUN emaj-17 185 12 axis axis PROPN emaj-17 185 13 ) ) PUNCT emaj-17 185 14 and and CCONJ emaj-17 185 15 compliance compliance NOUN emaj-17 185 16 with with ADP emaj-17 185 17 corporate corporate ADJ emaj-17 185 18 governance governance NOUN emaj-17 185 19 standards(x standards(x NOUN emaj-17 185 20 axis axis NOUN emaj-17 185 21 ) ) PUNCT emaj-17 185 22 . . PUNCT emaj-17 186 1 the the DET emaj-17 186 2 most most ADV emaj-17 186 3 desirable desirable ADJ emaj-17 186 4 quadrant quadrant NOUN emaj-17 186 5 would would AUX emaj-17 186 6 be be AUX emaj-17 186 7 number number NOUN emaj-17 186 8 4 4 NUM emaj-17 186 9 as as SCONJ emaj-17 186 10 it it PRON emaj-17 186 11 represents represent VERB emaj-17 186 12 the the DET emaj-17 186 13 most most ADJ emaj-17 186 14 compliance compliance NOUN emaj-17 186 15 and and CCONJ emaj-17 186 16 least least ADJ emaj-17 186 17 corruption corruption NOUN emaj-17 186 18 . . PUNCT emaj-17 187 1 on on ADP emaj-17 187 2 the the DET emaj-17 187 3 other other ADJ emaj-17 187 4 hand hand NOUN emaj-17 187 5 , , PUNCT emaj-17 187 6 the the DET emaj-17 187 7 least least ADJ emaj-17 187 8 desirable desirable ADJ emaj-17 187 9 quadrant quadrant NOUN emaj-17 187 10 is be AUX emaj-17 187 11 number number NOUN emaj-17 187 12 1 1 NUM emaj-17 187 13 as as SCONJ emaj-17 187 14 it it PRON emaj-17 187 15 represents represent VERB emaj-17 187 16 the the DET emaj-17 187 17 least least ADJ emaj-17 187 18 compliance compliance NOUN emaj-17 187 19 and and CCONJ emaj-17 187 20 most most ADJ emaj-17 187 21 corruption corruption NOUN emaj-17 187 22 . . PUNCT emaj-17 188 1 quadrant quadrant ADJ emaj-17 188 2 1 1 NUM emaj-17 188 3 this this DET emaj-17 188 4 quadrant quadrant NOUN emaj-17 188 5 is be AUX emaj-17 188 6 characterized characterize VERB emaj-17 188 7 by by ADP emaj-17 188 8 having have VERB emaj-17 188 9 the the DET emaj-17 188 10 most most ADJ emaj-17 188 11 corruption corruption NOUN emaj-17 188 12 and and CCONJ emaj-17 188 13 the the DET emaj-17 188 14 least least ADJ emaj-17 188 15 compliance compliance NOUN emaj-17 188 16 with with ADP emaj-17 188 17 global global ADJ emaj-17 188 18 standards standard NOUN emaj-17 188 19 and and CCONJ emaj-17 188 20 codes code NOUN emaj-17 188 21 with with ADP emaj-17 188 22 regard regard NOUN emaj-17 188 23 to to ADP emaj-17 188 24 corporate corporate ADJ emaj-17 188 25 governance governance NOUN emaj-17 188 26 thus thus ADV emaj-17 188 27 making make VERB emaj-17 188 28 it it PRON emaj-17 188 29 the the DET emaj-17 188 30 least least ADJ emaj-17 188 31 desirable desirable ADJ emaj-17 188 32 quadrant quadrant NOUN emaj-17 188 33 to to PART emaj-17 188 34 be be AUX emaj-17 188 35 placed place VERB emaj-17 188 36 in in ADP emaj-17 188 37 . . PUNCT emaj-17 189 1 as as SCONJ emaj-17 189 2 illustrated illustrate VERB emaj-17 189 3 in in ADP emaj-17 189 4 the the DET emaj-17 189 5 above above ADJ emaj-17 189 6 matrix matrix NOUN emaj-17 189 7 , , PUNCT emaj-17 189 8 both both CCONJ emaj-17 189 9 china china PROPN emaj-17 189 10 and and CCONJ emaj-17 189 11 kuwait kuwait PROPN emaj-17 189 12 are be AUX emaj-17 189 13 in in ADP emaj-17 189 14 quadrant quadrant ADJ emaj-17 189 15 1 1 NUM emaj-17 189 16 . . PUNCT emaj-17 190 1 china china PROPN emaj-17 190 2 holds hold VERB emaj-17 190 3 “ " PUNCT emaj-17 190 4 intent intent NOUN emaj-17 190 5 declared declare VERB emaj-17 190 6 ” " PUNCT emaj-17 190 7 status status NOUN emaj-17 190 8 and and CCONJ emaj-17 190 9 kuwait kuwait PROPN emaj-17 190 10 holds hold VERB emaj-17 190 11 “ " PUNCT emaj-17 190 12 insufficient insufficient ADJ emaj-17 190 13 information information NOUN emaj-17 190 14 ” " PUNCT emaj-17 190 15 status status NOUN emaj-17 190 16 . . PUNCT emaj-17 191 1 both both DET emaj-17 191 2 countries country NOUN emaj-17 191 3 have have VERB emaj-17 191 4 low low ADJ emaj-17 191 5 compliance compliance NOUN emaj-17 191 6 ratings rating NOUN emaj-17 191 7 . . PUNCT emaj-17 192 1 in in ADP emaj-17 192 2 china china PROPN emaj-17 192 3 , , PUNCT emaj-17 192 4 a a DET emaj-17 192 5 system system NOUN emaj-17 192 6 of of ADP emaj-17 192 7 corporate corporate ADJ emaj-17 192 8 governance governance NOUN emaj-17 192 9 has have AUX emaj-17 192 10 emerged emerge VERB emaj-17 192 11 as as ADP emaj-17 192 12 a a DET emaj-17 192 13 result result NOUN emaj-17 192 14 of of ADP emaj-17 192 15 enterprise enterprise NOUN emaj-17 192 16 , , PUNCT emaj-17 192 17 legal legal ADJ emaj-17 192 18 , , PUNCT emaj-17 192 19 institutional institutional ADJ emaj-17 192 20 and and CCONJ emaj-17 192 21 regulatory regulatory ADJ emaj-17 192 22 reforms reform NOUN emaj-17 192 23 . . PUNCT emaj-17 193 1 in in ADP emaj-17 193 2 january january PROPN emaj-17 193 3 2001 2001 NUM emaj-17 193 4 , , PUNCT emaj-17 193 5 the the DET emaj-17 193 6 china china PROPN emaj-17 193 7 securities securities PROPN emaj-17 193 8 regulatory regulatory PROPN emaj-17 193 9 commission commission PROPN emaj-17 193 10 ( ( PUNCT emaj-17 193 11 csrc csrc PROPN emaj-17 193 12 ) ) PUNCT emaj-17 193 13 issued issue VERB emaj-17 193 14 the the DET emaj-17 193 15 code code NOUN emaj-17 193 16 of of ADP emaj-17 193 17 corporate corporate ADJ emaj-17 193 18 governance governance NOUN emaj-17 193 19 for for ADP emaj-17 193 20 listed list VERB emaj-17 193 21 companies company NOUN emaj-17 193 22 in in ADP emaj-17 193 23 china china PROPN emaj-17 193 24 . . PUNCT emaj-17 194 1 based base VERB emaj-17 194 2 on on ADP emaj-17 194 3 the the DET emaj-17 194 4 " " PUNCT emaj-17 194 5 comply comply NOUN emaj-17 194 6 or or CCONJ emaj-17 194 7 explain explain VERB emaj-17 194 8 " " PUNCT emaj-17 194 9 principle principle NOUN emaj-17 194 10 , , PUNCT emaj-17 194 11 the the DET emaj-17 194 12 code code NOUN emaj-17 194 13 has have AUX emaj-17 194 14 “ " PUNCT emaj-17 194 15 strictly strictly ADV emaj-17 194 16 followed follow VERB emaj-17 194 17 ” " PUNCT emaj-17 194 18 the the DET emaj-17 194 19 organization organization NOUN emaj-17 194 20 for for ADP emaj-17 194 21 economic economic ADJ emaj-17 194 22 cooperation cooperation NOUN emaj-17 194 23 and and CCONJ emaj-17 194 24 development development NOUN emaj-17 194 25 principles principle NOUN emaj-17 194 26 of of ADP emaj-17 194 27 corporate corporate ADJ emaj-17 194 28 governance governance NOUN emaj-17 194 29 . . PUNCT emaj-17 195 1 revisions revision NOUN emaj-17 195 2 to to ADP emaj-17 195 3 the the DET emaj-17 195 4 company company NOUN emaj-17 195 5 law law NOUN emaj-17 195 6 and and CCONJ emaj-17 195 7 securities security NOUN emaj-17 195 8 law law NOUN emaj-17 195 9 in in ADP emaj-17 195 10 2006 2006 NUM emaj-17 195 11 have have AUX emaj-17 195 12 also also ADV emaj-17 195 13 strengthened strengthen VERB emaj-17 195 14 minority minority NOUN emaj-17 195 15 shareholder shareholder NOUN emaj-17 195 16 rights right NOUN emaj-17 195 17 and and CCONJ emaj-17 195 18 disclosure disclosure NOUN emaj-17 195 19 requirements requirement NOUN emaj-17 195 20 for for ADP emaj-17 195 21 listed list VERB emaj-17 195 22 firms firm NOUN emaj-17 195 23 . . PUNCT emaj-17 196 1 the the DET emaj-17 196 2 publication publication NOUN emaj-17 196 3 of of ADP emaj-17 196 4 the the DET emaj-17 196 5 basic basic ADJ emaj-17 196 6 standard standard NOUN emaj-17 196 7 for for ADP emaj-17 196 8 enterprise enterprise NOUN emaj-17 196 9 internal internal ADJ emaj-17 196 10 control control NOUN emaj-17 196 11 in in ADP emaj-17 196 12 2008 2008 NUM emaj-17 196 13 , , PUNCT emaj-17 196 14 to to PART emaj-17 196 15 be be AUX emaj-17 196 16 implemented implement VERB emaj-17 196 17 over over ADP emaj-17 196 18 time time NOUN emaj-17 196 19 , , PUNCT emaj-17 196 20 signals signal VERB emaj-17 196 21 another another DET emaj-17 196 22 important important ADJ emaj-17 196 23 step step NOUN emaj-17 196 24 towards towards ADP emaj-17 196 25 enhancing enhance VERB emaj-17 196 26 corporate corporate ADJ emaj-17 196 27 governance governance NOUN emaj-17 196 28 . . PUNCT emaj-17 197 1 however however ADV emaj-17 197 2 , , PUNCT emaj-17 197 3 highly highly ADV emaj-17 197 4 concentrated concentrated ADJ emaj-17 197 5 ownership ownership NOUN emaj-17 197 6 structure structure NOUN emaj-17 197 7 , , PUNCT emaj-17 197 8 the the DET emaj-17 197 9 dominance dominance NOUN emaj-17 197 10 of of ADP emaj-17 197 11 state state NOUN emaj-17 197 12 - - PUNCT emaj-17 197 13 owned own VERB emaj-17 197 14 enterprises enterprise NOUN emaj-17 197 15 , , PUNCT emaj-17 197 16 and and CCONJ emaj-17 197 17 the the DET emaj-17 197 18 resulting result VERB emaj-17 197 19 weak weak ADJ emaj-17 197 20 minority minority NOUN emaj-17 197 21 shareholder shareholder NOUN emaj-17 197 22 protection protection NOUN emaj-17 197 23 remain remain VERB emaj-17 197 24 as as SCONJ emaj-17 197 25 major major ADJ emaj-17 197 26 obstacles obstacle NOUN emaj-17 197 27 to to PART emaj-17 197 28 develop develop VERB emaj-17 197 29 a a DET emaj-17 197 30 corporate corporate ADJ emaj-17 197 31 governance governance NOUN emaj-17 197 32 culture culture NOUN emaj-17 197 33 in in ADP emaj-17 197 34 china china PROPN emaj-17 197 35 . . PUNCT emaj-17 198 1 lu lu PROPN emaj-17 198 2 et et PROPN emaj-17 198 3 al al PROPN emaj-17 198 4 . . PROPN emaj-17 198 5 also also ADV emaj-17 198 6 noted note VERB emaj-17 198 7 that that SCONJ emaj-17 198 8 the the DET emaj-17 198 9 gap gap NOUN emaj-17 198 10 between between ADP emaj-17 198 11 good good ADJ emaj-17 198 12 and and CCONJ emaj-17 198 13 poor poor ADJ emaj-17 198 14 corporate corporate ADJ emaj-17 198 15 governance governance NOUN emaj-17 198 16 among among ADP emaj-17 198 17 listed list VERB emaj-17 198 18 companies company NOUN emaj-17 198 19 is be AUX emaj-17 198 20 significant significant ADJ emaj-17 198 21 . . PUNCT emaj-17 199 1 various various ADJ emaj-17 199 2 recommendations recommendation NOUN emaj-17 199 3 are be AUX emaj-17 199 4 being be AUX emaj-17 199 5 put put VERB emaj-17 199 6 forth forth ADV emaj-17 199 7 to to PART emaj-17 199 8 improve improve VERB emaj-17 199 9 corporate corporate ADJ emaj-17 199 10 governance governance NOUN emaj-17 199 11 in in ADP emaj-17 199 12 china china PROPN emaj-17 199 13 , , PUNCT emaj-17 199 14 including include VERB emaj-17 199 15 speeding speed VERB emaj-17 199 16 up up ADP emaj-17 199 17 share share NOUN emaj-17 199 18 reform reform NOUN emaj-17 199 19 , , PUNCT emaj-17 199 20 shareholding shareholding NOUN emaj-17 199 21 diversification diversification NOUN emaj-17 199 22 , , PUNCT emaj-17 199 23 reducing reduce VERB emaj-17 199 24 government government NOUN emaj-17 199 25 intervention intervention NOUN emaj-17 199 26 in in ADP emaj-17 199 27 state state NOUN emaj-17 199 28 owned own VERB emaj-17 199 29 enterprises enterprise NOUN emaj-17 199 30 , , PUNCT emaj-17 199 31 improving improve VERB emaj-17 199 32 minority minority NOUN emaj-17 199 33 shareholder shareholder NOUN emaj-17 199 34 rights right NOUN emaj-17 199 35 , , PUNCT emaj-17 199 36 and and CCONJ emaj-17 199 37 enhancing enhance VERB emaj-17 199 38 board board NOUN emaj-17 199 39 structure structure NOUN emaj-17 199 40 and and CCONJ emaj-17 199 41 responsibility responsibility NOUN emaj-17 199 42 . . PUNCT emaj-17 200 1 ( ( PUNCT emaj-17 200 2 estandardsforum estandardsforum NOUN emaj-17 200 3 , , PUNCT emaj-17 200 4 2009 2009 NUM emaj-17 200 5 ) ) PUNCT emaj-17 200 6 according accord VERB emaj-17 200 7 to to ADP emaj-17 200 8 the the DET emaj-17 200 9 imf imf PROPN emaj-17 200 10 , , PUNCT emaj-17 200 11 kuwait kuwait PROPN emaj-17 200 12 needs need VERB emaj-17 200 13 to to PART emaj-17 200 14 address address VERB emaj-17 200 15 “ " PUNCT emaj-17 200 16 serious serious ADJ emaj-17 200 17 gaps gap NOUN emaj-17 200 18 ” " PUNCT emaj-17 200 19 with with ADP emaj-17 200 20 regard regard NOUN emaj-17 200 21 to to ADP emaj-17 200 22 corporate corporate ADJ emaj-17 200 23 governance governance NOUN emaj-17 200 24 principles principle NOUN emaj-17 200 25 ( ( PUNCT emaj-17 200 26 2004 2004 NUM emaj-17 200 27 ) ) PUNCT emaj-17 200 28 , , PUNCT emaj-17 200 29 therefore therefore ADV emaj-17 200 30 , , PUNCT emaj-17 200 31 this this DET emaj-17 200 32 country country NOUN emaj-17 200 33 has have AUX emaj-17 200 34 been be AUX emaj-17 200 35 identified identify VERB emaj-17 200 36 as as ADP emaj-17 200 37 having have VERB emaj-17 200 38 insufficient insufficient ADJ emaj-17 200 39 the the DET emaj-17 200 40 influence influence NOUN emaj-17 200 41 of of ADP emaj-17 200 42 corruption corruption NOUN emaj-17 200 43 on on ADP emaj-17 200 44 corporate corporate ADJ emaj-17 200 45 governance governance NOUN emaj-17 200 46 standards standard NOUN emaj-17 200 47 : : PUNCT emaj-17 200 48 shared share VERB emaj-17 200 49 characteristics characteristic NOUN emaj-17 200 50 of of ADP emaj-17 200 51 rapidly rapidly ADV emaj-17 200 52 developing develop VERB emaj-17 200 53 economies economy NOUN emaj-17 200 54 emerging emerge VERB emaj-17 200 55 markets market NOUN emaj-17 200 56 journal journal NOUN emaj-17 200 57 | | ADV emaj-17 200 58 p p NOUN emaj-17 200 59 a a DET emaj-17 200 60 g g NOUN emaj-17 200 61 e e NOUN emaj-17 200 62 | | ADV emaj-17 200 63 30 30 NUM emaj-17 200 64 volume volume NOUN emaj-17 200 65 2 2 NUM emaj-17 200 66 ( ( PUNCT emaj-17 200 67 2012 2012 NUM emaj-17 200 68 ) ) PUNCT emaj-17 200 69 | | ADV emaj-17 200 70 issn issn VERB emaj-17 200 71 2158 2158 NUM emaj-17 200 72 - - SYM emaj-17 200 73 8708 8708 NUM emaj-17 200 74 ( ( PUNCT emaj-17 200 75 online online NOUN emaj-17 200 76 ) ) PUNCT emaj-17 201 1 | | ADV emaj-17 201 2 doi doi X emaj-17 201 3 10.5195 10.5195 NUM emaj-17 201 4 / / SYM emaj-17 201 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 202 1 | | NOUN emaj-17 202 2 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 202 3 information information NOUN emaj-17 202 4 to to PART emaj-17 202 5 establish establish VERB emaj-17 202 6 compliance compliance NOUN emaj-17 202 7 with with ADP emaj-17 202 8 the the DET emaj-17 202 9 oecd oecd PROPN emaj-17 202 10 principles principle NOUN emaj-17 202 11 of of ADP emaj-17 202 12 corporate corporate ADJ emaj-17 202 13 governance governance NOUN emaj-17 202 14 . . PUNCT emaj-17 203 1 this this DET emaj-17 203 2 report report NOUN emaj-17 203 3 recommended recommend VERB emaj-17 203 4 “ " PUNCT emaj-17 203 5 strengthening strengthen VERB emaj-17 203 6 minority minority NOUN emaj-17 203 7 shareholders shareholder NOUN emaj-17 203 8 ’ ' PUNCT emaj-17 203 9 protection protection NOUN emaj-17 203 10 and and CCONJ emaj-17 203 11 raising raise VERB emaj-17 203 12 awareness awareness NOUN emaj-17 203 13 and and CCONJ emaj-17 203 14 understanding understanding NOUN emaj-17 203 15 of of ADP emaj-17 203 16 standards standard NOUN emaj-17 203 17 of of ADP emaj-17 203 18 disclosure disclosure NOUN emaj-17 203 19 , , PUNCT emaj-17 203 20 governance governance NOUN emaj-17 203 21 , , PUNCT emaj-17 203 22 the the DET emaj-17 203 23 liability liability NOUN emaj-17 203 24 of of ADP emaj-17 203 25 the the DET emaj-17 203 26 board board NOUN emaj-17 203 27 of of ADP emaj-17 203 28 directors director NOUN emaj-17 203 29 , , PUNCT emaj-17 203 30 and and CCONJ emaj-17 203 31 the the DET emaj-17 203 32 role role NOUN emaj-17 203 33 of of ADP emaj-17 203 34 auditors auditor NOUN emaj-17 203 35 ” " PUNCT emaj-17 203 36 ( ( PUNCT emaj-17 203 37 imf imf PROPN emaj-17 203 38 , , PUNCT emaj-17 203 39 2004 2004 NUM emaj-17 203 40 ) ) PUNCT emaj-17 203 41 . . PUNCT emaj-17 204 1 the the DET emaj-17 204 2 central central ADJ emaj-17 204 3 bank bank PROPN emaj-17 204 4 of of ADP emaj-17 204 5 kuwait kuwait PROPN emaj-17 204 6 ’s ’s PART emaj-17 204 7 listed list VERB emaj-17 204 8 firms firm NOUN emaj-17 204 9 has have AUX emaj-17 204 10 been be AUX emaj-17 204 11 acknowledged acknowledge VERB emaj-17 204 12 as as ADP emaj-17 204 13 having have VERB emaj-17 204 14 adequate adequate ADJ emaj-17 204 15 basic basic ADJ emaj-17 204 16 governance governance NOUN emaj-17 204 17 arrangements arrangement NOUN emaj-17 204 18 . . PUNCT emaj-17 205 1 the the DET emaj-17 205 2 assessment assessment NOUN emaj-17 205 3 also also ADV emaj-17 205 4 raised raise VERB emaj-17 205 5 the the DET emaj-17 205 6 possibility possibility NOUN emaj-17 205 7 of of ADP emaj-17 205 8 amending amend VERB emaj-17 205 9 the the DET emaj-17 205 10 commercial commercial ADJ emaj-17 205 11 companies company NOUN emaj-17 205 12 law law NOUN emaj-17 205 13 . . PUNCT emaj-17 206 1 ( ( PUNCT emaj-17 206 2 estandardsforum estandardsforum NOUN emaj-17 206 3 , , PUNCT emaj-17 206 4 2009 2009 NUM emaj-17 206 5 ) ) PUNCT emaj-17 206 6 quadrant quadrant NOUN emaj-17 206 7 2 2 NUM emaj-17 206 8 a a DET emaj-17 206 9 vast vast ADJ emaj-17 206 10 majority majority NOUN emaj-17 206 11 of of ADP emaj-17 206 12 the the DET emaj-17 206 13 rdes rde NOUN emaj-17 206 14 hold hold VERB emaj-17 206 15 quadrant quadrant ADJ emaj-17 206 16 2 2 NUM emaj-17 206 17 : : PUNCT emaj-17 206 18 argentina argentina PROPN emaj-17 206 19 , , PUNCT emaj-17 206 20 brazil brazil PROPN emaj-17 206 21 , , PUNCT emaj-17 206 22 russia russia PROPN emaj-17 206 23 , , PUNCT emaj-17 206 24 indonesia indonesia PROPN emaj-17 206 25 , , PUNCT emaj-17 206 26 india india PROPN emaj-17 206 27 , , PUNCT emaj-17 206 28 mexico mexico PROPN emaj-17 206 29 , , PUNCT emaj-17 206 30 turkey turkey PROPN emaj-17 206 31 , , PUNCT emaj-17 206 32 malaysia malaysia PROPN emaj-17 206 33 , , PUNCT emaj-17 206 34 hungary hungary PROPN emaj-17 206 35 , , PUNCT emaj-17 206 36 and and CCONJ emaj-17 206 37 thailand thailand PROPN emaj-17 206 38 . . PUNCT emaj-17 207 1 all all PRON emaj-17 207 2 of of ADP emaj-17 207 3 these these DET emaj-17 207 4 countries country NOUN emaj-17 207 5 have have VERB emaj-17 207 6 a a DET emaj-17 207 7 medium medium ADJ emaj-17 207 8 or or CCONJ emaj-17 207 9 low low ADJ emaj-17 207 10 compliance compliance NOUN emaj-17 207 11 rating rating NOUN emaj-17 207 12 . . PUNCT emaj-17 208 1 brazil brazil PROPN emaj-17 208 2 is be AUX emaj-17 208 3 the the DET emaj-17 208 4 only only ADJ emaj-17 208 5 country country NOUN emaj-17 208 6 with with ADP emaj-17 208 7 “ " PUNCT emaj-17 208 8 intent intent NOUN emaj-17 208 9 declared declare VERB emaj-17 208 10 ” " PUNCT emaj-17 208 11 status status NOUN emaj-17 208 12 , , PUNCT emaj-17 208 13 while while SCONJ emaj-17 208 14 all all DET emaj-17 208 15 others other NOUN emaj-17 208 16 have have AUX emaj-17 208 17 “ " PUNCT emaj-17 208 18 enacted enact VERB emaj-17 208 19 ” " PUNCT emaj-17 208 20 status status NOUN emaj-17 208 21 . . PUNCT emaj-17 209 1 having having AUX emaj-17 209 2 enacted enact VERB emaj-17 209 3 status status NOUN emaj-17 209 4 may may AUX emaj-17 209 5 be be AUX emaj-17 209 6 a a DET emaj-17 209 7 common common ADJ emaj-17 209 8 component component NOUN emaj-17 209 9 for for ADP emaj-17 209 10 this this DET emaj-17 209 11 quadrant quadrant NOUN emaj-17 209 12 . . PUNCT emaj-17 210 1 this this DET emaj-17 210 2 quadrant quadrant NOUN emaj-17 210 3 is be AUX emaj-17 210 4 characterized characterize VERB emaj-17 210 5 as as ADP emaj-17 210 6 having have VERB emaj-17 210 7 the the DET emaj-17 210 8 most most ADJ emaj-17 210 9 compliance compliance NOUN emaj-17 210 10 with with ADP emaj-17 210 11 global global ADJ emaj-17 210 12 standards standard NOUN emaj-17 210 13 and and CCONJ emaj-17 210 14 codes code NOUN emaj-17 210 15 with with ADP emaj-17 210 16 regard regard NOUN emaj-17 210 17 to to ADP emaj-17 210 18 corporate corporate ADJ emaj-17 210 19 governance governance NOUN emaj-17 210 20 however however ADV emaj-17 210 21 they they PRON emaj-17 210 22 also also ADV emaj-17 210 23 have have VERB emaj-17 210 24 high high ADJ emaj-17 210 25 levels level NOUN emaj-17 210 26 of of ADP emaj-17 210 27 corruption corruption NOUN emaj-17 210 28 . . PUNCT emaj-17 211 1 argentina argentina PROPN emaj-17 211 2 has have AUX emaj-17 211 3 achieved achieve VERB emaj-17 211 4 low low ADJ emaj-17 211 5 overall overall ADJ emaj-17 211 6 compliance compliance NOUN emaj-17 211 7 with with ADP emaj-17 211 8 international international ADJ emaj-17 211 9 standards standard NOUN emaj-17 211 10 and and CCONJ emaj-17 211 11 codes code NOUN emaj-17 211 12 and and CCONJ emaj-17 211 13 has have AUX emaj-17 211 14 “ " PUNCT emaj-17 211 15 enacted enact VERB emaj-17 211 16 ” " PUNCT emaj-17 211 17 status status NOUN emaj-17 211 18 . . PUNCT emaj-17 212 1 there there PRON emaj-17 212 2 have have AUX emaj-17 212 3 been be AUX emaj-17 212 4 serious serious ADJ emaj-17 212 5 concerns concern NOUN emaj-17 212 6 in in ADP emaj-17 212 7 the the DET emaj-17 212 8 recent recent ADJ emaj-17 212 9 past past NOUN emaj-17 212 10 about about ADP emaj-17 212 11 the the DET emaj-17 212 12 independence independence NOUN emaj-17 212 13 of of ADP emaj-17 212 14 the the DET emaj-17 212 15 central central ADJ emaj-17 212 16 bank bank PROPN emaj-17 212 17 of of ADP emaj-17 212 18 argentina argentina PROPN emaj-17 212 19 and and CCONJ emaj-17 212 20 doubts doubt NOUN emaj-17 212 21 about about ADP emaj-17 212 22 the the DET emaj-17 212 23 accuracy accuracy NOUN emaj-17 212 24 of of ADP emaj-17 212 25 inflation inflation NOUN emaj-17 212 26 data datum NOUN emaj-17 212 27 . . PUNCT emaj-17 213 1 credible credible ADJ emaj-17 213 2 implementation implementation NOUN emaj-17 213 3 of of ADP emaj-17 213 4 argentina argentina PROPN emaj-17 213 5 's 's PART emaj-17 213 6 comprehensive comprehensive ADJ emaj-17 213 7 legal legal ADJ emaj-17 213 8 framework framework NOUN emaj-17 213 9 for for ADP emaj-17 213 10 fiscal fiscal ADJ emaj-17 213 11 transparency transparency NOUN emaj-17 213 12 remains remain VERB emaj-17 213 13 one one NUM emaj-17 213 14 of of ADP emaj-17 213 15 the the DET emaj-17 213 16 country country NOUN emaj-17 213 17 's 's PART emaj-17 213 18 top top ADJ emaj-17 213 19 priorities priority NOUN emaj-17 213 20 since since SCONJ emaj-17 213 21 local local ADJ emaj-17 213 22 accounting accounting NOUN emaj-17 213 23 standards standard NOUN emaj-17 213 24 differ differ VERB emaj-17 213 25 from from ADP emaj-17 213 26 international international ADJ emaj-17 213 27 financial financial ADJ emaj-17 213 28 reporting reporting NOUN emaj-17 213 29 standards standard NOUN emaj-17 213 30 . . PUNCT emaj-17 214 1 in in ADP emaj-17 214 2 the the DET emaj-17 214 3 area area NOUN emaj-17 214 4 of of ADP emaj-17 214 5 corporate corporate ADJ emaj-17 214 6 governance governance NOUN emaj-17 214 7 , , PUNCT emaj-17 214 8 the the DET emaj-17 214 9 national national PROPN emaj-17 214 10 securities securities PROPN emaj-17 214 11 commission commission PROPN emaj-17 214 12 mandated mandate VERB emaj-17 214 13 listed list VERB emaj-17 214 14 companies company NOUN emaj-17 214 15 in in ADP emaj-17 214 16 october october PROPN emaj-17 214 17 2007 2007 NUM emaj-17 214 18 to to PART emaj-17 214 19 annually annually ADV emaj-17 214 20 disclose disclose VERB emaj-17 214 21 whether whether SCONJ emaj-17 214 22 they they PRON emaj-17 214 23 comply comply VERB emaj-17 214 24 with with ADP emaj-17 214 25 a a DET emaj-17 214 26 minimum minimum ADJ emaj-17 214 27 set set NOUN emaj-17 214 28 of of ADP emaj-17 214 29 governance governance NOUN emaj-17 214 30 standards standard NOUN emaj-17 214 31 or or CCONJ emaj-17 214 32 to to PART emaj-17 214 33 explain explain VERB emaj-17 214 34 the the DET emaj-17 214 35 reason reason NOUN emaj-17 214 36 for for ADP emaj-17 214 37 not not PART emaj-17 214 38 doing do VERB emaj-17 214 39 so so ADV emaj-17 214 40 . . PUNCT emaj-17 215 1 ( ( PUNCT emaj-17 215 2 estandardsforum estandardsforum NOUN emaj-17 215 3 , , PUNCT emaj-17 215 4 2009 2009 NUM emaj-17 215 5 ) ) PUNCT emaj-17 215 6 brazil brazil PROPN emaj-17 215 7 has have AUX emaj-17 215 8 “ " PUNCT emaj-17 215 9 intent intent NOUN emaj-17 215 10 declared declare VERB emaj-17 215 11 ” " PUNCT emaj-17 215 12 ( ( PUNCT emaj-17 215 13 i i PROPN emaj-17 215 14 d d PROPN emaj-17 215 15 ) ) PUNCT emaj-17 215 16 status status NOUN emaj-17 215 17 and and CCONJ emaj-17 215 18 a a DET emaj-17 215 19 low low ADJ emaj-17 215 20 overall overall ADJ emaj-17 215 21 compliance compliance NOUN emaj-17 215 22 with with ADP emaj-17 215 23 international international ADJ emaj-17 215 24 standards standard NOUN emaj-17 215 25 and and CCONJ emaj-17 215 26 codes code NOUN emaj-17 215 27 . . PUNCT emaj-17 216 1 the the DET emaj-17 216 2 2001 2001 NUM emaj-17 216 3 and and CCONJ emaj-17 216 4 2009 2009 NUM emaj-17 216 5 reforms reform NOUN emaj-17 216 6 of of ADP emaj-17 216 7 the the DET emaj-17 216 8 corporations corporation NOUN emaj-17 216 9 law law NOUN emaj-17 216 10 strengthened strengthen VERB emaj-17 216 11 minority minority NOUN emaj-17 216 12 shareholders shareholder NOUN emaj-17 216 13 rights right NOUN emaj-17 216 14 and and CCONJ emaj-17 216 15 improved improved ADJ emaj-17 216 16 standards standard NOUN emaj-17 216 17 for for ADP emaj-17 216 18 disclosure disclosure NOUN emaj-17 216 19 , , PUNCT emaj-17 216 20 with with ADP emaj-17 216 21 improved improved ADJ emaj-17 216 22 laws law NOUN emaj-17 216 23 on on ADP emaj-17 216 24 tag tag NOUN emaj-17 216 25 - - PUNCT emaj-17 216 26 along along ADP emaj-17 216 27 rights right NOUN emaj-17 216 28 , , PUNCT emaj-17 216 29 de de NOUN emaj-17 216 30 - - NOUN emaj-17 216 31 listing listing ADJ emaj-17 216 32 , , PUNCT emaj-17 216 33 non non ADJ emaj-17 216 34 - - ADJ emaj-17 216 35 voting voting ADJ emaj-17 216 36 shares share NOUN emaj-17 216 37 , , PUNCT emaj-17 216 38 election election NOUN emaj-17 216 39 of of ADP emaj-17 216 40 board board NOUN emaj-17 216 41 members member NOUN emaj-17 216 42 by by ADP emaj-17 216 43 minority minority NOUN emaj-17 216 44 shareholders shareholder NOUN emaj-17 216 45 and and CCONJ emaj-17 216 46 private private ADJ emaj-17 216 47 arbitration arbitration NOUN emaj-17 216 48 . . PUNCT emaj-17 217 1 brazil brazil PROPN emaj-17 217 2 has have AUX emaj-17 217 3 also also ADV emaj-17 217 4 declared declare VERB emaj-17 217 5 a a DET emaj-17 217 6 “ " PUNCT emaj-17 217 7 comply comply VERB emaj-17 217 8 or or CCONJ emaj-17 217 9 explain explain VERB emaj-17 217 10 ” " PUNCT emaj-17 217 11 policy policy NOUN emaj-17 217 12 for for ADP emaj-17 217 13 all all DET emaj-17 217 14 listed list VERB emaj-17 217 15 companies company NOUN emaj-17 217 16 , , PUNCT emaj-17 217 17 however however ADV emaj-17 217 18 , , PUNCT emaj-17 217 19 weaknesses weakness NOUN emaj-17 217 20 still still ADV emaj-17 217 21 persist persist VERB emaj-17 217 22 . . PUNCT emaj-17 218 1 the the DET emaj-17 218 2 concentration concentration NOUN emaj-17 218 3 of of ADP emaj-17 218 4 control control NOUN emaj-17 218 5 in in ADP emaj-17 218 6 the the DET emaj-17 218 7 hands hand NOUN emaj-17 218 8 of of ADP emaj-17 218 9 a a DET emaj-17 218 10 few few ADJ emaj-17 218 11 shareholders shareholder NOUN emaj-17 218 12 and and CCONJ emaj-17 218 13 issuance issuance NOUN emaj-17 218 14 of of ADP emaj-17 218 15 preferred preferred ADJ emaj-17 218 16 or or CCONJ emaj-17 218 17 non non ADJ emaj-17 218 18 - - ADJ emaj-17 218 19 voting voting ADJ emaj-17 218 20 shares share NOUN emaj-17 218 21 is be AUX emaj-17 218 22 prevalent prevalent ADJ emaj-17 218 23 , , PUNCT emaj-17 218 24 which which PRON emaj-17 218 25 to to ADP emaj-17 218 26 a a DET emaj-17 218 27 large large ADJ emaj-17 218 28 extent extent NOUN emaj-17 218 29 is be AUX emaj-17 218 30 due due ADJ emaj-17 218 31 to to ADP emaj-17 218 32 the the DET emaj-17 218 33 family family NOUN emaj-17 218 34 controlled control VERB emaj-17 218 35 ownership ownership NOUN emaj-17 218 36 structure structure NOUN emaj-17 218 37 . . PUNCT emaj-17 219 1 other other ADJ emaj-17 219 2 problems problem NOUN emaj-17 219 3 range range VERB emaj-17 219 4 from from ADP emaj-17 219 5 the the DET emaj-17 219 6 poor poor ADJ emaj-17 219 7 functioning functioning NOUN emaj-17 219 8 of of ADP emaj-17 219 9 boards board NOUN emaj-17 219 10 , , PUNCT emaj-17 219 11 the the DET emaj-17 219 12 disregard disregard NOUN emaj-17 219 13 of of ADP emaj-17 219 14 minority minority NOUN emaj-17 219 15 shareholders shareholder NOUN emaj-17 219 16 ' ' PART emaj-17 219 17 rights right NOUN emaj-17 219 18 to to ADP emaj-17 219 19 the the DET emaj-17 219 20 lack lack NOUN emaj-17 219 21 of of ADP emaj-17 219 22 adequate adequate ADJ emaj-17 219 23 legal legal ADJ emaj-17 219 24 protection protection NOUN emaj-17 219 25 to to ADP emaj-17 219 26 investors investor NOUN emaj-17 219 27 . . PUNCT emaj-17 220 1 ( ( PUNCT emaj-17 220 2 estandardsforum estandardsforum NOUN emaj-17 220 3 , , PUNCT emaj-17 220 4 2010 2010 NUM emaj-17 220 5 ) ) PUNCT emaj-17 221 1 russia russia PROPN emaj-17 221 2 has have AUX emaj-17 221 3 achieved achieve VERB emaj-17 221 4 a a DET emaj-17 221 5 medium medium ADJ emaj-17 221 6 compliance compliance NOUN emaj-17 221 7 rating rating NOUN emaj-17 221 8 and and CCONJ emaj-17 221 9 “ " PUNCT emaj-17 221 10 enacted enact VERB emaj-17 221 11 ” " PUNCT emaj-17 221 12 status status NOUN emaj-17 221 13 . . PUNCT emaj-17 222 1 it it PRON emaj-17 222 2 has have AUX emaj-17 222 3 also also ADV emaj-17 222 4 adopted adopt VERB emaj-17 222 5 a a DET emaj-17 222 6 “ " PUNCT emaj-17 222 7 comply comply VERB emaj-17 222 8 - - PUNCT emaj-17 222 9 or or CCONJ emaj-17 222 10 - - PUNCT emaj-17 222 11 explain explain VERB emaj-17 222 12 ” " PUNCT emaj-17 222 13 policy policy NOUN emaj-17 222 14 . . PUNCT emaj-17 223 1 the the DET emaj-17 223 2 european european PROPN emaj-17 223 3 bank bank PROPN emaj-17 223 4 for for ADP emaj-17 223 5 reconstruction reconstruction NOUN emaj-17 223 6 and and CCONJ emaj-17 223 7 development development NOUN emaj-17 223 8 ( ( PUNCT emaj-17 223 9 ebrd ebrd PROPN emaj-17 223 10 ) ) PUNCT emaj-17 223 11 had have AUX emaj-17 223 12 assessed assess VERB emaj-17 223 13 russian russian ADJ emaj-17 223 14 corporate corporate ADJ emaj-17 223 15 governance governance NOUN emaj-17 223 16 legislation legislation NOUN emaj-17 223 17 to to PART emaj-17 223 18 be be AUX emaj-17 223 19 in in ADP emaj-17 223 20 “ " PUNCT emaj-17 223 21 high high ADJ emaj-17 223 22 compliance compliance NOUN emaj-17 223 23 ” " PUNCT emaj-17 223 24 with with ADP emaj-17 223 25 oecd oecd PROPN emaj-17 223 26 principles principle NOUN emaj-17 223 27 of of ADP emaj-17 223 28 corporate corporate ADJ emaj-17 223 29 governance governance NOUN emaj-17 223 30 in in ADP emaj-17 223 31 2004 2004 NUM emaj-17 223 32 . . PUNCT emaj-17 224 1 however however ADV emaj-17 224 2 , , PUNCT emaj-17 224 3 it it PRON emaj-17 224 4 is be AUX emaj-17 224 5 important important ADJ emaj-17 224 6 to to PART emaj-17 224 7 note note VERB emaj-17 224 8 that that SCONJ emaj-17 224 9 there there PRON emaj-17 224 10 is be VERB emaj-17 224 11 still still ADV emaj-17 224 12 an an DET emaj-17 224 13 exorbitant exorbitant ADJ emaj-17 224 14 amount amount NOUN emaj-17 224 15 of of ADP emaj-17 224 16 state state NOUN emaj-17 224 17 intervention intervention NOUN emaj-17 224 18 in in ADP emaj-17 224 19 the the DET emaj-17 224 20 economy economy NOUN emaj-17 224 21 and and CCONJ emaj-17 224 22 pervasive pervasive ADJ emaj-17 224 23 corruption corruption NOUN emaj-17 224 24 in in ADP emaj-17 224 25 russia russia PROPN emaj-17 224 26 , , PUNCT emaj-17 224 27 which which PRON emaj-17 224 28 creates create VERB emaj-17 224 29 a a DET emaj-17 224 30 difficult difficult ADJ emaj-17 224 31 obstacle obstacle NOUN emaj-17 224 32 to to PART emaj-17 224 33 overcome overcome VERB emaj-17 224 34 with with ADP emaj-17 224 35 respect respect NOUN emaj-17 224 36 to to ADP emaj-17 224 37 improving improve VERB emaj-17 224 38 the the DET emaj-17 224 39 country country NOUN emaj-17 224 40 ’s ’s PART emaj-17 224 41 corporate corporate ADJ emaj-17 224 42 governance governance NOUN emaj-17 224 43 as as SCONJ emaj-17 224 44 noted note VERB emaj-17 224 45 by by ADP emaj-17 224 46 the the DET emaj-17 224 47 institute institute PROPN emaj-17 224 48 of of ADP emaj-17 224 49 international international PROPN emaj-17 224 50 finance finance NOUN emaj-17 224 51 ’s ’s PART emaj-17 224 52 2004 2004 NUM emaj-17 224 53 task task PROPN emaj-17 224 54 force force NOUN emaj-17 224 55 report report NOUN emaj-17 224 56 on on ADP emaj-17 224 57 corporate corporate ADJ emaj-17 224 58 governance governance NOUN emaj-17 224 59 . . PUNCT emaj-17 225 1 a a DET emaj-17 225 2 significant significant ADJ emaj-17 225 3 regulation regulation NOUN emaj-17 225 4 issued issue VERB emaj-17 225 5 by by ADP emaj-17 225 6 the the DET emaj-17 225 7 federal federal ADJ emaj-17 225 8 financial financial ADJ emaj-17 225 9 markets market NOUN emaj-17 225 10 service service NOUN emaj-17 225 11 ( ( PUNCT emaj-17 225 12 ffms ffms NOUN emaj-17 225 13 ) ) PUNCT emaj-17 225 14 required require VERB emaj-17 225 15 listed list VERB emaj-17 225 16 companies company NOUN emaj-17 225 17 to to PART emaj-17 225 18 enforce enforce VERB emaj-17 225 19 the the DET emaj-17 225 20 code code NOUN emaj-17 225 21 of of ADP emaj-17 225 22 corporate corporate ADJ emaj-17 225 23 governance governance NOUN emaj-17 225 24 conduct conduct NOUN emaj-17 225 25 and and CCONJ emaj-17 225 26 publish publish VERB emaj-17 225 27 financial financial ADJ emaj-17 225 28 statements statement NOUN emaj-17 225 29 that that PRON emaj-17 225 30 conform conform VERB emaj-17 225 31 to to ADP emaj-17 225 32 the the DET emaj-17 225 33 international international ADJ emaj-17 225 34 financial financial ADJ emaj-17 225 35 reporting reporting NOUN emaj-17 225 36 standards standard NOUN emaj-17 225 37 in in ADP emaj-17 225 38 an an DET emaj-17 225 39 attempt attempt NOUN emaj-17 225 40 at at ADP emaj-17 225 41 improving improve VERB emaj-17 225 42 transparency transparency NOUN emaj-17 225 43 . . PUNCT emaj-17 226 1 ( ( PUNCT emaj-17 226 2 estandardsforum estandardsforum NOUN emaj-17 226 3 , , PUNCT emaj-17 226 4 2010 2010 NUM emaj-17 226 5 ) ) PUNCT emaj-17 227 1 thailand thailand PROPN emaj-17 227 2 also also ADV emaj-17 227 3 has have AUX emaj-17 227 4 “ " PUNCT emaj-17 227 5 enacted enact VERB emaj-17 227 6 ” " PUNCT emaj-17 227 7 status status NOUN emaj-17 227 8 and and CCONJ emaj-17 227 9 a a DET emaj-17 227 10 medium medium ADJ emaj-17 227 11 compliance compliance NOUN emaj-17 227 12 rating rating NOUN emaj-17 227 13 with with ADP emaj-17 227 14 a a DET emaj-17 227 15 “ " PUNCT emaj-17 227 16 comply comply ADJ emaj-17 227 17 - - PUNCT emaj-17 227 18 orexplain orexplain NOUN emaj-17 227 19 ” " PUNCT emaj-17 227 20 approach approach NOUN emaj-17 227 21 . . PUNCT emaj-17 228 1 according accord VERB emaj-17 228 2 to to ADP emaj-17 228 3 the the DET emaj-17 228 4 asian asian NOUN emaj-17 228 5 the the DET emaj-17 228 6 influence influence NOUN emaj-17 228 7 of of ADP emaj-17 228 8 corruption corruption NOUN emaj-17 228 9 on on ADP emaj-17 228 10 corporate corporate ADJ emaj-17 228 11 governance governance NOUN emaj-17 228 12 standards standard NOUN emaj-17 228 13 : : PUNCT emaj-17 228 14 shared share VERB emaj-17 228 15 characteristics characteristic NOUN emaj-17 228 16 of of ADP emaj-17 228 17 rapidly rapidly ADV emaj-17 228 18 developing develop VERB emaj-17 228 19 economies economy NOUN emaj-17 228 20 emerging emerge VERB emaj-17 228 21 markets market NOUN emaj-17 228 22 journal journal NOUN emaj-17 228 23 | | ADV emaj-17 228 24 p p NOUN emaj-17 228 25 a a DET emaj-17 228 26 g g NOUN emaj-17 228 27 e e NOUN emaj-17 228 28 | | ADV emaj-17 228 29 31 31 NUM emaj-17 228 30 volume volume NOUN emaj-17 228 31 2 2 NUM emaj-17 228 32 ( ( PUNCT emaj-17 228 33 2012 2012 NUM emaj-17 228 34 ) ) PUNCT emaj-17 228 35 | | ADV emaj-17 228 36 issn issn VERB emaj-17 228 37 2158 2158 NUM emaj-17 228 38 - - SYM emaj-17 228 39 8708 8708 NUM emaj-17 228 40 ( ( PUNCT emaj-17 228 41 online online NOUN emaj-17 228 42 ) ) PUNCT emaj-17 228 43 | | ADV emaj-17 228 44 doi doi X emaj-17 228 45 10.5195 10.5195 NUM emaj-17 228 46 / / SYM emaj-17 228 47 emaj.2012.17 emaj.2012.17 NOUN emaj-17 229 1 | | ADV emaj-17 229 2 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 229 3 corporate corporate ADJ emaj-17 229 4 governance governance NOUN emaj-17 229 5 association association NOUN emaj-17 229 6 , , PUNCT emaj-17 229 7 the the DET emaj-17 229 8 updated update VERB emaj-17 229 9 code code NOUN emaj-17 229 10 follows follow VERB emaj-17 229 11 recommendations recommendation NOUN emaj-17 229 12 by by ADP emaj-17 229 13 the the DET emaj-17 229 14 world world PROPN emaj-17 229 15 bank bank PROPN emaj-17 229 16 and and CCONJ emaj-17 229 17 the the DET emaj-17 229 18 oecd oecd PROPN emaj-17 229 19 and and CCONJ emaj-17 229 20 that that SCONJ emaj-17 229 21 the the DET emaj-17 229 22 overall overall ADJ emaj-17 229 23 practices practice NOUN emaj-17 229 24 were be AUX emaj-17 229 25 at at ADP emaj-17 229 26 a a DET emaj-17 229 27 satisfactory satisfactory ADJ emaj-17 229 28 level level NOUN emaj-17 229 29 . . PUNCT emaj-17 230 1 despite despite SCONJ emaj-17 230 2 these these DET emaj-17 230 3 improvements improvement NOUN emaj-17 230 4 , , PUNCT emaj-17 230 5 however however ADV emaj-17 230 6 , , PUNCT emaj-17 230 7 it it PRON emaj-17 230 8 is be AUX emaj-17 230 9 still still ADV emaj-17 230 10 noted note VERB emaj-17 230 11 that that SCONJ emaj-17 230 12 the the DET emaj-17 230 13 legal legal ADJ emaj-17 230 14 enforcement enforcement NOUN emaj-17 230 15 of of ADP emaj-17 230 16 the the DET emaj-17 230 17 new new ADJ emaj-17 230 18 codes code NOUN emaj-17 230 19 remains remain VERB emaj-17 230 20 a a DET emaj-17 230 21 challenge challenge NOUN emaj-17 230 22 . . PUNCT emaj-17 231 1 in in ADP emaj-17 231 2 march march PROPN emaj-17 231 3 of of ADP emaj-17 231 4 2006 2006 NUM emaj-17 231 5 , , PUNCT emaj-17 231 6 a a DET emaj-17 231 7 2009 2009 NUM emaj-17 231 8 international international ADJ emaj-17 231 9 monetary monetary ADJ emaj-17 231 10 fund fund NOUN emaj-17 231 11 report report NOUN emaj-17 231 12 emphasizes emphasize VERB emaj-17 231 13 that that SCONJ emaj-17 231 14 the the DET emaj-17 231 15 2005 2005 NUM emaj-17 231 16 world world NOUN emaj-17 231 17 bank bank NOUN emaj-17 231 18 recommendation recommendation NOUN emaj-17 231 19 on on ADP emaj-17 231 20 shareholder shareholder NOUN emaj-17 231 21 protection protection NOUN emaj-17 231 22 should should AUX emaj-17 231 23 be be AUX emaj-17 231 24 implemented implement VERB emaj-17 231 25 into into ADP emaj-17 231 26 securities security NOUN emaj-17 231 27 laws law NOUN emaj-17 231 28 and and CCONJ emaj-17 231 29 that that SCONJ emaj-17 231 30 the the DET emaj-17 231 31 enforcement enforcement NOUN emaj-17 231 32 authority authority NOUN emaj-17 231 33 of of ADP emaj-17 231 34 the the DET emaj-17 231 35 securities securities PROPN emaj-17 231 36 and and CCONJ emaj-17 231 37 exchange exchange PROPN emaj-17 231 38 commission commission NOUN emaj-17 231 39 should should AUX emaj-17 231 40 be be AUX emaj-17 231 41 strengthened strengthen VERB emaj-17 231 42 . . PUNCT emaj-17 232 1 ( ( PUNCT emaj-17 232 2 estandardsforum estandardsforum NOUN emaj-17 232 3 , , PUNCT emaj-17 232 4 2009 2009 NUM emaj-17 232 5 ) ) PUNCT emaj-17 232 6 hungary hungary PROPN emaj-17 232 7 is be AUX emaj-17 232 8 the the DET emaj-17 232 9 highest high ADJ emaj-17 232 10 performer performer NOUN emaj-17 232 11 out out ADP emaj-17 232 12 of of ADP emaj-17 232 13 all all DET emaj-17 232 14 profiled profile VERB emaj-17 232 15 rdes rde NOUN emaj-17 232 16 holding hold VERB emaj-17 232 17 “ " PUNCT emaj-17 232 18 enacted enact VERB emaj-17 232 19 ” " PUNCT emaj-17 232 20 status status NOUN emaj-17 232 21 as as ADV emaj-17 232 22 well well ADV emaj-17 232 23 as as ADP emaj-17 232 24 a a DET emaj-17 232 25 high high ADJ emaj-17 232 26 compliance compliance NOUN emaj-17 232 27 rating rating NOUN emaj-17 232 28 . . PUNCT emaj-17 233 1 in in ADP emaj-17 233 2 its its PRON emaj-17 233 3 2003 2003 NUM emaj-17 233 4 corporate corporate ADJ emaj-17 233 5 governance governance NOUN emaj-17 233 6 sector sector NOUN emaj-17 233 7 assessment assessment NOUN emaj-17 233 8 project project NOUN emaj-17 233 9 , , PUNCT emaj-17 233 10 the the DET emaj-17 233 11 european european PROPN emaj-17 233 12 bank bank PROPN emaj-17 233 13 for for ADP emaj-17 233 14 reconstruction reconstruction NOUN emaj-17 233 15 and and CCONJ emaj-17 233 16 development development NOUN emaj-17 233 17 ( ( PUNCT emaj-17 233 18 ebrd ebrd PROPN emaj-17 233 19 ) ) PUNCT emaj-17 233 20 observed observe VERB emaj-17 233 21 that that SCONJ emaj-17 233 22 corporate corporate ADJ emaj-17 233 23 governance governance NOUN emaj-17 233 24 legislation legislation NOUN emaj-17 233 25 in in ADP emaj-17 233 26 hungary hungary PROPN emaj-17 233 27 is be AUX emaj-17 233 28 in in ADP emaj-17 233 29 " " PUNCT emaj-17 233 30 high high ADJ emaj-17 233 31 compliance compliance NOUN emaj-17 233 32 " " PUNCT emaj-17 233 33 with with ADP emaj-17 233 34 the the DET emaj-17 233 35 organization organization NOUN emaj-17 233 36 for for ADP emaj-17 233 37 economic economic ADJ emaj-17 233 38 cooperation cooperation NOUN emaj-17 233 39 and and CCONJ emaj-17 233 40 development development NOUN emaj-17 233 41 ( ( PUNCT emaj-17 233 42 oecd oecd PROPN emaj-17 233 43 ) ) PUNCT emaj-17 233 44 principles principle NOUN emaj-17 233 45 of of ADP emaj-17 233 46 corporate corporate ADJ emaj-17 233 47 governance governance NOUN emaj-17 233 48 . . PUNCT emaj-17 234 1 a a DET emaj-17 234 2 world world NOUN emaj-17 234 3 bank bank NOUN emaj-17 234 4 assessment assessment NOUN emaj-17 234 5 conducted conduct VERB emaj-17 234 6 the the DET emaj-17 234 7 same same ADJ emaj-17 234 8 year year NOUN emaj-17 234 9 confirmed confirm VERB emaj-17 234 10 that that SCONJ emaj-17 234 11 the the DET emaj-17 234 12 hungarian hungarian ADJ emaj-17 234 13 regulatory regulatory ADJ emaj-17 234 14 and and CCONJ emaj-17 234 15 legislative legislative ADJ emaj-17 234 16 framework framework NOUN emaj-17 234 17 with with ADP emaj-17 234 18 regard regard NOUN emaj-17 234 19 to to ADP emaj-17 234 20 corporate corporate ADJ emaj-17 234 21 governance governance NOUN emaj-17 234 22 is be AUX emaj-17 234 23 " " PUNCT emaj-17 234 24 robust robust ADJ emaj-17 234 25 . . PUNCT emaj-17 234 26 " " PUNCT emaj-17 235 1 two two NUM emaj-17 235 2 more more ADJ emaj-17 235 3 ebrd ebrd PROPN emaj-17 235 4 reports report NOUN emaj-17 235 5 published publish VERB emaj-17 235 6 in in ADP emaj-17 235 7 2008 2008 NUM emaj-17 235 8 strike strike VERB emaj-17 235 9 a a DET emaj-17 235 10 similar similar ADJ emaj-17 235 11 note note NOUN emaj-17 235 12 , , PUNCT emaj-17 235 13 finding find VERB emaj-17 235 14 that that SCONJ emaj-17 235 15 the the DET emaj-17 235 16 hungarian hungarian ADJ emaj-17 235 17 capital capital NOUN emaj-17 235 18 market market NOUN emaj-17 235 19 and and CCONJ emaj-17 235 20 corporate corporate ADJ emaj-17 235 21 governance governance NOUN emaj-17 235 22 frameworks framework NOUN emaj-17 235 23 are be AUX emaj-17 235 24 in in ADP emaj-17 235 25 line line NOUN emaj-17 235 26 with with ADP emaj-17 235 27 best good ADJ emaj-17 235 28 international international ADJ emaj-17 235 29 practice practice NOUN emaj-17 235 30 . . PUNCT emaj-17 236 1 nonetheless nonetheless ADV emaj-17 236 2 key key ADJ emaj-17 236 3 deficiencies deficiency NOUN emaj-17 236 4 identified identify VERB emaj-17 236 5 by by ADP emaj-17 236 6 the the DET emaj-17 236 7 reports report NOUN emaj-17 236 8 remain remain VERB emaj-17 236 9 , , PUNCT emaj-17 236 10 especially especially ADV emaj-17 236 11 regarding regard VERB emaj-17 236 12 the the DET emaj-17 236 13 enforcement enforcement NOUN emaj-17 236 14 of of ADP emaj-17 236 15 corporate corporate ADJ emaj-17 236 16 governance governance NOUN emaj-17 236 17 provisions provision NOUN emaj-17 236 18 . . PUNCT emaj-17 237 1 for for ADP emaj-17 237 2 instance instance NOUN emaj-17 237 3 , , PUNCT emaj-17 237 4 per per ADP emaj-17 237 5 the the DET emaj-17 237 6 ebrd ebrd PROPN emaj-17 237 7 reports report VERB emaj-17 237 8 , , PUNCT emaj-17 237 9 while while SCONJ emaj-17 237 10 minority minority NOUN emaj-17 237 11 shareholders shareholder NOUN emaj-17 237 12 receive receive VERB emaj-17 237 13 equitable equitable ADJ emaj-17 237 14 treatment treatment NOUN emaj-17 237 15 , , PUNCT emaj-17 237 16 the the DET emaj-17 237 17 enforceability enforceability NOUN emaj-17 237 18 of of ADP emaj-17 237 19 minority minority NOUN emaj-17 237 20 shareholders shareholder NOUN emaj-17 237 21 rights right NOUN emaj-17 237 22 , , PUNCT emaj-17 237 23 related relate VERB emaj-17 237 24 party party NOUN emaj-17 237 25 transactions transaction NOUN emaj-17 237 26 and and CCONJ emaj-17 237 27 efficiency efficiency NOUN emaj-17 237 28 of of ADP emaj-17 237 29 redress redress NOUN emaj-17 237 30 actions action NOUN emaj-17 237 31 are be AUX emaj-17 237 32 areas area NOUN emaj-17 237 33 of of ADP emaj-17 237 34 particular particular ADJ emaj-17 237 35 concern concern NOUN emaj-17 237 36 . . PUNCT emaj-17 238 1 ( ( PUNCT emaj-17 238 2 estandardsforum estandardsforum NOUN emaj-17 238 3 , , PUNCT emaj-17 238 4 2009 2009 NUM emaj-17 238 5 ) ) PUNCT emaj-17 238 6 . . PUNCT emaj-17 239 1 malaysia malaysia PROPN emaj-17 239 2 has have AUX emaj-17 239 3 attained attain VERB emaj-17 239 4 “ " PUNCT emaj-17 239 5 enacted enact VERB emaj-17 239 6 ” " PUNCT emaj-17 239 7 status status NOUN emaj-17 239 8 and and CCONJ emaj-17 239 9 is be AUX emaj-17 239 10 medium medium ADJ emaj-17 239 11 compliance compliance NOUN emaj-17 239 12 with with ADP emaj-17 239 13 standards standard NOUN emaj-17 239 14 and and CCONJ emaj-17 239 15 codes code NOUN emaj-17 239 16 . . PUNCT emaj-17 240 1 in in ADP emaj-17 240 2 the the DET emaj-17 240 3 wake wake NOUN emaj-17 240 4 of of ADP emaj-17 240 5 the the DET emaj-17 240 6 asian asian ADJ emaj-17 240 7 financial financial ADJ emaj-17 240 8 crisis crisis NOUN emaj-17 240 9 , , PUNCT emaj-17 240 10 steps step NOUN emaj-17 240 11 have have AUX emaj-17 240 12 been be AUX emaj-17 240 13 taken take VERB emaj-17 240 14 to to PART emaj-17 240 15 improve improve VERB emaj-17 240 16 accounting accounting NOUN emaj-17 240 17 transparency transparency NOUN emaj-17 240 18 and and CCONJ emaj-17 240 19 corporate corporate ADJ emaj-17 240 20 governance governance NOUN emaj-17 240 21 in in ADP emaj-17 240 22 malaysia malaysia PROPN emaj-17 240 23 . . PUNCT emaj-17 241 1 according accord VERB emaj-17 241 2 to to ADP emaj-17 241 3 the the DET emaj-17 241 4 world world PROPN emaj-17 241 5 bank bank PROPN emaj-17 241 6 's 's PART emaj-17 241 7 2005 2005 NUM emaj-17 241 8 report report NOUN emaj-17 241 9 on on ADP emaj-17 241 10 the the DET emaj-17 241 11 observance observance NOUN emaj-17 241 12 of of ADP emaj-17 241 13 standards standard NOUN emaj-17 241 14 and and CCONJ emaj-17 241 15 codes code NOUN emaj-17 241 16 ( ( PUNCT emaj-17 241 17 rosc rosc ADJ emaj-17 241 18 ) ) PUNCT emaj-17 241 19 on on ADP emaj-17 241 20 corporate corporate ADJ emaj-17 241 21 governance governance NOUN emaj-17 241 22 in in ADP emaj-17 241 23 malaysia malaysia PROPN emaj-17 241 24 , , PUNCT emaj-17 241 25 the the DET emaj-17 241 26 incidence incidence NOUN emaj-17 241 27 of of ADP emaj-17 241 28 concentrated concentrated ADJ emaj-17 241 29 shareholding shareholding NOUN emaj-17 241 30 is be AUX emaj-17 241 31 very very ADV emaj-17 241 32 pronounced pronounce VERB emaj-17 241 33 in in ADP emaj-17 241 34 the the DET emaj-17 241 35 malaysian malaysian ADJ emaj-17 241 36 market market NOUN emaj-17 241 37 , , PUNCT emaj-17 241 38 particularly particularly ADV emaj-17 241 39 through through ADP emaj-17 241 40 pyramid pyramid NOUN emaj-17 241 41 structures structure NOUN emaj-17 241 42 . . PUNCT emaj-17 242 1 furthermore furthermore ADV emaj-17 242 2 , , PUNCT emaj-17 242 3 companies company NOUN emaj-17 242 4 are be AUX emaj-17 242 5 usually usually ADV emaj-17 242 6 majority majority NOUN emaj-17 242 7 - - PUNCT emaj-17 242 8 controlled control VERB emaj-17 242 9 by by ADP emaj-17 242 10 a a DET emaj-17 242 11 small small ADJ emaj-17 242 12 group group NOUN emaj-17 242 13 of of ADP emaj-17 242 14 relatedparties relatedpartie NOUN emaj-17 242 15 and and CCONJ emaj-17 242 16 managed manage VERB emaj-17 242 17 by by ADP emaj-17 242 18 owner owner NOUN emaj-17 242 19 - - PUNCT emaj-17 242 20 managers manager NOUN emaj-17 242 21 . . PUNCT emaj-17 243 1 weaknesses weakness NOUN emaj-17 243 2 exist exist VERB emaj-17 243 3 with with ADP emaj-17 243 4 regards regard NOUN emaj-17 243 5 to to ADP emaj-17 243 6 the the DET emaj-17 243 7 overlapping overlap VERB emaj-17 243 8 authority authority NOUN emaj-17 243 9 of of ADP emaj-17 243 10 the the DET emaj-17 243 11 regulatory regulatory ADJ emaj-17 243 12 institutions institution NOUN emaj-17 243 13 governing govern VERB emaj-17 243 14 the the DET emaj-17 243 15 : : PUNCT emaj-17 243 16 securities security NOUN emaj-17 243 17 market market NOUN emaj-17 243 18 , , PUNCT emaj-17 243 19 the the DET emaj-17 243 20 government government NOUN emaj-17 243 21 's 's PART emaj-17 243 22 high high ADJ emaj-17 243 23 level level NOUN emaj-17 243 24 of of ADP emaj-17 243 25 equity equity NOUN emaj-17 243 26 ownership ownership NOUN emaj-17 243 27 , , PUNCT emaj-17 243 28 low low ADJ emaj-17 243 29 free free ADJ emaj-17 243 30 float float NOUN emaj-17 243 31 , , PUNCT emaj-17 243 32 weak weak ADJ emaj-17 243 33 protection protection NOUN emaj-17 243 34 of of ADP emaj-17 243 35 minority minority NOUN emaj-17 243 36 shareholders shareholder NOUN emaj-17 243 37 , , PUNCT emaj-17 243 38 and and CCONJ emaj-17 243 39 directors director NOUN emaj-17 243 40 ' ' PART emaj-17 243 41 accountability accountability NOUN emaj-17 243 42 . . PUNCT emaj-17 244 1 in in ADP emaj-17 244 2 this this DET emaj-17 244 3 regard regard NOUN emaj-17 244 4 , , PUNCT emaj-17 244 5 it it PRON emaj-17 244 6 was be AUX emaj-17 244 7 advised advise VERB emaj-17 244 8 to to PART emaj-17 244 9 : : PUNCT emaj-17 244 10 enforce enforce VERB emaj-17 244 11 disclosure disclosure NOUN emaj-17 244 12 and and CCONJ emaj-17 244 13 reporting reporting NOUN emaj-17 244 14 requirements requirement NOUN emaj-17 244 15 in in ADP emaj-17 244 16 a a DET emaj-17 244 17 continuous continuous ADJ emaj-17 244 18 and and CCONJ emaj-17 244 19 consistent consistent ADJ emaj-17 244 20 manner manner NOUN emaj-17 244 21 , , PUNCT emaj-17 244 22 to to PART emaj-17 244 23 strengthen strengthen VERB emaj-17 244 24 directors director NOUN emaj-17 244 25 ' ' PART emaj-17 244 26 independence independence NOUN emaj-17 244 27 and and CCONJ emaj-17 244 28 accountability accountability NOUN emaj-17 244 29 to to ADP emaj-17 244 30 investors investor NOUN emaj-17 244 31 , , PUNCT emaj-17 244 32 and and CCONJ emaj-17 244 33 to to PART emaj-17 244 34 enhance enhance VERB emaj-17 244 35 the the DET emaj-17 244 36 role role NOUN emaj-17 244 37 of of ADP emaj-17 244 38 institutional institutional ADJ emaj-17 244 39 investors investor NOUN emaj-17 244 40 and and CCONJ emaj-17 244 41 shareholder shareholder NOUN emaj-17 244 42 activism activism NOUN emaj-17 244 43 in in ADP emaj-17 244 44 the the DET emaj-17 244 45 corporate corporate ADJ emaj-17 244 46 governance governance NOUN emaj-17 244 47 framework framework NOUN emaj-17 244 48 . . PUNCT emaj-17 245 1 ( ( PUNCT emaj-17 245 2 estandardsforum estandardsforum NOUN emaj-17 245 3 , , PUNCT emaj-17 245 4 2009 2009 NUM emaj-17 245 5 ) ) PUNCT emaj-17 245 6 turkey turkey NOUN emaj-17 245 7 has have AUX emaj-17 245 8 achieved achieve VERB emaj-17 245 9 a a DET emaj-17 245 10 medium medium ADJ emaj-17 245 11 compliance compliance NOUN emaj-17 245 12 rating rating NOUN emaj-17 245 13 and and CCONJ emaj-17 245 14 “ " PUNCT emaj-17 245 15 enacted enact VERB emaj-17 245 16 ” " PUNCT emaj-17 245 17 status status NOUN emaj-17 245 18 . . PUNCT emaj-17 246 1 turkish turkish ADJ emaj-17 246 2 corporate corporate ADJ emaj-17 246 3 governance governance NOUN emaj-17 246 4 is be AUX emaj-17 246 5 characterized characterize VERB emaj-17 246 6 by by ADP emaj-17 246 7 concentrated concentrated ADJ emaj-17 246 8 ownership ownership NOUN emaj-17 246 9 with with ADP emaj-17 246 10 family family NOUN emaj-17 246 11 - - PUNCT emaj-17 246 12 owned own VERB emaj-17 246 13 company company NOUN emaj-17 246 14 groups group NOUN emaj-17 246 15 and and CCONJ emaj-17 246 16 cross cross NOUN emaj-17 246 17 - - NOUN emaj-17 246 18 ownership ownership NOUN emaj-17 246 19 between between ADP emaj-17 246 20 companies company NOUN emaj-17 246 21 . . PUNCT emaj-17 247 1 while while SCONJ emaj-17 247 2 corporate corporate ADJ emaj-17 247 3 governance governance NOUN emaj-17 247 4 in in ADP emaj-17 247 5 turkey turkey NOUN emaj-17 247 6 is be AUX emaj-17 247 7 improving improve VERB emaj-17 247 8 , , PUNCT emaj-17 247 9 key key ADJ emaj-17 247 10 issues issue NOUN emaj-17 247 11 remain remain VERB emaj-17 247 12 as as SCONJ emaj-17 247 13 the the DET emaj-17 247 14 ownership ownership NOUN emaj-17 247 15 structure structure NOUN emaj-17 247 16 is be AUX emaj-17 247 17 still still ADV emaj-17 247 18 composited composite VERB emaj-17 247 19 within within ADP emaj-17 247 20 the the DET emaj-17 247 21 business business NOUN emaj-17 247 22 groups group NOUN emaj-17 247 23 ( ( PUNCT emaj-17 247 24 bgs bgs PROPN emaj-17 247 25 ) ) PUNCT emaj-17 247 26 and and CCONJ emaj-17 247 27 the the DET emaj-17 247 28 ownership ownership NOUN emaj-17 247 29 is be AUX emaj-17 247 30 still still ADV emaj-17 247 31 pyramidal pyramidal ADJ emaj-17 247 32 as as ADV emaj-17 247 33 well well ADV emaj-17 247 34 as as ADP emaj-17 247 35 consolidated consolidate VERB emaj-17 247 36 within within ADP emaj-17 247 37 families family NOUN emaj-17 247 38 , , PUNCT emaj-17 247 39 which which PRON emaj-17 247 40 are be AUX emaj-17 247 41 the the DET emaj-17 247 42 primogeniture primogeniture ADJ emaj-17 247 43 shareholders shareholder NOUN emaj-17 247 44 that that PRON emaj-17 247 45 dominate dominate VERB emaj-17 247 46 the the DET emaj-17 247 47 decision decision NOUN emaj-17 247 48 - - PUNCT emaj-17 247 49 making make VERB emaj-17 247 50 process process NOUN emaj-17 247 51 based base VERB emaj-17 247 52 on on ADP emaj-17 247 53 insider insider NOUN emaj-17 247 54 expropriation expropriation NOUN emaj-17 247 55 ( ( PUNCT emaj-17 247 56 yurtoglu yurtoglu PROPN emaj-17 247 57 , , PUNCT emaj-17 247 58 2000 2000 NUM emaj-17 247 59 ) ) PUNCT emaj-17 247 60 . . PUNCT emaj-17 248 1 however however ADV emaj-17 248 2 , , PUNCT emaj-17 248 3 a a DET emaj-17 248 4 joint joint ADJ emaj-17 248 5 study study NOUN emaj-17 248 6 conducted conduct VERB emaj-17 248 7 by by ADP emaj-17 248 8 standard standard ADJ emaj-17 248 9 and and CCONJ emaj-17 248 10 poor poor ADJ emaj-17 248 11 's 's PART emaj-17 248 12 and and CCONJ emaj-17 248 13 the the DET emaj-17 248 14 corporate corporate ADJ emaj-17 248 15 governance governance NOUN emaj-17 248 16 forum forum NOUN emaj-17 248 17 of of ADP emaj-17 248 18 turkey turkey PROPN emaj-17 248 19 in in ADP emaj-17 248 20 2008 2008 NUM emaj-17 248 21 found find VERB emaj-17 248 22 that that SCONJ emaj-17 248 23 the the DET emaj-17 248 24 legal legal ADJ emaj-17 248 25 and and CCONJ emaj-17 248 26 regulatory regulatory ADJ emaj-17 248 27 framework framework NOUN emaj-17 248 28 in in ADP emaj-17 248 29 turkey turkey NOUN emaj-17 248 30 regarding regard VERB emaj-17 248 31 corporate corporate ADJ emaj-17 248 32 governance governance NOUN emaj-17 248 33 standards standard NOUN emaj-17 248 34 and and CCONJ emaj-17 248 35 their their PRON emaj-17 248 36 enforcement enforcement NOUN emaj-17 248 37 had have AUX emaj-17 248 38 drastically drastically ADV emaj-17 248 39 improved improve VERB emaj-17 248 40 . . PUNCT emaj-17 249 1 overall overall ADV emaj-17 249 2 the the DET emaj-17 249 3 ebrd ebrd PROPN emaj-17 249 4 finds find VERB emaj-17 249 5 turkey turkey PROPN emaj-17 249 6 ’s ’s PART emaj-17 249 7 law law NOUN emaj-17 249 8 on on ADP emaj-17 249 9 the the DET emaj-17 249 10 books book NOUN emaj-17 249 11 to to PART emaj-17 249 12 be be AUX emaj-17 249 13 “ " PUNCT emaj-17 249 14 generally generally ADV emaj-17 249 15 good good ADJ emaj-17 249 16 , , PUNCT emaj-17 249 17 ” " PUNCT emaj-17 249 18 but but CCONJ emaj-17 249 19 improvements improvement NOUN emaj-17 249 20 are be AUX emaj-17 249 21 still still ADV emaj-17 249 22 needed need VERB emaj-17 249 23 , , PUNCT emaj-17 249 24 particularly particularly ADV emaj-17 249 25 in in ADP emaj-17 249 26 the the DET emaj-17 249 27 areas area NOUN emaj-17 249 28 of of ADP emaj-17 249 29 shareholder shareholder NOUN emaj-17 249 30 rights right NOUN emaj-17 249 31 and and CCONJ emaj-17 249 32 the the DET emaj-17 249 33 role role NOUN emaj-17 249 34 of of ADP emaj-17 249 35 stakeholders stakeholder NOUN emaj-17 249 36 in in ADP emaj-17 249 37 corporate corporate ADJ emaj-17 249 38 governance governance NOUN emaj-17 249 39 . . PUNCT emaj-17 250 1 the the DET emaj-17 250 2 report report NOUN emaj-17 250 3 recommended recommend VERB emaj-17 250 4 that that SCONJ emaj-17 250 5 shareholders shareholder NOUN emaj-17 250 6 be be AUX emaj-17 250 7 enabled enable VERB emaj-17 250 8 to to PART emaj-17 250 9 participate participate VERB emaj-17 250 10 more more ADV emaj-17 250 11 the the DET emaj-17 250 12 influence influence NOUN emaj-17 250 13 of of ADP emaj-17 250 14 corruption corruption NOUN emaj-17 250 15 on on ADP emaj-17 250 16 corporate corporate ADJ emaj-17 250 17 governance governance NOUN emaj-17 250 18 standards standard NOUN emaj-17 250 19 : : PUNCT emaj-17 250 20 shared share VERB emaj-17 250 21 characteristics characteristic NOUN emaj-17 250 22 of of ADP emaj-17 250 23 rapidly rapidly ADV emaj-17 250 24 developing develop VERB emaj-17 250 25 economies economy NOUN emaj-17 250 26 emerging emerge VERB emaj-17 250 27 markets market NOUN emaj-17 250 28 journal journal NOUN emaj-17 250 29 | | ADV emaj-17 250 30 p p NOUN emaj-17 250 31 a a DET emaj-17 250 32 g g NOUN emaj-17 250 33 e e NOUN emaj-17 250 34 | | ADV emaj-17 250 35 32 32 NUM emaj-17 250 36 volume volume NOUN emaj-17 250 37 2 2 NUM emaj-17 250 38 ( ( PUNCT emaj-17 250 39 2012 2012 NUM emaj-17 250 40 ) ) PUNCT emaj-17 250 41 | | ADV emaj-17 250 42 issn issn VERB emaj-17 250 43 2158 2158 NUM emaj-17 250 44 - - SYM emaj-17 250 45 8708 8708 NUM emaj-17 250 46 ( ( PUNCT emaj-17 250 47 online online NOUN emaj-17 250 48 ) ) PUNCT emaj-17 250 49 | | ADV emaj-17 250 50 doi doi X emaj-17 250 51 10.5195 10.5195 NUM emaj-17 250 52 / / SYM emaj-17 250 53 emaj.2012.17 emaj.2012.17 NOUN emaj-17 250 54 | | ADV emaj-17 250 55 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 250 56 effectively effectively ADV emaj-17 250 57 in in ADP emaj-17 250 58 meetings meeting NOUN emaj-17 250 59 and and CCONJ emaj-17 250 60 that that SCONJ emaj-17 250 61 stakeholders stakeholder NOUN emaj-17 250 62 be be AUX emaj-17 250 63 offered offer VERB emaj-17 250 64 access access NOUN emaj-17 250 65 to to ADP emaj-17 250 66 corporate corporate ADJ emaj-17 250 67 information information NOUN emaj-17 250 68 and and CCONJ emaj-17 250 69 specific specific ADJ emaj-17 250 70 independent independent ADJ emaj-17 250 71 committees committee NOUN emaj-17 250 72 . . PUNCT emaj-17 251 1 ( ( PUNCT emaj-17 251 2 estandardsforum estandardsforum NOUN emaj-17 251 3 , , PUNCT emaj-17 251 4 2010 2010 NUM emaj-17 251 5 ) ) PUNCT emaj-17 252 1 india india PROPN emaj-17 252 2 has have AUX emaj-17 252 3 attained attain VERB emaj-17 252 4 “ " PUNCT emaj-17 252 5 enacted enact VERB emaj-17 252 6 ” " PUNCT emaj-17 252 7 status status NOUN emaj-17 252 8 and and CCONJ emaj-17 252 9 is be AUX emaj-17 252 10 reported report VERB emaj-17 252 11 to to PART emaj-17 252 12 be be AUX emaj-17 252 13 in in ADP emaj-17 252 14 medium medium ADJ emaj-17 252 15 compliance compliance NOUN emaj-17 252 16 . . PUNCT emaj-17 253 1 the the DET emaj-17 253 2 world world PROPN emaj-17 253 3 bank bank PROPN emaj-17 253 4 in in ADP emaj-17 253 5 its its PRON emaj-17 253 6 2004 2004 NUM emaj-17 253 7 report report NOUN emaj-17 253 8 on on ADP emaj-17 253 9 the the DET emaj-17 253 10 observance observance NOUN emaj-17 253 11 of of ADP emaj-17 253 12 standards standard NOUN emaj-17 253 13 and and CCONJ emaj-17 253 14 codes code NOUN emaj-17 253 15 ( ( PUNCT emaj-17 253 16 rosc rosc ADJ emaj-17 253 17 ) ) PUNCT emaj-17 253 18 on on ADP emaj-17 253 19 corporate corporate ADJ emaj-17 253 20 governance governance NOUN emaj-17 253 21 practices practice NOUN emaj-17 253 22 in in ADP emaj-17 253 23 india india PROPN emaj-17 253 24 acknowledged acknowledge VERB emaj-17 253 25 that that SCONJ emaj-17 253 26 considerable considerable ADJ emaj-17 253 27 efforts effort NOUN emaj-17 253 28 had have AUX emaj-17 253 29 been be AUX emaj-17 253 30 made make VERB emaj-17 253 31 to to PART emaj-17 253 32 reform reform VERB emaj-17 253 33 the the DET emaj-17 253 34 corporate corporate ADJ emaj-17 253 35 governance governance NOUN emaj-17 253 36 framework framework NOUN emaj-17 253 37 and and CCONJ emaj-17 253 38 to to PART emaj-17 253 39 improve improve VERB emaj-17 253 40 the the DET emaj-17 253 41 accountability accountability NOUN emaj-17 253 42 / / SYM emaj-17 253 43 responsibility responsibility NOUN emaj-17 253 44 of of ADP emaj-17 253 45 insiders insider NOUN emaj-17 253 46 , , PUNCT emaj-17 253 47 fairness fairness NOUN emaj-17 253 48 in in ADP emaj-17 253 49 treatment treatment NOUN emaj-17 253 50 , , PUNCT emaj-17 253 51 board board NOUN emaj-17 253 52 practices practice NOUN emaj-17 253 53 , , PUNCT emaj-17 253 54 and and CCONJ emaj-17 253 55 transparency transparency NOUN emaj-17 253 56 . . PUNCT emaj-17 254 1 the the DET emaj-17 254 2 establishment establishment NOUN emaj-17 254 3 of of ADP emaj-17 254 4 the the DET emaj-17 254 5 securities securities PROPN emaj-17 254 6 and and CCONJ emaj-17 254 7 exchange exchange PROPN emaj-17 254 8 board board PROPN emaj-17 254 9 of of ADP emaj-17 254 10 india india PROPN emaj-17 254 11 ( ( PUNCT emaj-17 254 12 sebi sebi NOUN emaj-17 254 13 ) ) PUNCT emaj-17 254 14 in in ADP emaj-17 254 15 1992 1992 NUM emaj-17 254 16 has have AUX emaj-17 254 17 been be AUX emaj-17 254 18 described describe VERB emaj-17 254 19 as as ADP emaj-17 254 20 the the DET emaj-17 254 21 single single ADJ emaj-17 254 22 most most ADV emaj-17 254 23 important important ADJ emaj-17 254 24 event event NOUN emaj-17 254 25 with with ADP emaj-17 254 26 respect respect NOUN emaj-17 254 27 to to ADP emaj-17 254 28 investor investor NOUN emaj-17 254 29 protection protection NOUN emaj-17 254 30 in in ADP emaj-17 254 31 india india PROPN emaj-17 254 32 . . PUNCT emaj-17 255 1 however however ADV emaj-17 255 2 , , PUNCT emaj-17 255 3 significant significant ADJ emaj-17 255 4 weaknesses weakness NOUN emaj-17 255 5 in in ADP emaj-17 255 6 the the DET emaj-17 255 7 enforcement enforcement NOUN emaj-17 255 8 of of ADP emaj-17 255 9 provisions provision NOUN emaj-17 255 10 exist exist VERB emaj-17 255 11 , , PUNCT emaj-17 255 12 particularly particularly ADV emaj-17 255 13 with with ADP emaj-17 255 14 respect respect NOUN emaj-17 255 15 to to ADP emaj-17 255 16 insider insider NOUN emaj-17 255 17 trading trading NOUN emaj-17 255 18 and and CCONJ emaj-17 255 19 related related ADJ emaj-17 255 20 party party NOUN emaj-17 255 21 transactions transaction NOUN emaj-17 255 22 . . PUNCT emaj-17 256 1 this this PRON emaj-17 256 2 is be AUX emaj-17 256 3 , , PUNCT emaj-17 256 4 in in ADP emaj-17 256 5 part part NOUN emaj-17 256 6 , , PUNCT emaj-17 256 7 attributed attribute VERB emaj-17 256 8 to to ADP emaj-17 256 9 some some DET emaj-17 256 10 regulatory regulatory ADJ emaj-17 256 11 overlap overlap NOUN emaj-17 256 12 between between ADP emaj-17 256 13 sebi sebi NOUN emaj-17 256 14 and and CCONJ emaj-17 256 15 the the DET emaj-17 256 16 ministry ministry PROPN emaj-17 256 17 of of ADP emaj-17 256 18 company company PROPN emaj-17 256 19 affairs affair NOUN emaj-17 256 20 . . PUNCT emaj-17 257 1 other other ADJ emaj-17 257 2 weaknesses weakness NOUN emaj-17 257 3 identified identify VERB emaj-17 257 4 include include VERB emaj-17 257 5 constraints constraint NOUN emaj-17 257 6 to to PART emaj-17 257 7 participation participation VERB emaj-17 257 8 in in ADP emaj-17 257 9 annual annual ADJ emaj-17 257 10 general general ADJ emaj-17 257 11 meetings meeting NOUN emaj-17 257 12 and and CCONJ emaj-17 257 13 the the DET emaj-17 257 14 need need NOUN emaj-17 257 15 for for ADP emaj-17 257 16 corporate corporate ADJ emaj-17 257 17 governance governance NOUN emaj-17 257 18 codes code NOUN emaj-17 257 19 for for ADP emaj-17 257 20 unlisted unlisted ADJ emaj-17 257 21 companies company NOUN emaj-17 257 22 . . PUNCT emaj-17 258 1 ( ( PUNCT emaj-17 258 2 estandardsforum estandardsforum NOUN emaj-17 258 3 , , PUNCT emaj-17 258 4 2009 2009 NUM emaj-17 258 5 ) ) PUNCT emaj-17 258 6 . . PUNCT emaj-17 259 1 in in ADP emaj-17 259 2 india india PROPN emaj-17 259 3 , , PUNCT emaj-17 259 4 bank bank NOUN emaj-17 259 5 monitoring monitoring NOUN emaj-17 259 6 may may AUX emaj-17 259 7 also also ADV emaj-17 259 8 lead lead VERB emaj-17 259 9 to to ADP emaj-17 259 10 less less ADJ emaj-17 259 11 public public ADJ emaj-17 259 12 transparency transparency NOUN emaj-17 259 13 , , PUNCT emaj-17 259 14 which which PRON emaj-17 259 15 in in ADP emaj-17 259 16 turn turn NOUN emaj-17 259 17 encourages encourage VERB emaj-17 259 18 low low ADJ emaj-17 259 19 level level NOUN emaj-17 259 20 of of ADP emaj-17 259 21 trading trading NOUN emaj-17 259 22 liquidity liquidity NOUN emaj-17 259 23 and and CCONJ emaj-17 259 24 discourage discourage VERB emaj-17 259 25 aggregation aggregation NOUN emaj-17 259 26 of of ADP emaj-17 259 27 information information NOUN emaj-17 259 28 by by ADP emaj-17 259 29 investors investor NOUN emaj-17 259 30 ( ( PUNCT emaj-17 259 31 perotti perotti ADJ emaj-17 259 32 and and CCONJ emaj-17 259 33 von von PROPN emaj-17 259 34 thadden thadden PROPN emaj-17 259 35 , , PUNCT emaj-17 259 36 1998 1998 NUM emaj-17 259 37 ) ) PUNCT emaj-17 259 38 . . PUNCT emaj-17 260 1 indonesia indonesia PROPN emaj-17 260 2 also also ADV emaj-17 260 3 has have AUX emaj-17 260 4 “ " PUNCT emaj-17 260 5 enacted enact VERB emaj-17 260 6 ” " PUNCT emaj-17 260 7 status status NOUN emaj-17 260 8 and and CCONJ emaj-17 260 9 medium medium NOUN emaj-17 260 10 compliance compliance NOUN emaj-17 260 11 and and CCONJ emaj-17 260 12 has have AUX emaj-17 260 13 been be AUX emaj-17 260 14 described describe VERB emaj-17 260 15 as as ADP emaj-17 260 16 having have VERB emaj-17 260 17 an an DET emaj-17 260 18 elaborate elaborate ADJ emaj-17 260 19 system system NOUN emaj-17 260 20 of of ADP emaj-17 260 21 corporate corporate ADJ emaj-17 260 22 governance governance NOUN emaj-17 260 23 rules rule NOUN emaj-17 260 24 . . PUNCT emaj-17 261 1 the the DET emaj-17 261 2 rosc rosc ADJ emaj-17 261 3 notes note VERB emaj-17 261 4 that that SCONJ emaj-17 261 5 actual actual ADJ emaj-17 261 6 corporate corporate ADJ emaj-17 261 7 governance governance NOUN emaj-17 261 8 practices practice NOUN emaj-17 261 9 in in ADP emaj-17 261 10 indonesia indonesia PROPN emaj-17 261 11 often often ADV emaj-17 261 12 fall fall VERB emaj-17 261 13 short short ADV emaj-17 261 14 of of ADP emaj-17 261 15 oecd oecd PROPN emaj-17 261 16 's 's PART emaj-17 261 17 recommendations recommendation NOUN emaj-17 261 18 . . PUNCT emaj-17 262 1 business business NOUN emaj-17 262 2 culture culture NOUN emaj-17 262 3 in in ADP emaj-17 262 4 indonesia indonesia PROPN emaj-17 262 5 is be AUX emaj-17 262 6 based base VERB emaj-17 262 7 on on ADP emaj-17 262 8 relationships relationship NOUN emaj-17 262 9 rather rather ADV emaj-17 262 10 than than ADP emaj-17 262 11 rules rule NOUN emaj-17 262 12 , , PUNCT emaj-17 262 13 largely largely ADV emaj-17 262 14 as as ADP emaj-17 262 15 a a DET emaj-17 262 16 result result NOUN emaj-17 262 17 of of ADP emaj-17 262 18 the the DET emaj-17 262 19 high high ADJ emaj-17 262 20 incidence incidence NOUN emaj-17 262 21 of of ADP emaj-17 262 22 concentrated concentrated ADJ emaj-17 262 23 ownership ownership NOUN emaj-17 262 24 , , PUNCT emaj-17 262 25 family family NOUN emaj-17 262 26 - - PUNCT emaj-17 262 27 owned own VERB emaj-17 262 28 businesses business NOUN emaj-17 262 29 , , PUNCT emaj-17 262 30 a a DET emaj-17 262 31 weak weak ADJ emaj-17 262 32 capital capital NOUN emaj-17 262 33 market market NOUN emaj-17 262 34 , , PUNCT emaj-17 262 35 and and CCONJ emaj-17 262 36 controlling control VERB emaj-17 262 37 shareholders shareholder NOUN emaj-17 262 38 . . PUNCT emaj-17 263 1 it it PRON emaj-17 263 2 further far ADV emaj-17 263 3 advised advise VERB emaj-17 263 4 establishing establish VERB emaj-17 263 5 nomination nomination NOUN emaj-17 263 6 committees committee NOUN emaj-17 263 7 and and CCONJ emaj-17 263 8 a a DET emaj-17 263 9 cumulative cumulative ADJ emaj-17 263 10 voting voting NOUN emaj-17 263 11 system system NOUN emaj-17 263 12 , , PUNCT emaj-17 263 13 ensuring ensure VERB emaj-17 263 14 disclosure disclosure NOUN emaj-17 263 15 and and CCONJ emaj-17 263 16 transparency transparency NOUN emaj-17 263 17 in in ADP emaj-17 263 18 annual annual ADJ emaj-17 263 19 reports report NOUN emaj-17 263 20 and and CCONJ emaj-17 263 21 financial financial ADJ emaj-17 263 22 statements statement NOUN emaj-17 263 23 , , PUNCT emaj-17 263 24 and and CCONJ emaj-17 263 25 improving improve VERB emaj-17 263 26 the the DET emaj-17 263 27 roles role NOUN emaj-17 263 28 and and CCONJ emaj-17 263 29 responsibilities responsibility NOUN emaj-17 263 30 of of ADP emaj-17 263 31 the the DET emaj-17 263 32 audit audit NOUN emaj-17 263 33 committees committee NOUN emaj-17 263 34 . . PUNCT emaj-17 264 1 a a DET emaj-17 264 2 2006 2006 NUM emaj-17 264 3 oecd oecd PROPN emaj-17 264 4 report report NOUN emaj-17 264 5 , , PUNCT emaj-17 264 6 “ " PUNCT emaj-17 264 7 implementing implement VERB emaj-17 264 8 the the DET emaj-17 264 9 white white ADJ emaj-17 264 10 paper paper NOUN emaj-17 264 11 on on ADP emaj-17 264 12 corporate corporate ADJ emaj-17 264 13 governance governance NOUN emaj-17 264 14 in in ADP emaj-17 264 15 asia asia PROPN emaj-17 264 16 ” " PUNCT emaj-17 264 17 states state VERB emaj-17 264 18 that that SCONJ emaj-17 264 19 awareness awareness NOUN emaj-17 264 20 of of ADP emaj-17 264 21 the the DET emaj-17 264 22 importance importance NOUN emaj-17 264 23 of of ADP emaj-17 264 24 corporate corporate ADJ emaj-17 264 25 governance governance NOUN emaj-17 264 26 has have AUX emaj-17 264 27 increased increase VERB emaj-17 264 28 considerably considerably ADV emaj-17 264 29 in in ADP emaj-17 264 30 indonesia indonesia PROPN emaj-17 264 31 . . PUNCT emaj-17 265 1 regulations regulation NOUN emaj-17 265 2 regarding regard VERB emaj-17 265 3 roles role NOUN emaj-17 265 4 of of ADP emaj-17 265 5 independent independent ADJ emaj-17 265 6 commissioners commissioner NOUN emaj-17 265 7 ( ( PUNCT emaj-17 265 8 supervisory supervisory ADJ emaj-17 265 9 directors director NOUN emaj-17 265 10 ) ) PUNCT emaj-17 265 11 have have AUX emaj-17 265 12 been be AUX emaj-17 265 13 introduced introduce VERB emaj-17 265 14 to to PART emaj-17 265 15 improve improve VERB emaj-17 265 16 board board NOUN emaj-17 265 17 practice practice NOUN emaj-17 265 18 and and CCONJ emaj-17 265 19 strengthen strengthen VERB emaj-17 265 20 the the DET emaj-17 265 21 protection protection NOUN emaj-17 265 22 of of ADP emaj-17 265 23 non non ADJ emaj-17 265 24 - - ADJ emaj-17 265 25 controlling controlling ADJ emaj-17 265 26 shareholders shareholder NOUN emaj-17 265 27 . . PUNCT emaj-17 266 1 ( ( PUNCT emaj-17 266 2 estandardsforum estandardsforum NOUN emaj-17 266 3 , , PUNCT emaj-17 266 4 2009 2009 NUM emaj-17 266 5 ) ) PUNCT emaj-17 266 6 mexico mexico PROPN emaj-17 266 7 has have AUX emaj-17 266 8 achieved achieve VERB emaj-17 266 9 medium medium ADJ emaj-17 266 10 compliance compliance NOUN emaj-17 266 11 and and CCONJ emaj-17 266 12 “ " PUNCT emaj-17 266 13 enacted enact VERB emaj-17 266 14 ” " PUNCT emaj-17 266 15 status status NOUN emaj-17 266 16 . . PUNCT emaj-17 267 1 according accord VERB emaj-17 267 2 to to ADP emaj-17 267 3 the the DET emaj-17 267 4 world world NOUN emaj-17 267 5 bank bank PROPN emaj-17 267 6 and and CCONJ emaj-17 267 7 the the DET emaj-17 267 8 institute institute NOUN emaj-17 267 9 of of ADP emaj-17 267 10 international international PROPN emaj-17 267 11 finance finance NOUN emaj-17 267 12 , , PUNCT emaj-17 267 13 major major ADJ emaj-17 267 14 progress progress NOUN emaj-17 267 15 had have AUX emaj-17 267 16 been be AUX emaj-17 267 17 achieved achieve VERB emaj-17 267 18 by by ADP emaj-17 267 19 mexico mexico PROPN emaj-17 267 20 in in ADP emaj-17 267 21 establishing establish VERB emaj-17 267 22 a a DET emaj-17 267 23 successful successful ADJ emaj-17 267 24 structure structure NOUN emaj-17 267 25 and and CCONJ emaj-17 267 26 culture culture NOUN emaj-17 267 27 for for ADP emaj-17 267 28 good good ADJ emaj-17 267 29 corporate corporate ADJ emaj-17 267 30 governance governance NOUN emaj-17 267 31 . . PUNCT emaj-17 268 1 the the DET emaj-17 268 2 world world PROPN emaj-17 268 3 bank bank PROPN emaj-17 268 4 rated rate VERB emaj-17 268 5 most most ADJ emaj-17 268 6 principles principle NOUN emaj-17 268 7 as as ADP emaj-17 268 8 either either CCONJ emaj-17 268 9 “ " PUNCT emaj-17 268 10 largely largely ADV emaj-17 268 11 observed observe VERB emaj-17 268 12 ” " PUNCT emaj-17 268 13 or or CCONJ emaj-17 268 14 “ " PUNCT emaj-17 268 15 partially partially ADV emaj-17 268 16 observed observe VERB emaj-17 268 17 , , PUNCT emaj-17 268 18 ” " PUNCT emaj-17 268 19 indicating indicate VERB emaj-17 268 20 either either CCONJ emaj-17 268 21 only only ADJ emaj-17 268 22 minor minor ADJ emaj-17 268 23 shortcomings shortcoming NOUN emaj-17 268 24 or or CCONJ emaj-17 268 25 a a DET emaj-17 268 26 legal legal ADJ emaj-17 268 27 and and CCONJ emaj-17 268 28 regulatory regulatory ADJ emaj-17 268 29 framework framework NOUN emaj-17 268 30 that that PRON emaj-17 268 31 complies comply VERB emaj-17 268 32 with with ADP emaj-17 268 33 the the DET emaj-17 268 34 principles principle NOUN emaj-17 268 35 , , PUNCT emaj-17 268 36 but but CCONJ emaj-17 268 37 suffers suffer VERB emaj-17 268 38 from from ADP emaj-17 268 39 diverging diverge VERB emaj-17 268 40 practices practice NOUN emaj-17 268 41 and and CCONJ emaj-17 268 42 a a DET emaj-17 268 43 lack lack NOUN emaj-17 268 44 of of ADP emaj-17 268 45 enforcement enforcement NOUN emaj-17 268 46 . . PUNCT emaj-17 269 1 the the DET emaj-17 269 2 country country NOUN emaj-17 269 3 was be AUX emaj-17 269 4 cautioned caution VERB emaj-17 269 5 that that SCONJ emaj-17 269 6 real real ADJ emaj-17 269 7 progress progress NOUN emaj-17 269 8 in in ADP emaj-17 269 9 corporate corporate ADJ emaj-17 269 10 governance governance NOUN emaj-17 269 11 has have VERB emaj-17 269 12 to to PART emaj-17 269 13 account account VERB emaj-17 269 14 for for ADP emaj-17 269 15 the the DET emaj-17 269 16 concentrated concentrated ADJ emaj-17 269 17 ownership ownership NOUN emaj-17 269 18 and and CCONJ emaj-17 269 19 control control NOUN emaj-17 269 20 structure structure NOUN emaj-17 269 21 of of ADP emaj-17 269 22 many many ADJ emaj-17 269 23 mexican mexican ADJ emaj-17 269 24 firms firm NOUN emaj-17 269 25 . . PUNCT emaj-17 270 1 mexican mexican ADJ emaj-17 270 2 business business NOUN emaj-17 270 3 environment environment NOUN emaj-17 270 4 is be AUX emaj-17 270 5 still still ADV emaj-17 270 6 characterized characterize VERB emaj-17 270 7 by by ADP emaj-17 270 8 concentrated concentrated ADJ emaj-17 270 9 ownership ownership NOUN emaj-17 270 10 , , PUNCT emaj-17 270 11 interlocked interlocked ADJ emaj-17 270 12 boards board NOUN emaj-17 270 13 of of ADP emaj-17 270 14 directors director NOUN emaj-17 270 15 , , PUNCT emaj-17 270 16 inadequate inadequate ADJ emaj-17 270 17 insider insider NOUN emaj-17 270 18 trading trading NOUN emaj-17 270 19 enforcement enforcement NOUN emaj-17 270 20 , , PUNCT emaj-17 270 21 and and CCONJ emaj-17 270 22 an an DET emaj-17 270 23 overall overall ADJ emaj-17 270 24 poor poor ADJ emaj-17 270 25 protection protection NOUN emaj-17 270 26 of of ADP emaj-17 270 27 minority minority NOUN emaj-17 270 28 investors investor NOUN emaj-17 270 29 . . PUNCT emaj-17 271 1 ( ( PUNCT emaj-17 271 2 estandardsforum estandardsforum NOUN emaj-17 271 3 , , PUNCT emaj-17 271 4 2010 2010 NUM emaj-17 271 5 ) ) PUNCT emaj-17 271 6 quadrant quadrant VERB emaj-17 271 7 3 3 NUM emaj-17 271 8 countries country NOUN emaj-17 271 9 in in ADP emaj-17 271 10 quadrant quadrant ADJ emaj-17 271 11 3 3 NUM emaj-17 271 12 are be AUX emaj-17 271 13 characterized characterize VERB emaj-17 271 14 as as ADP emaj-17 271 15 having have VERB emaj-17 271 16 the the DET emaj-17 271 17 least least ADJ emaj-17 271 18 amount amount NOUN emaj-17 271 19 of of ADP emaj-17 271 20 corruption corruption NOUN emaj-17 271 21 and and CCONJ emaj-17 271 22 the the DET emaj-17 271 23 least least ADJ emaj-17 271 24 amount amount NOUN emaj-17 271 25 of of ADP emaj-17 271 26 compliance compliance NOUN emaj-17 271 27 to to ADP emaj-17 271 28 global global ADJ emaj-17 271 29 standards standard NOUN emaj-17 271 30 and and CCONJ emaj-17 271 31 codes code NOUN emaj-17 271 32 with with ADP emaj-17 271 33 regard regard NOUN emaj-17 271 34 to to ADP emaj-17 271 35 corporate corporate ADJ emaj-17 271 36 governance governance NOUN emaj-17 271 37 . . PUNCT emaj-17 272 1 the the DET emaj-17 272 2 united united PROPN emaj-17 272 3 arab arab PROPN emaj-17 272 4 emirates emirates PROPN emaj-17 272 5 ( ( PUNCT emaj-17 272 6 uae uae PROPN emaj-17 272 7 ) ) PUNCT emaj-17 272 8 is be AUX emaj-17 272 9 the the DET emaj-17 272 10 only only ADJ emaj-17 272 11 profiled profile VERB emaj-17 272 12 rde rde PROPN emaj-17 272 13 country country NOUN emaj-17 272 14 in in ADP emaj-17 272 15 this this DET emaj-17 272 16 quadrant quadrant NOUN emaj-17 272 17 holding hold VERB emaj-17 272 18 “ " PUNCT emaj-17 272 19 intent intent NOUN emaj-17 272 20 declared declare VERB emaj-17 272 21 ” " PUNCT emaj-17 272 22 status status NOUN emaj-17 272 23 and and CCONJ emaj-17 272 24 a a DET emaj-17 272 25 low low ADJ emaj-17 272 26 compliance compliance NOUN emaj-17 272 27 rating rating NOUN emaj-17 272 28 . . PUNCT emaj-17 273 1 the the DET emaj-17 273 2 united united PROPN emaj-17 273 3 arab arab PROPN emaj-17 273 4 emirates emirates PROPN emaj-17 273 5 code code PROPN emaj-17 273 6 of of ADP emaj-17 273 7 corporate corporate ADJ emaj-17 273 8 governance governance NOUN emaj-17 273 9 was be AUX emaj-17 273 10 created create VERB emaj-17 273 11 by by ADP emaj-17 273 12 the the DET emaj-17 273 13 emirates emirates PROPN emaj-17 273 14 securities securities PROPN emaj-17 273 15 and and CCONJ emaj-17 273 16 commodities commodity NOUN emaj-17 273 17 authority authority NOUN emaj-17 273 18 for for ADP emaj-17 273 19 listed list VERB emaj-17 273 20 companies company NOUN emaj-17 273 21 in in ADP emaj-17 273 22 may may PROPN emaj-17 273 23 of of ADP emaj-17 273 24 2007 2007 NUM emaj-17 273 25 . . PUNCT emaj-17 274 1 the the DET emaj-17 274 2 abu abu PROPN emaj-17 274 3 dhabi dhabi PROPN emaj-17 274 4 the the DET emaj-17 274 5 influence influence NOUN emaj-17 274 6 of of ADP emaj-17 274 7 corruption corruption NOUN emaj-17 274 8 on on ADP emaj-17 274 9 corporate corporate ADJ emaj-17 274 10 governance governance NOUN emaj-17 274 11 standards standard NOUN emaj-17 274 12 : : PUNCT emaj-17 274 13 shared share VERB emaj-17 274 14 characteristics characteristic NOUN emaj-17 274 15 of of ADP emaj-17 274 16 rapidly rapidly ADV emaj-17 274 17 developing develop VERB emaj-17 274 18 economies economy NOUN emaj-17 274 19 emerging emerge VERB emaj-17 274 20 markets market NOUN emaj-17 274 21 journal journal NOUN emaj-17 275 1 | | ADV emaj-17 275 2 p p NOUN emaj-17 275 3 a a PRON emaj-17 275 4 g g NOUN emaj-17 275 5 e e NOUN emaj-17 275 6 | | ADV emaj-17 275 7 33 33 NUM emaj-17 275 8 volume volume NOUN emaj-17 275 9 2 2 NUM emaj-17 275 10 ( ( PUNCT emaj-17 275 11 2012 2012 NUM emaj-17 275 12 ) ) PUNCT emaj-17 275 13 | | ADV emaj-17 275 14 issn issn VERB emaj-17 275 15 2158 2158 NUM emaj-17 275 16 - - SYM emaj-17 275 17 8708 8708 NUM emaj-17 275 18 ( ( PUNCT emaj-17 275 19 online online NOUN emaj-17 275 20 ) ) PUNCT emaj-17 276 1 | | ADV emaj-17 276 2 doi doi X emaj-17 276 3 10.5195 10.5195 NUM emaj-17 276 4 / / SYM emaj-17 276 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 277 1 | | NOUN emaj-17 277 2 http://emaj.pitt.edu http://emaj.pitt.edu PROPN emaj-17 277 3 securities security NOUN emaj-17 277 4 exchange exchange PROPN emaj-17 277 5 , , PUNCT emaj-17 277 6 the the DET emaj-17 277 7 dubai dubai NOUN emaj-17 277 8 financial financial ADJ emaj-17 277 9 market market NOUN emaj-17 277 10 and and CCONJ emaj-17 277 11 the the DET emaj-17 277 12 uae uae PROPN emaj-17 277 13 ministry ministry PROPN emaj-17 277 14 of of ADP emaj-17 277 15 economy economy NOUN emaj-17 277 16 have have AUX emaj-17 277 17 produced produce VERB emaj-17 277 18 and and CCONJ emaj-17 277 19 circulated circulate VERB emaj-17 277 20 draft draft NOUN emaj-17 277 21 corporate corporate ADJ emaj-17 277 22 governance governance NOUN emaj-17 277 23 guidelines guideline NOUN emaj-17 277 24 and and CCONJ emaj-17 277 25 regulations regulation NOUN emaj-17 277 26 . . PUNCT emaj-17 278 1 corporate corporate ADJ emaj-17 278 2 governance governance NOUN emaj-17 278 3 codes code NOUN emaj-17 278 4 and and CCONJ emaj-17 278 5 guidelines guideline NOUN emaj-17 278 6 are be AUX emaj-17 278 7 also also ADV emaj-17 278 8 promoted promote VERB emaj-17 278 9 throughout throughout ADP emaj-17 278 10 the the DET emaj-17 278 11 region region NOUN emaj-17 278 12 . . PUNCT emaj-17 279 1 as as SCONJ emaj-17 279 2 the the DET emaj-17 279 3 capital capital NOUN emaj-17 279 4 markets market NOUN emaj-17 279 5 strengthen strengthen VERB emaj-17 279 6 and and CCONJ emaj-17 279 7 mature mature VERB emaj-17 279 8 in in ADP emaj-17 279 9 this this DET emaj-17 279 10 country country NOUN emaj-17 279 11 , , PUNCT emaj-17 279 12 the the DET emaj-17 279 13 imf imf PROPN emaj-17 279 14 is be AUX emaj-17 279 15 encouraging encourage VERB emaj-17 279 16 their their PRON emaj-17 279 17 authorities authority NOUN emaj-17 279 18 to to PART emaj-17 279 19 “ " PUNCT emaj-17 279 20 allow allow VERB emaj-17 279 21 foreign foreign ADJ emaj-17 279 22 investors investor NOUN emaj-17 279 23 to to PART emaj-17 279 24 fully fully ADV emaj-17 279 25 access access VERB emaj-17 279 26 the the DET emaj-17 279 27 securities security NOUN emaj-17 279 28 markets market NOUN emaj-17 279 29 by by ADP emaj-17 279 30 removing remove VERB emaj-17 279 31 restrictions restriction NOUN emaj-17 279 32 on on ADP emaj-17 279 33 stock stock NOUN emaj-17 279 34 ownership ownership NOUN emaj-17 279 35 and and CCONJ emaj-17 279 36 board board NOUN emaj-17 279 37 membership membership NOUN emaj-17 279 38 . . PUNCT emaj-17 280 1 it it PRON emaj-17 280 2 added add VERB emaj-17 280 3 that that SCONJ emaj-17 280 4 the the DET emaj-17 280 5 authorities authority NOUN emaj-17 280 6 should should AUX emaj-17 280 7 foster foster VERB emaj-17 280 8 the the DET emaj-17 280 9 public public ADJ emaj-17 280 10 listing listing NOUN emaj-17 280 11 of of ADP emaj-17 280 12 large large ADJ emaj-17 280 13 , , PUNCT emaj-17 280 14 quasi quasi ADJ emaj-17 280 15 - - ADJ emaj-17 280 16 public public ADJ emaj-17 280 17 companies company NOUN emaj-17 280 18 on on ADP emaj-17 280 19 the the DET emaj-17 280 20 stock stock NOUN emaj-17 280 21 exchanges exchange NOUN emaj-17 280 22 to to PART emaj-17 280 23 help help VERB emaj-17 280 24 develop develop VERB emaj-17 280 25 the the DET emaj-17 280 26 market market NOUN emaj-17 280 27 ” " PUNCT emaj-17 280 28 ( ( PUNCT emaj-17 280 29 imf imf PROPN emaj-17 280 30 , , PUNCT emaj-17 280 31 2007 2007 NUM emaj-17 280 32 ) ) PUNCT emaj-17 280 33 . . PUNCT emaj-17 281 1 “ " PUNCT emaj-17 281 2 a a DET emaj-17 281 3 new new ADJ emaj-17 281 4 companies company NOUN emaj-17 281 5 and and CCONJ emaj-17 281 6 commercial commercial ADJ emaj-17 281 7 activities activity NOUN emaj-17 281 8 law law NOUN emaj-17 281 9 is be AUX emaj-17 281 10 expected expect VERB emaj-17 281 11 to to PART emaj-17 281 12 be be AUX emaj-17 281 13 introduced introduce VERB emaj-17 281 14 at at ADP emaj-17 281 15 the the DET emaj-17 281 16 end end NOUN emaj-17 281 17 of of ADP emaj-17 281 18 2008 2008 NUM emaj-17 281 19 , , PUNCT emaj-17 281 20 allowing allow VERB emaj-17 281 21 100 100 NUM emaj-17 281 22 percent percent NOUN emaj-17 281 23 foreign foreign ADJ emaj-17 281 24 ownership ownership NOUN emaj-17 281 25 of of ADP emaj-17 281 26 companies company NOUN emaj-17 281 27 in in ADP emaj-17 281 28 some some DET emaj-17 281 29 sectors sector NOUN emaj-17 281 30 outside outside ADP emaj-17 281 31 the the DET emaj-17 281 32 free free ADJ emaj-17 281 33 trade trade NOUN emaj-17 281 34 zones zone NOUN emaj-17 281 35 ” " PUNCT emaj-17 281 36 ( ( PUNCT emaj-17 281 37 estandardsforum estandardsforum NOUN emaj-17 281 38 , , PUNCT emaj-17 281 39 2008 2008 NUM emaj-17 281 40 ) ) PUNCT emaj-17 281 41 . . PUNCT emaj-17 282 1 quadrant quadrant ADJ emaj-17 282 2 4 4 NUM emaj-17 282 3 this this PRON emaj-17 282 4 is be AUX emaj-17 282 5 the the DET emaj-17 282 6 most most ADV emaj-17 282 7 desirable desirable ADJ emaj-17 282 8 quadrant quadrant NOUN emaj-17 282 9 , , PUNCT emaj-17 282 10 which which PRON emaj-17 282 11 is be AUX emaj-17 282 12 characterized characterize VERB emaj-17 282 13 by by ADP emaj-17 282 14 having have VERB emaj-17 282 15 the the DET emaj-17 282 16 least least ADJ emaj-17 282 17 corruption corruption NOUN emaj-17 282 18 and and CCONJ emaj-17 282 19 most most ADJ emaj-17 282 20 compliance compliance NOUN emaj-17 282 21 to to ADP emaj-17 282 22 global global ADJ emaj-17 282 23 standards standard NOUN emaj-17 282 24 and and CCONJ emaj-17 282 25 codes code NOUN emaj-17 282 26 with with ADP emaj-17 282 27 regard regard NOUN emaj-17 282 28 to to ADP emaj-17 282 29 corporate corporate ADJ emaj-17 282 30 governance governance NOUN emaj-17 282 31 . . PUNCT emaj-17 283 1 chile chile PROPN emaj-17 283 2 is be AUX emaj-17 283 3 the the DET emaj-17 283 4 only only ADJ emaj-17 283 5 profiled profile VERB emaj-17 283 6 rde rde NOUN emaj-17 283 7 in in ADP emaj-17 283 8 this this DET emaj-17 283 9 quadrant quadrant NOUN emaj-17 283 10 attaining attain VERB emaj-17 283 11 “ " PUNCT emaj-17 283 12 enacted enact VERB emaj-17 283 13 ” " PUNCT emaj-17 283 14 status status NOUN emaj-17 283 15 and and CCONJ emaj-17 283 16 a a DET emaj-17 283 17 high high ADJ emaj-17 283 18 level level NOUN emaj-17 283 19 of of ADP emaj-17 283 20 compliance compliance NOUN emaj-17 283 21 . . PUNCT emaj-17 284 1 according accord VERB emaj-17 284 2 to to ADP emaj-17 284 3 a a DET emaj-17 284 4 2003 2003 NUM emaj-17 284 5 world world NOUN emaj-17 284 6 bank bank PROPN emaj-17 284 7 assessment assessment NOUN emaj-17 284 8 of of ADP emaj-17 284 9 chilean chilean ADJ emaj-17 284 10 corporate corporate ADJ emaj-17 284 11 governance governance NOUN emaj-17 284 12 practices practice NOUN emaj-17 284 13 , , PUNCT emaj-17 284 14 chile chile NOUN emaj-17 284 15 scores score NOUN emaj-17 284 16 well well ADV emaj-17 284 17 on on ADP emaj-17 284 18 the the DET emaj-17 284 19 assessment assessment NOUN emaj-17 284 20 on on ADP emaj-17 284 21 compliance compliance NOUN emaj-17 284 22 with with ADP emaj-17 284 23 the the DET emaj-17 284 24 organization organization NOUN emaj-17 284 25 for for ADP emaj-17 284 26 economic economic ADJ emaj-17 284 27 cooperation cooperation NOUN emaj-17 284 28 and and CCONJ emaj-17 284 29 development development NOUN emaj-17 284 30 ( ( PUNCT emaj-17 284 31 oecd oecd PROPN emaj-17 284 32 ) ) PUNCT emaj-17 284 33 principles principle NOUN emaj-17 284 34 . . PUNCT emaj-17 285 1 nonetheless nonetheless ADV emaj-17 285 2 , , PUNCT emaj-17 285 3 certain certain ADJ emaj-17 285 4 weaknesses weakness NOUN emaj-17 285 5 were be AUX emaj-17 285 6 identified identify VERB emaj-17 285 7 and and CCONJ emaj-17 285 8 the the DET emaj-17 285 9 world world NOUN emaj-17 285 10 bank bank PROPN emaj-17 285 11 made make VERB emaj-17 285 12 policy policy NOUN emaj-17 285 13 recommendations recommendation NOUN emaj-17 285 14 in in ADP emaj-17 285 15 three three NUM emaj-17 285 16 broad broad ADJ emaj-17 285 17 areas area NOUN emaj-17 285 18 relating relate VERB emaj-17 285 19 to to ADP emaj-17 285 20 legislative legislative ADJ emaj-17 285 21 reform reform NOUN emaj-17 285 22 , , PUNCT emaj-17 285 23 institutional institutional ADJ emaj-17 285 24 strengthening strengthening NOUN emaj-17 285 25 , , PUNCT emaj-17 285 26 and and CCONJ emaj-17 285 27 voluntary voluntary ADJ emaj-17 285 28 / / SYM emaj-17 285 29 private private ADJ emaj-17 285 30 initiatives initiative NOUN emaj-17 285 31 . . PUNCT emaj-17 286 1 the the DET emaj-17 286 2 world world PROPN emaj-17 286 3 bank bank PROPN emaj-17 286 4 recommended recommend VERB emaj-17 286 5 amending amend VERB emaj-17 286 6 the the DET emaj-17 286 7 legislative legislative ADJ emaj-17 286 8 framework framework NOUN emaj-17 286 9 to to PART emaj-17 286 10 achieve achieve VERB emaj-17 286 11 greater great ADJ emaj-17 286 12 transparency transparency NOUN emaj-17 286 13 and and CCONJ emaj-17 286 14 strengthening strengthen VERB emaj-17 286 15 the the DET emaj-17 286 16 market market NOUN emaj-17 286 17 surveillance surveillance NOUN emaj-17 286 18 mechanisms mechanism NOUN emaj-17 286 19 . . PUNCT emaj-17 287 1 improvements improvement NOUN emaj-17 287 2 in in ADP emaj-17 287 3 the the DET emaj-17 287 4 general general ADJ emaj-17 287 5 enforcement enforcement NOUN emaj-17 287 6 of of ADP emaj-17 287 7 investor investor NOUN emaj-17 287 8 property property NOUN emaj-17 287 9 rights right NOUN emaj-17 287 10 were be AUX emaj-17 287 11 also also ADV emaj-17 287 12 suggested suggest VERB emaj-17 287 13 . . PUNCT emaj-17 288 1 ownership ownership NOUN emaj-17 288 2 is be AUX emaj-17 288 3 highly highly ADV emaj-17 288 4 concentrated concentrated ADJ emaj-17 288 5 and and CCONJ emaj-17 288 6 that that SCONJ emaj-17 288 7 minority minority NOUN emaj-17 288 8 shareholder shareholder NOUN emaj-17 288 9 dissatisfaction dissatisfaction NOUN emaj-17 288 10 is be AUX emaj-17 288 11 " " PUNCT emaj-17 288 12 substantial substantial ADJ emaj-17 288 13 " " PUNCT emaj-17 288 14 , , PUNCT emaj-17 288 15 however however ADV emaj-17 288 16 , , PUNCT emaj-17 288 17 chile chile PROPN emaj-17 288 18 has have AUX emaj-17 288 19 been be AUX emaj-17 288 20 taking take VERB emaj-17 288 21 initiatives initiative NOUN emaj-17 288 22 to to PART emaj-17 288 23 achieve achieve VERB emaj-17 288 24 greater great ADJ emaj-17 288 25 convergence convergence NOUN emaj-17 288 26 with with ADP emaj-17 288 27 international international ADJ emaj-17 288 28 practices practice NOUN emaj-17 288 29 . . PUNCT emaj-17 289 1 law law NOUN emaj-17 289 2 no no NOUN emaj-17 289 3 . . NOUN emaj-17 289 4 19,705 19,705 NUM emaj-17 289 5 known know VERB emaj-17 289 6 as as ADP emaj-17 289 7 the the DET emaj-17 289 8 corporate corporate ADJ emaj-17 289 9 governance governance NOUN emaj-17 289 10 law law NOUN emaj-17 289 11 was be AUX emaj-17 289 12 introduced introduce VERB emaj-17 289 13 in in ADP emaj-17 289 14 2000 2000 NUM emaj-17 289 15 with with ADP emaj-17 289 16 the the DET emaj-17 289 17 main main ADJ emaj-17 289 18 goal goal NOUN emaj-17 289 19 to to PART emaj-17 289 20 protect protect VERB emaj-17 289 21 minority minority NOUN emaj-17 289 22 shareholder shareholder NOUN emaj-17 289 23 rights right NOUN emaj-17 289 24 in in ADP emaj-17 289 25 chilean chilean ADJ emaj-17 289 26 companies company NOUN emaj-17 289 27 , , PUNCT emaj-17 289 28 especially especially ADV emaj-17 289 29 during during ADP emaj-17 289 30 changes change NOUN emaj-17 289 31 in in ADP emaj-17 289 32 corporate corporate ADJ emaj-17 289 33 control control NOUN emaj-17 289 34 . . PUNCT emaj-17 290 1 ( ( PUNCT emaj-17 290 2 estandardsforum estandardsforum NOUN emaj-17 290 3 , , PUNCT emaj-17 290 4 2008 2008 NUM emaj-17 290 5 ) ) PUNCT emaj-17 291 1 v. v. ADP emaj-17 291 2 concluding conclude VERB emaj-17 291 3     SPACE emaj-17 291 4 remarks remark NOUN emaj-17 291 5     SPACE emaj-17 291 6 entrepreneurship entrepreneurship NOUN emaj-17 291 7 is be AUX emaj-17 291 8 abundant abundant ADJ emaj-17 291 9 and and CCONJ emaj-17 291 10 even even ADV emaj-17 291 11 thriving thrive VERB emaj-17 291 12 in in ADP emaj-17 291 13 rdes rde NOUN emaj-17 291 14 despite despite SCONJ emaj-17 291 15 obvious obvious ADJ emaj-17 291 16 corruption corruption NOUN emaj-17 291 17 and and CCONJ emaj-17 291 18 varying vary VERB emaj-17 291 19 levels level NOUN emaj-17 291 20 of of ADP emaj-17 291 21 compliance compliance NOUN emaj-17 291 22 with with ADP emaj-17 291 23 corporate corporate ADJ emaj-17 291 24 governance governance NOUN emaj-17 291 25 standards standard NOUN emaj-17 291 26 . . PUNCT emaj-17 292 1 the the DET emaj-17 292 2 race race NOUN emaj-17 292 3 to to PART emaj-17 292 4 provide provide VERB emaj-17 292 5 the the DET emaj-17 292 6 infrastructure infrastructure NOUN emaj-17 292 7 necessary necessary ADJ emaj-17 292 8 for for SCONJ emaj-17 292 9 these these DET emaj-17 292 10 businesses business NOUN emaj-17 292 11 to to PART emaj-17 292 12 prosper prosper VERB emaj-17 292 13 is be AUX emaj-17 292 14 well well ADV emaj-17 292 15 under under ADP emaj-17 292 16 way way NOUN emaj-17 292 17 to to PART emaj-17 292 18 ensure ensure VERB emaj-17 292 19 business business NOUN emaj-17 292 20 efficiency efficiency NOUN emaj-17 292 21 . . PUNCT emaj-17 293 1 assurances assurance NOUN emaj-17 293 2 of of ADP emaj-17 293 3 safeguards safeguard NOUN emaj-17 293 4 to to PART emaj-17 293 5 protect protect VERB emaj-17 293 6 valuable valuable ADJ emaj-17 293 7 assets asset NOUN emaj-17 293 8 of of ADP emaj-17 293 9 multinationals multinational NOUN emaj-17 293 10 must must AUX emaj-17 293 11 be be AUX emaj-17 293 12 in in ADP emaj-17 293 13 place place NOUN emaj-17 293 14 in in ADP emaj-17 293 15 order order NOUN emaj-17 293 16 to to PART emaj-17 293 17 continue continue VERB emaj-17 293 18 to to PART emaj-17 293 19 attract attract VERB emaj-17 293 20 and and CCONJ emaj-17 293 21 retain retain VERB emaj-17 293 22 foreign foreign ADJ emaj-17 293 23 direct direct ADJ emaj-17 293 24 investment investment NOUN emaj-17 293 25 in in ADP emaj-17 293 26 these these DET emaj-17 293 27 countries country NOUN emaj-17 293 28 . . PUNCT emaj-17 294 1 the the DET emaj-17 294 2 organization organization NOUN emaj-17 294 3 for for ADP emaj-17 294 4 economic economic ADJ emaj-17 294 5 cooperation cooperation NOUN emaj-17 294 6 and and CCONJ emaj-17 294 7 development development NOUN emaj-17 294 8 ( ( PUNCT emaj-17 294 9 oecd oecd PROPN emaj-17 294 10 ) ) PUNCT emaj-17 294 11 and and CCONJ emaj-17 294 12 the the DET emaj-17 294 13 report report NOUN emaj-17 294 14 on on ADP emaj-17 294 15 observance observance NOUN emaj-17 294 16 of of ADP emaj-17 294 17 standards standard NOUN emaj-17 294 18 and and CCONJ emaj-17 294 19 codes code NOUN emaj-17 294 20 ( ( PUNCT emaj-17 294 21 rosc rosc ADJ emaj-17 294 22 ) ) PUNCT emaj-17 294 23 on on ADP emaj-17 294 24 corporate corporate ADJ emaj-17 294 25 governance governance NOUN emaj-17 294 26 practices practice NOUN emaj-17 294 27 advise advise VERB emaj-17 294 28 many many ADJ emaj-17 294 29 of of ADP emaj-17 294 30 the the DET emaj-17 294 31 profiled profile VERB emaj-17 294 32 countries country NOUN emaj-17 294 33 to to PART emaj-17 294 34 enforce enforce VERB emaj-17 294 35 disclosure disclosure NOUN emaj-17 294 36 and and CCONJ emaj-17 294 37 reporting reporting NOUN emaj-17 294 38 requirements requirement NOUN emaj-17 294 39 in in ADP emaj-17 294 40 a a DET emaj-17 294 41 continuous continuous ADJ emaj-17 294 42 and and CCONJ emaj-17 294 43 consistent consistent ADJ emaj-17 294 44 manner manner NOUN emaj-17 294 45 , , PUNCT emaj-17 294 46 to to PART emaj-17 294 47 strengthen strengthen VERB emaj-17 294 48 directors director NOUN emaj-17 294 49 ' ' PART emaj-17 294 50 independence independence NOUN emaj-17 294 51 and and CCONJ emaj-17 294 52 accountability accountability NOUN emaj-17 294 53 to to ADP emaj-17 294 54 investors investor NOUN emaj-17 294 55 , , PUNCT emaj-17 294 56 and and CCONJ emaj-17 294 57 to to PART emaj-17 294 58 enhance enhance VERB emaj-17 294 59 the the DET emaj-17 294 60 role role NOUN emaj-17 294 61 of of ADP emaj-17 294 62 institutional institutional ADJ emaj-17 294 63 investors investor NOUN emaj-17 294 64 and and CCONJ emaj-17 294 65 shareholder shareholder NOUN emaj-17 294 66 activism activism NOUN emaj-17 294 67 in in ADP emaj-17 294 68 the the DET emaj-17 294 69 corporate corporate ADJ emaj-17 294 70 governance governance NOUN emaj-17 294 71 framework framework NOUN emaj-17 294 72 ( ( PUNCT emaj-17 294 73 estandardsforum estandardsforum NOUN emaj-17 294 74 , , PUNCT emaj-17 294 75 2009 2009 NUM emaj-17 294 76 ) ) PUNCT emaj-17 294 77 . . PUNCT emaj-17 295 1 a a DET emaj-17 295 2 majority majority NOUN emaj-17 295 3 of of ADP emaj-17 295 4 the the DET emaj-17 295 5 leading lead VERB emaj-17 295 6 firms firm NOUN emaj-17 295 7 in in ADP emaj-17 295 8 the the DET emaj-17 295 9 profiled profile VERB emaj-17 295 10 countries country NOUN emaj-17 295 11 are be AUX emaj-17 295 12 family family NOUN emaj-17 295 13 - - PUNCT emaj-17 295 14 controlled control VERB emaj-17 295 15 companies company NOUN emaj-17 295 16 and and CCONJ emaj-17 295 17 have have VERB emaj-17 295 18 elaborate elaborate ADJ emaj-17 295 19 systems system NOUN emaj-17 295 20 and and CCONJ emaj-17 295 21 rules rule NOUN emaj-17 295 22 governing govern VERB emaj-17 295 23 their their PRON emaj-17 295 24 principles principle NOUN emaj-17 295 25 of of ADP emaj-17 295 26 corporate corporate ADJ emaj-17 295 27 governance governance NOUN emaj-17 295 28 . . PUNCT emaj-17 296 1 the the DET emaj-17 296 2 world world PROPN emaj-17 296 3 bank bank PROPN emaj-17 296 4 also also ADV emaj-17 296 5 suggests suggest VERB emaj-17 296 6 improving improve VERB emaj-17 296 7 the the DET emaj-17 296 8 effectiveness effectiveness NOUN emaj-17 296 9 of of ADP emaj-17 296 10 implementation implementation NOUN emaj-17 296 11 and and CCONJ emaj-17 296 12 enforcement enforcement NOUN emaj-17 296 13 of of ADP emaj-17 296 14 legislation legislation NOUN emaj-17 296 15 and and CCONJ emaj-17 296 16 regulations regulation NOUN emaj-17 296 17 to to PART emaj-17 296 18 improve improve VERB emaj-17 296 19 the the DET emaj-17 296 20 corporate corporate ADJ emaj-17 296 21 governance governance NOUN emaj-17 296 22 framework framework NOUN emaj-17 296 23 ( ( PUNCT emaj-17 296 24 estandards estandard NOUN emaj-17 296 25 , , PUNCT emaj-17 296 26 2010 2010 NUM emaj-17 296 27 ) ) PUNCT emaj-17 296 28 . . PUNCT emaj-17 297 1 zarb zarb PROPN emaj-17 297 2 ’s ’s PART emaj-17 297 3 study study NOUN emaj-17 297 4 found find VERB emaj-17 297 5 that that SCONJ emaj-17 297 6 a a DET emaj-17 297 7 relationship relationship NOUN emaj-17 297 8 existed exist VERB emaj-17 297 9 between between ADP emaj-17 297 10 corruption corruption NOUN emaj-17 297 11 , , PUNCT emaj-17 297 12 credible credible ADJ emaj-17 297 13 financial financial ADJ emaj-17 297 14 reporting reporting NOUN emaj-17 297 15 , , PUNCT emaj-17 297 16 as as ADV emaj-17 297 17 well well ADV emaj-17 297 18 as as ADP emaj-17 297 19 government government NOUN emaj-17 297 20 intervention intervention NOUN emaj-17 297 21 ( ( PUNCT emaj-17 297 22 2007 2007 NUM emaj-17 297 23 ) ) PUNCT emaj-17 297 24 . . PUNCT emaj-17 298 1 this this PRON emaj-17 298 2 emphasizes emphasize VERB emaj-17 298 3 the the DET emaj-17 298 4 necessity necessity NOUN emaj-17 298 5 of of ADP emaj-17 298 6 adequate adequate ADJ emaj-17 298 7 the the DET emaj-17 298 8 influence influence NOUN emaj-17 298 9 of of ADP emaj-17 298 10 corruption corruption NOUN emaj-17 298 11 on on ADP emaj-17 298 12 corporate corporate ADJ emaj-17 298 13 governance governance NOUN emaj-17 298 14 standards standard NOUN emaj-17 298 15 : : PUNCT emaj-17 298 16 shared share VERB emaj-17 298 17 characteristics characteristic NOUN emaj-17 298 18 of of ADP emaj-17 298 19 rapidly rapidly ADV emaj-17 298 20 developing develop VERB emaj-17 298 21 economies economy NOUN emaj-17 298 22 emerging emerge VERB emaj-17 298 23 markets market NOUN emaj-17 298 24 journal journal NOUN emaj-17 298 25 | | ADV emaj-17 298 26 p p NOUN emaj-17 298 27 a a DET emaj-17 298 28 g g NOUN emaj-17 298 29 e e NOUN emaj-17 298 30 | | ADV emaj-17 298 31 34 34 NUM emaj-17 298 32 volume volume NOUN emaj-17 298 33 2 2 NUM emaj-17 298 34 ( ( PUNCT emaj-17 298 35 2012 2012 NUM emaj-17 298 36 ) ) PUNCT emaj-17 298 37 | | ADV emaj-17 298 38 issn issn VERB emaj-17 298 39 2158 2158 NUM emaj-17 298 40 - - SYM emaj-17 298 41 8708 8708 NUM emaj-17 298 42 ( ( PUNCT emaj-17 298 43 online online NOUN emaj-17 298 44 ) ) PUNCT emaj-17 298 45 | | ADV emaj-17 298 46 doi doi X emaj-17 298 47 10.5195 10.5195 NUM emaj-17 298 48 / / SYM emaj-17 298 49 emaj.2012.17 emaj.2012.17 NOUN emaj-17 298 50 | | NOUN emaj-17 298 51 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 298 52 disclosure disclosure NOUN emaj-17 298 53 and and CCONJ emaj-17 298 54 accurate accurate ADJ emaj-17 298 55 financial financial ADJ emaj-17 298 56 records record NOUN emaj-17 298 57 to to PART emaj-17 298 58 ensure ensure VERB emaj-17 298 59 transparency transparency NOUN emaj-17 298 60 . . PUNCT emaj-17 299 1 according accord VERB emaj-17 299 2 to to ADP emaj-17 299 3 zarb zarb NOUN emaj-17 299 4 , , PUNCT emaj-17 299 5 disclosure disclosure NOUN emaj-17 299 6 not not PART emaj-17 299 7 only only ADV emaj-17 299 8 increases increase VERB emaj-17 299 9 transparency transparency NOUN emaj-17 299 10 , , PUNCT emaj-17 299 11 but but CCONJ emaj-17 299 12 also also ADV emaj-17 299 13 increases increase VERB emaj-17 299 14 firm firm ADJ emaj-17 299 15 value value NOUN emaj-17 299 16 which which PRON emaj-17 299 17 in in ADP emaj-17 299 18 turn turn NOUN emaj-17 299 19 increases increase VERB emaj-17 299 20 stock stock NOUN emaj-17 299 21 prices price NOUN emaj-17 299 22 and and CCONJ emaj-17 299 23 reduces reduce VERB emaj-17 299 24 agency agency NOUN emaj-17 299 25 costs cost NOUN emaj-17 299 26 . . PUNCT emaj-17 300 1 therefore therefore ADV emaj-17 300 2 , , PUNCT emaj-17 300 3 zarb zarb PROPN emaj-17 300 4 asserts assert VERB emaj-17 300 5 that that SCONJ emaj-17 300 6 increased increase VERB emaj-17 300 7 disclosure disclosure NOUN emaj-17 300 8 levels level NOUN emaj-17 300 9 may may AUX emaj-17 300 10 lead lead VERB emaj-17 300 11 to to ADP emaj-17 300 12 increased increase VERB emaj-17 300 13 credibility credibility NOUN emaj-17 300 14 and and CCONJ emaj-17 300 15 less less ADJ emaj-17 300 16 corruption corruption NOUN emaj-17 300 17 ( ( PUNCT emaj-17 300 18 2007 2007 NUM emaj-17 300 19 ) ) PUNCT emaj-17 300 20 . . PUNCT emaj-17 301 1 “ " PUNCT emaj-17 301 2 corruption corruption NOUN emaj-17 301 3 is be AUX emaj-17 301 4 corrosive corrosive ADJ emaj-17 301 5 to to ADP emaj-17 301 6 development development NOUN emaj-17 301 7 ” " PUNCT emaj-17 301 8 , , PUNCT emaj-17 301 9 as as SCONJ emaj-17 301 10 stated state VERB emaj-17 301 11 by by ADP emaj-17 301 12 james james PROPN emaj-17 301 13 wolfensohn wolfensohn PROPN emaj-17 301 14 , , PUNCT emaj-17 301 15 president president NOUN emaj-17 301 16 of of ADP emaj-17 301 17 the the DET emaj-17 301 18 world world PROPN emaj-17 301 19 bank bank PROPN emaj-17 301 20 ( ( PUNCT emaj-17 301 21 gloster gloster PROPN emaj-17 301 22 - - PUNCT emaj-17 301 23 coates coates PROPN emaj-17 301 24 & & CCONJ emaj-17 301 25 quest quest PROPN emaj-17 301 26 , , PUNCT emaj-17 301 27 p. p. NOUN emaj-17 301 28 3 3 NUM emaj-17 301 29 ) ) PUNCT emaj-17 301 30 . . PUNCT emaj-17 302 1 year year NOUN emaj-17 302 2 after after ADP emaj-17 302 3 year year NOUN emaj-17 302 4 the the DET emaj-17 302 5 world world PROPN emaj-17 302 6 bank bank PROPN emaj-17 302 7 and and CCONJ emaj-17 302 8 the the DET emaj-17 302 9 international international ADJ emaj-17 302 10 monetary monetary ADJ emaj-17 302 11 fund fund NOUN emaj-17 302 12 have have AUX emaj-17 302 13 demonstrated demonstrate VERB emaj-17 302 14 the the DET emaj-17 302 15 fact fact NOUN emaj-17 302 16 that that SCONJ emaj-17 302 17 corruption corruption NOUN emaj-17 302 18 “ " PUNCT emaj-17 302 19 deters deter VERB emaj-17 302 20 investment investment NOUN emaj-17 302 21 and and CCONJ emaj-17 302 22 retards retard VERB emaj-17 302 23 growth growth NOUN emaj-17 302 24 ” " PUNCT emaj-17 302 25 , , PUNCT emaj-17 302 26 which which PRON emaj-17 302 27 rdes rde VERB emaj-17 302 28 depend depend VERB emaj-17 302 29 on on ADP emaj-17 302 30 ( ( PUNCT emaj-17 302 31 imf imf PROPN emaj-17 302 32 , , PUNCT emaj-17 302 33 n.p n.p PROPN emaj-17 302 34 . . PROPN emaj-17 302 35 ) ) PUNCT emaj-17 302 36 . . PUNCT emaj-17 303 1 the the DET emaj-17 303 2 key key ADJ emaj-17 303 3 findings finding NOUN emaj-17 303 4 of of ADP emaj-17 303 5 this this DET emaj-17 303 6 paper paper NOUN emaj-17 303 7 clearly clearly ADV emaj-17 303 8 demonstrate demonstrate VERB emaj-17 303 9 a a DET emaj-17 303 10 relationship relationship NOUN emaj-17 303 11 between between ADP emaj-17 303 12 levels level NOUN emaj-17 303 13 of of ADP emaj-17 303 14 corruption corruption NOUN emaj-17 303 15 and and CCONJ emaj-17 303 16 their their PRON emaj-17 303 17 effects effect NOUN emaj-17 303 18 on on ADP emaj-17 303 19 corporate corporate ADJ emaj-17 303 20 governance governance NOUN emaj-17 303 21 practices practice NOUN emaj-17 303 22 present present ADJ emaj-17 303 23 in in ADP emaj-17 303 24 rdes rde NOUN emaj-17 303 25 . . PUNCT emaj-17 304 1 corruption corruption NOUN emaj-17 304 2 has have AUX emaj-17 304 3 not not PART emaj-17 304 4 been be AUX emaj-17 304 5 consistently consistently ADV emaj-17 304 6 lower low ADJ emaj-17 304 7 in in ADP emaj-17 304 8 rdes rde NOUN emaj-17 304 9 that that PRON emaj-17 304 10 have have VERB emaj-17 304 11 higher high ADJ emaj-17 304 12 levels level NOUN emaj-17 304 13 of of ADP emaj-17 304 14 compliance compliance NOUN emaj-17 304 15 to to ADP emaj-17 304 16 corporate corporate ADJ emaj-17 304 17 governance governance NOUN emaj-17 304 18 standards standard NOUN emaj-17 304 19 . . PUNCT emaj-17 305 1 also also ADV emaj-17 305 2 , , PUNCT emaj-17 305 3 it it PRON emaj-17 305 4 was be AUX emaj-17 305 5 evident evident ADJ emaj-17 305 6 that that SCONJ emaj-17 305 7 rdes rde NOUN emaj-17 305 8 , , PUNCT emaj-17 305 9 similar similar ADJ emaj-17 305 10 in in ADP emaj-17 305 11 many many ADJ emaj-17 305 12 characteristics characteristic NOUN emaj-17 305 13 that that PRON emaj-17 305 14 endear endear VERB emaj-17 305 15 them they PRON emaj-17 305 16 to to ADP emaj-17 305 17 such such DET emaj-17 305 18 a a DET emaj-17 305 19 term term NOUN emaj-17 305 20 indeed indeed ADV emaj-17 305 21 cluster cluster VERB emaj-17 305 22 with with ADP emaj-17 305 23 specific specific ADJ emaj-17 305 24 regard regard NOUN emaj-17 305 25 to to ADP emaj-17 305 26 their their PRON emaj-17 305 27 level level NOUN emaj-17 305 28 of of ADP emaj-17 305 29 such such ADJ emaj-17 305 30 aforementioned aforementioned ADJ emaj-17 305 31 compliance compliance NOUN emaj-17 305 32 and and CCONJ emaj-17 305 33 levels level NOUN emaj-17 305 34 of of ADP emaj-17 305 35 perceived perceive VERB emaj-17 305 36 corruption corruption NOUN emaj-17 305 37 . . PUNCT emaj-17 306 1 the the DET emaj-17 306 2 best good ADJ emaj-17 306 3 way way NOUN emaj-17 306 4 to to PART emaj-17 306 5 maintain maintain VERB emaj-17 306 6 foreign foreign ADJ emaj-17 306 7 direct direct ADJ emaj-17 306 8 investment investment NOUN emaj-17 306 9 to to ADP emaj-17 306 10 an an DET emaj-17 306 11 already already ADV emaj-17 306 12 attractive attractive ADJ emaj-17 306 13 location location NOUN emaj-17 306 14 in in ADP emaj-17 306 15 terms term NOUN emaj-17 306 16 of of ADP emaj-17 306 17 future future ADJ emaj-17 306 18 growth growth NOUN emaj-17 306 19 , , PUNCT emaj-17 306 20 specifically specifically ADV emaj-17 306 21 rdes rde NOUN emaj-17 306 22 , , PUNCT emaj-17 306 23 would would AUX emaj-17 306 24 be be AUX emaj-17 306 25 to to PART emaj-17 306 26 find find VERB emaj-17 306 27 a a DET emaj-17 306 28 way way NOUN emaj-17 306 29 to to PART emaj-17 306 30 safeguard safeguard VERB emaj-17 306 31 their their PRON emaj-17 306 32 investments investment NOUN emaj-17 306 33 against against ADP emaj-17 306 34 corruption corruption NOUN emaj-17 306 35 and and CCONJ emaj-17 306 36 enact enact VERB emaj-17 306 37 effective effective ADJ emaj-17 306 38 and and CCONJ emaj-17 306 39 efficient efficient ADJ emaj-17 306 40 corporate corporate ADJ emaj-17 306 41 governance governance NOUN emaj-17 306 42 standards standard NOUN emaj-17 306 43 . . PUNCT emaj-17 307 1 vi vi X emaj-17 307 2 . . PUNCT emaj-17 307 3 future future ADJ emaj-17 307 4     SPACE emaj-17 307 5 research research NOUN emaj-17 307 6     SPACE emaj-17 307 7 future future ADJ emaj-17 307 8 studies study NOUN emaj-17 307 9 may may AUX emaj-17 307 10 involve involve VERB emaj-17 307 11 researching research VERB emaj-17 307 12 the the DET emaj-17 307 13 corporate corporate ADJ emaj-17 307 14 governance governance NOUN emaj-17 307 15 structures structure NOUN emaj-17 307 16 of of ADP emaj-17 307 17 the the DET emaj-17 307 18 leading lead VERB emaj-17 307 19 firms firm NOUN emaj-17 307 20 identified identify VERB emaj-17 307 21 as as ADP emaj-17 307 22 “ " PUNCT emaj-17 307 23 top top ADJ emaj-17 307 24 global global ADJ emaj-17 307 25 challengers challenger NOUN emaj-17 307 26 ” " PUNCT emaj-17 307 27 by by ADP emaj-17 307 28 the the DET emaj-17 307 29 boston boston PROPN emaj-17 307 30 consulting consulting PROPN emaj-17 307 31 group group NOUN emaj-17 307 32 , , PUNCT emaj-17 307 33 as as ADV emaj-17 307 34 well well ADV emaj-17 307 35 as as ADP emaj-17 307 36 , , PUNCT emaj-17 307 37 how how SCONJ emaj-17 307 38 the the DET emaj-17 307 39 significance significance NOUN emaj-17 307 40 of of ADP emaj-17 307 41 these these DET emaj-17 307 42 structures structure NOUN emaj-17 307 43 enable enable VERB emaj-17 307 44 and/or and/or CCONJ emaj-17 307 45 sustain sustain VERB emaj-17 307 46 such such ADJ emaj-17 307 47 growth growth NOUN emaj-17 307 48 . . PUNCT emaj-17 308 1 furthermore furthermore ADV emaj-17 308 2 , , PUNCT emaj-17 308 3 future future ADJ emaj-17 308 4 studies study NOUN emaj-17 308 5 may may AUX emaj-17 308 6 also also ADV emaj-17 308 7 probe probe VERB emaj-17 308 8 the the DET emaj-17 308 9 evolution evolution NOUN emaj-17 308 10 of of ADP emaj-17 308 11 insider insider NOUN emaj-17 308 12 and and CCONJ emaj-17 308 13 outsider outsider NOUN emaj-17 308 14 corporate corporate ADJ emaj-17 308 15 governance governance NOUN emaj-17 308 16 systems system NOUN emaj-17 308 17 in in ADP emaj-17 308 18 eastern eastern PROPN emaj-17 308 19 europe europe PROPN emaj-17 308 20 or or CCONJ emaj-17 308 21 asia asia PROPN emaj-17 308 22 , , PUNCT emaj-17 308 23 for for ADP emaj-17 308 24 example example NOUN emaj-17 308 25 , , PUNCT emaj-17 308 26 and and CCONJ emaj-17 308 27 discuss discuss VERB emaj-17 308 28 the the DET emaj-17 308 29 variations variation NOUN emaj-17 308 30 and and CCONJ emaj-17 308 31 differences difference NOUN emaj-17 308 32 in in ADP emaj-17 308 33 these these DET emaj-17 308 34 structures structure NOUN emaj-17 308 35 as as ADV emaj-17 308 36 well well ADV emaj-17 308 37 as as ADP emaj-17 308 38 explore explore VERB emaj-17 308 39 their their PRON emaj-17 308 40 standardization standardization NOUN emaj-17 308 41 . . PUNCT emaj-17 309 1 the the DET emaj-17 309 2 influence influence NOUN emaj-17 309 3 of of ADP emaj-17 309 4 corruption corruption NOUN emaj-17 309 5 on on ADP emaj-17 309 6 corporate corporate ADJ emaj-17 309 7 governance governance NOUN emaj-17 309 8 standards standard NOUN emaj-17 309 9 : : PUNCT emaj-17 309 10 shared share VERB emaj-17 309 11 characteristics characteristic NOUN emaj-17 309 12 of of ADP emaj-17 309 13 rapidly rapidly ADV emaj-17 309 14 developing develop VERB emaj-17 309 15 economies economy NOUN emaj-17 309 16 emerging emerge VERB emaj-17 309 17 markets market NOUN emaj-17 309 18 journal journal NOUN emaj-17 309 19 | | ADV emaj-17 309 20 p p NOUN emaj-17 309 21 a a DET emaj-17 309 22 g g NOUN emaj-17 309 23 e e NOUN emaj-17 309 24 | | ADV emaj-17 309 25 35 35 NUM emaj-17 309 26 volume volume NOUN emaj-17 309 27 2 2 NUM emaj-17 309 28 ( ( PUNCT emaj-17 309 29 2012 2012 NUM emaj-17 309 30 ) ) PUNCT emaj-17 309 31 | | ADV emaj-17 309 32 issn issn VERB emaj-17 309 33 2158 2158 NUM emaj-17 309 34 - - SYM emaj-17 309 35 8708 8708 NUM emaj-17 309 36 ( ( PUNCT emaj-17 309 37 online online NOUN emaj-17 309 38 ) ) PUNCT emaj-17 310 1 | | ADV emaj-17 310 2 doi doi X emaj-17 310 3 10.5195 10.5195 NUM emaj-17 310 4 / / SYM emaj-17 310 5 emaj.2012.17 emaj.2012.17 NOUN emaj-17 310 6 | | NOUN emaj-17 310 7 http://emaj.pitt.edu http://emaj.pitt.edu PROPN emaj-17 310 8 vii vii PROPN emaj-17 310 9 . . PUNCT emaj-17 311 1 references reference NOUN emaj-17 311 2     SPACE emaj-17 311 3 1 1 NUM emaj-17 311 4 . . X emaj-17 312 1 agrawal agrawal PROPN emaj-17 312 2 , , PUNCT emaj-17 312 3 anup anup PROPN emaj-17 312 4 . . PROPN emaj-17 312 5 and and CCONJ emaj-17 312 6 knoeber knoeber PROPN emaj-17 312 7 , , PUNCT emaj-17 312 8 charles charles PROPN emaj-17 312 9 r. r. PROPN emaj-17 312 10 “ " PUNCT emaj-17 312 11 firm firm ADJ emaj-17 312 12 performance performance NOUN emaj-17 312 13 and and CCONJ emaj-17 312 14 mechanisms mechanism NOUN emaj-17 312 15 to to PART emaj-17 312 16 control control VERB emaj-17 312 17 agency agency NOUN emaj-17 312 18 problems problem NOUN emaj-17 312 19 between between ADP emaj-17 312 20 managers manager NOUN emaj-17 312 21 and and CCONJ emaj-17 312 22 shareholders shareholder NOUN emaj-17 312 23 ” " PUNCT emaj-17 312 24 . . PUNCT emaj-17 313 1 journal journal PROPN emaj-17 313 2 of of ADP emaj-17 313 3 financial financial ADJ emaj-17 313 4 and and CCONJ emaj-17 313 5 quantitative quantitative ADJ emaj-17 313 6 analysis analysis NOUN emaj-17 313 7 , , PUNCT emaj-17 313 8 31(1996 31(1996 NUM emaj-17 313 9 ): ): PUNCT emaj-17 313 10 377 377 NUM emaj-17 313 11 - - SYM emaj-17 313 12 397 397 NUM emaj-17 313 13 . . NOUN emaj-17 313 14 2 2 NUM emaj-17 313 15 . . X emaj-17 313 16 aguiar aguiar PROPN emaj-17 313 17 , , PUNCT emaj-17 313 18 marcos marcos PROPN emaj-17 313 19 . . PROPN emaj-17 313 20 , , PUNCT emaj-17 313 21 et et PROPN emaj-17 313 22 . . PUNCT emaj-17 314 1 al al PROPN emaj-17 314 2 . . PUNCT emaj-17 315 1 “ " PUNCT emaj-17 315 2 the the DET emaj-17 315 3 2009 2009 NUM emaj-17 315 4 bcg bcg NOUN emaj-17 315 5 100 100 NUM emaj-17 315 6 new new ADJ emaj-17 315 7 global global ADJ emaj-17 315 8 challengers challenger NOUN emaj-17 315 9 : : PUNCT emaj-17 315 10 how how SCONJ emaj-17 315 11 companies company NOUN emaj-17 315 12 from from ADP emaj-17 315 13 rapidly rapidly ADV emaj-17 315 14 developing develop VERB emaj-17 315 15 economies economy NOUN emaj-17 315 16 are be AUX emaj-17 315 17 contending contend VERB emaj-17 315 18 for for ADP emaj-17 315 19 global global ADJ emaj-17 315 20 leadership leadership NOUN emaj-17 315 21 ” " PUNCT emaj-17 315 22 . . PUNCT emaj-17 316 1 boston boston PROPN emaj-17 316 2 consulting consulting PROPN emaj-17 316 3 group group PROPN emaj-17 316 4 , , PUNCT emaj-17 316 5 report.(2009 report.(2009 NOUN emaj-17 316 6 ) ) PUNCT emaj-17 316 7 january january PROPN emaj-17 316 8 : : PUNCT emaj-17 316 9 1 1 NUM emaj-17 316 10 - - SYM emaj-17 316 11 38 38 NUM emaj-17 316 12 . . PUNCT emaj-17 317 1 3 3 X emaj-17 317 2 . . X emaj-17 317 3 arnold arnold PROPN emaj-17 317 4 , , PUNCT emaj-17 317 5 david david PROPN emaj-17 317 6 , , PUNCT emaj-17 317 7 j. j. PROPN emaj-17 317 8 and and CCONJ emaj-17 317 9 quelch quelch PROPN emaj-17 317 10 , , PUNCT emaj-17 317 11 john john PROPN emaj-17 317 12 , , PUNCT emaj-17 317 13 a. a. NOUN emaj-17 317 14 “ " PUNCT emaj-17 317 15 new new ADJ emaj-17 317 16 strategies strategy NOUN emaj-17 317 17 in in ADP emaj-17 317 18 emerging emerge VERB emaj-17 317 19 markets market NOUN emaj-17 317 20 ” " PUNCT emaj-17 317 21 . . PUNCT emaj-17 318 1 sloan sloan PROPN emaj-17 318 2 management management PROPN emaj-17 318 3 review review PROPN emaj-17 318 4 . . PUNCT emaj-17 319 1 fall(1998 fall(1998 NOUN emaj-17 319 2 ): ): PUNCT emaj-17 319 3 7 7 NUM emaj-17 319 4 - - SYM emaj-17 319 5 20 20 NUM emaj-17 319 6 . . PUNCT emaj-17 320 1 4 4 X emaj-17 320 2 . . X emaj-17 320 3 black black ADJ emaj-17 320 4 , , PUNCT emaj-17 320 5 bernard bernard PROPN emaj-17 320 6 , , PUNCT emaj-17 320 7 s. s. PROPN emaj-17 320 8 “ " PUNCT emaj-17 320 9 the the DET emaj-17 320 10 corporate corporate ADJ emaj-17 320 11 governance governance NOUN emaj-17 320 12 behavior behavior NOUN emaj-17 320 13 and and CCONJ emaj-17 320 14 market market NOUN emaj-17 320 15 value value NOUN emaj-17 320 16 of of ADP emaj-17 320 17 russian russian ADJ emaj-17 320 18 firms firm NOUN emaj-17 320 19 ” " PUNCT emaj-17 320 20 . . PUNCT emaj-17 321 1 emerging emerge VERB emaj-17 321 2 markets market NOUN emaj-17 321 3 review review VERB emaj-17 321 4 2.2 2.2 NUM emaj-17 321 5 ( ( PUNCT emaj-17 321 6 2001 2001 NUM emaj-17 321 7 ): ): PUNCT emaj-17 321 8 89 89 NUM emaj-17 321 9 - - SYM emaj-17 321 10 108 108 NUM emaj-17 321 11 . . PUNCT emaj-17 322 1 5 5 NUM emaj-17 322 2 . . X emaj-17 322 3 blustein blustein PROPN emaj-17 322 4 , , PUNCT emaj-17 322 5 paul paul PROPN emaj-17 322 6 . . PUNCT emaj-17 323 1 “ " PUNCT emaj-17 323 2 pssst pssst NOUN emaj-17 323 3 . . PUNCT emaj-17 324 1 here here ADV emaj-17 324 2 ’s ’ VERB emaj-17 324 3 a a DET emaj-17 324 4 little little ADJ emaj-17 324 5 something something PRON emaj-17 324 6 that that PRON emaj-17 324 7 seems seem VERB emaj-17 324 8 to to PART emaj-17 324 9 slow slow VERB emaj-17 324 10 growth growth NOUN emaj-17 324 11 ” " PUNCT emaj-17 324 12 . . PUNCT emaj-17 325 1 the the DET emaj-17 325 2 washington washington PROPN emaj-17 325 3 post post PROPN emaj-17 325 4 . . PUNCT emaj-17 325 5 ( ( PUNCT emaj-17 325 6 2008 2008 NUM emaj-17 325 7 ) ) PUNCT emaj-17 325 8 . . PUNCT emaj-17 326 1 accessed access VERB emaj-17 326 2 june june PROPN emaj-17 326 3 20 20 NUM emaj-17 326 4 , , PUNCT emaj-17 326 5 2009 2009 NUM emaj-17 326 6 . . PUNCT emaj-17 327 1 http://www.lexisnexis.com/us/lnacademic/api/version1/sr?csi=8422&sr=headline%28pssst.+here%27s+a+ http://www.lexisnexis.com/us/lnacademic/api/version1/sr?csi=8422&sr=headline%28pssst.+here%27s+a+ NOUN emaj-17 327 2 little+something+that+seems+to+slow+growth%29&secondredirectindicator little+something+that+seems+to+slow+growth%29&secondredirectindicator NOUN emaj-17 327 3 = = NOUN emaj-17 327 4 true true ADJ emaj-17 327 5 . . PUNCT emaj-17 328 1 6 6 X emaj-17 328 2 . . X emaj-17 328 3 cavusgil cavusgil NOUN emaj-17 328 4 , , PUNCT emaj-17 328 5 tamer tame ADJ emaj-17 328 6 , , PUNCT emaj-17 328 7 s s PART emaj-17 328 8 and and CCONJ emaj-17 328 9 knight knight NOUN emaj-17 328 10 , , PUNCT emaj-17 328 11 gary gary PROPN emaj-17 328 12 , , PUNCT emaj-17 328 13 and and CCONJ emaj-17 328 14 riesenberger riesenberger NOUN emaj-17 328 15 , , PUNCT emaj-17 328 16 john john PROPN emaj-17 328 17 . . PUNCT emaj-17 329 1 “ " PUNCT emaj-17 329 2 regional regional ADJ emaj-17 329 3 economic economic ADJ emaj-17 329 4 integration integration NOUN emaj-17 329 5 ” " PUNCT emaj-17 329 6 . . PUNCT emaj-17 330 1 understanding understand VERB emaj-17 330 2 emerging emerge VERB emaj-17 330 3 markets market NOUN emaj-17 330 4 . . PUNCT emaj-17 331 1 international international ADJ emaj-17 331 2 business business NOUN emaj-17 331 3 : : PUNCT emaj-17 331 4 strategy strategy NOUN emaj-17 331 5 , , PUNCT emaj-17 331 6 management management NOUN emaj-17 331 7 and and CCONJ emaj-17 331 8 the the DET emaj-17 331 9 new new ADJ emaj-17 331 10 realities reality NOUN emaj-17 331 11 , , PUNCT emaj-17 331 12 ed ed NOUN emaj-17 331 13 . . PUNCT emaj-17 332 1 david david PROPN emaj-17 332 2 parker parker PROPN emaj-17 332 3 . . PUNCT emaj-17 333 1 ( ( PUNCT emaj-17 333 2 upper upper ADJ emaj-17 333 3 saddle saddle NOUN emaj-17 333 4 river river NOUN emaj-17 333 5 : : PUNCT emaj-17 333 6 pearson pearson PROPN emaj-17 333 7 prentice prentice PROPN emaj-17 333 8 hall hall PROPN emaj-17 333 9 , , PUNCT emaj-17 333 10 2007 2007 NUM emaj-17 333 11 ) ) PUNCT emaj-17 333 12 . . PUNCT emaj-17 334 1 222 222 NUM emaj-17 334 2 - - SYM emaj-17 334 3 253 253 NUM emaj-17 334 4 . . PUNCT emaj-17 335 1 7 7 X emaj-17 335 2 . . X emaj-17 335 3 clarke clarke PROPN emaj-17 335 4 , , PUNCT emaj-17 335 5 thomas thomas PROPN emaj-17 335 6 . . PUNCT emaj-17 336 1 “ " PUNCT emaj-17 336 2 international international ADJ emaj-17 336 3 corporate corporate ADJ emaj-17 336 4 governance governance NOUN emaj-17 336 5 : : PUNCT emaj-17 336 6 a a DET emaj-17 336 7 comparative comparative ADJ emaj-17 336 8 approach approach NOUN emaj-17 336 9 ” " PUNCT emaj-17 336 10 . . PUNCT emaj-17 337 1 ( ( PUNCT emaj-17 337 2 london london PROPN emaj-17 337 3 : : PUNCT emaj-17 337 4 routledge routledge PROPN emaj-17 337 5 , , PUNCT emaj-17 337 6 2007 2007 NUM emaj-17 337 7 ) ) PUNCT emaj-17 337 8 . . PUNCT emaj-17 338 1 8 8 X emaj-17 338 2 . . X emaj-17 338 3 fan fan PROPN emaj-17 338 4 , , PUNCT emaj-17 338 5 joseph joseph PROPN emaj-17 338 6 p.h p.h PROPN emaj-17 338 7 . . PROPN emaj-17 338 8 and and CCONJ emaj-17 338 9 wei wei PROPN emaj-17 338 10 , , PUNCT emaj-17 338 11 k.c k.c PROPN emaj-17 338 12 . . PROPN emaj-17 338 13 john john PROPN emaj-17 338 14 . . PROPN emaj-17 338 15 , , PUNCT emaj-17 338 16 and and CCONJ emaj-17 338 17 xu xu INTJ emaj-17 338 18 , , PUNCT emaj-17 338 19 xinzhong xinzhong PROPN emaj-17 338 20 . . PUNCT emaj-17 339 1 “ " PUNCT emaj-17 339 2 corporate corporate ADJ emaj-17 339 3 finance finance NOUN emaj-17 339 4 and and CCONJ emaj-17 339 5 governance governance NOUN emaj-17 339 6 in in ADP emaj-17 339 7 emerging emerge VERB emaj-17 339 8 markets market NOUN emaj-17 339 9 : : PUNCT emaj-17 339 10 a a DET emaj-17 339 11 selective selective ADJ emaj-17 339 12 review review NOUN emaj-17 339 13 and and CCONJ emaj-17 339 14 an an DET emaj-17 339 15 agenda agenda NOUN emaj-17 339 16 for for ADP emaj-17 339 17 future future ADJ emaj-17 339 18 research research NOUN emaj-17 339 19 ” " PUNCT emaj-17 339 20 . . PUNCT emaj-17 340 1 journal journal NOUN emaj-17 340 2 of of ADP emaj-17 340 3 corporate corporate ADJ emaj-17 340 4 finance finance NOUN emaj-17 340 5 . . PUNCT emaj-17 341 1 17(2 17(2 NUM emaj-17 341 2 ) ) PUNCT emaj-17 341 3 ( ( PUNCT emaj-17 341 4 2010 2010 NUM emaj-17 341 5 ): ): PUNCT emaj-17 341 6 207 207 NUM emaj-17 341 7 - - SYM emaj-17 341 8 214 214 NUM emaj-17 341 9 . . PUNCT emaj-17 342 1 9 9 NUM emaj-17 342 2 . . X emaj-17 342 3 fan fan PROPN emaj-17 342 4 , , PUNCT emaj-17 342 5 joseph joseph PROPN emaj-17 342 6 p.h p.h PROPN emaj-17 342 7 . . PROPN emaj-17 342 8 and and CCONJ emaj-17 342 9 wong wong PROPN emaj-17 342 10 , , PUNCT emaj-17 342 11 t.j t.j PROPN emaj-17 342 12 . . PROPN emaj-17 342 13 and and CCONJ emaj-17 342 14 zhang zhang PROPN emaj-17 342 15 , , PUNCT emaj-17 342 16 tianyu tianyu PROPN emaj-17 342 17 . . PUNCT emaj-17 343 1 “ " PUNCT emaj-17 343 2 institutions institution NOUN emaj-17 343 3 and and CCONJ emaj-17 343 4 organizational organizational ADJ emaj-17 343 5 structure structure NOUN emaj-17 343 6 : : PUNCT emaj-17 343 7 the the DET emaj-17 343 8 case case NOUN emaj-17 343 9 of of ADP emaj-17 343 10 state state NOUN emaj-17 343 11 - - PUNCT emaj-17 343 12 owned own VERB emaj-17 343 13 corporate corporate ADJ emaj-17 343 14 pyramids pyramid NOUN emaj-17 343 15 ” " PUNCT emaj-17 343 16 . . PUNCT emaj-17 344 1 chinese chinese PROPN emaj-17 344 2 university university PROPN emaj-17 344 3 of of ADP emaj-17 344 4 hong hong PROPN emaj-17 344 5 kong kong PROPN emaj-17 344 6 . . PUNCT emaj-17 345 1 working work VERB emaj-17 345 2 paper paper NOUN emaj-17 345 3 ( ( PUNCT emaj-17 345 4 2010 2010 NUM emaj-17 345 5 ): ): PUNCT emaj-17 345 6 1 1 NUM emaj-17 345 7 - - SYM emaj-17 345 8 61 61 NUM emaj-17 345 9 . . PUNCT emaj-17 345 10 10 10 NUM emaj-17 345 11 . . PUNCT emaj-17 346 1 fernando fernando PROPN emaj-17 346 2 , , PUNCT emaj-17 346 3 a.c a.c PROPN emaj-17 346 4 . . PUNCT emaj-17 346 5 “ " PUNCT emaj-17 346 6 corporate corporate ADJ emaj-17 346 7 governance governance NOUN emaj-17 346 8 : : PUNCT emaj-17 346 9 an an DET emaj-17 346 10 overview overview NOUN emaj-17 346 11 ” " PUNCT emaj-17 346 12 . . PUNCT emaj-17 347 1 corporate corporate ADJ emaj-17 347 2 governance governance NOUN emaj-17 347 3 : : PUNCT emaj-17 347 4 principles principle NOUN emaj-17 347 5 , , PUNCT emaj-17 347 6 policies policy NOUN emaj-17 347 7 and and CCONJ emaj-17 347 8 practices practice NOUN emaj-17 347 9 . . PUNCT emaj-17 348 1 ( ( PUNCT emaj-17 348 2 upper upper ADJ emaj-17 348 3 saddle saddle NOUN emaj-17 348 4 river river NOUN emaj-17 348 5 : : PUNCT emaj-17 348 6 pearson pearson PROPN emaj-17 348 7 prentice prentice PROPN emaj-17 348 8 hall hall PROPN emaj-17 348 9 , , PUNCT emaj-17 348 10 2009 2009 NUM emaj-17 348 11 ) ) PUNCT emaj-17 348 12 . . PUNCT emaj-17 349 1 3 3 NUM emaj-17 349 2 - - SYM emaj-17 349 3 32 32 NUM emaj-17 349 4 . . PUNCT emaj-17 350 1 11 11 NUM emaj-17 350 2 . . PUNCT emaj-17 351 1 frisch frisch VERB emaj-17 351 2 , , PUNCT emaj-17 351 3 dieter dieter NOUN emaj-17 351 4 . . PUNCT emaj-17 352 1 “ " PUNCT emaj-17 352 2 the the DET emaj-17 352 3 effects effect NOUN emaj-17 352 4 of of ADP emaj-17 352 5 corruption corruption NOUN emaj-17 352 6 on on ADP emaj-17 352 7 development development NOUN emaj-17 352 8 ” " PUNCT emaj-17 352 9 . . PUNCT emaj-17 353 1 the the DET emaj-17 353 2 courier courier NOUN emaj-17 353 3 . . PUNCT emaj-17 354 1 acp acp PROPN emaj-17 354 2 - - PUNCT emaj-17 354 3 eu eu PROPN emaj-17 354 4 no no PROPN emaj-17 354 5 . . PROPN emaj-17 354 6 158 158 NUM emaj-17 354 7 , , PUNCT emaj-17 354 8 july july PROPN emaj-17 354 9 - - PUNCT emaj-17 354 10 august august PROPN emaj-17 354 11 ( ( PUNCT emaj-17 354 12 2010 2010 NUM emaj-17 354 13 ): ): PUNCT emaj-17 354 14 68 68 NUM emaj-17 354 15 - - SYM emaj-17 354 16 70 70 NUM emaj-17 354 17 . . PUNCT emaj-17 354 18 12 12 NUM emaj-17 354 19 . . PUNCT emaj-17 355 1 gambetta gambetta PROPN emaj-17 355 2 , , PUNCT emaj-17 355 3 diego diego NOUN emaj-17 355 4 “ " PUNCT emaj-17 355 5 mafia mafia NOUN emaj-17 355 6 : : PUNCT emaj-17 355 7 the the DET emaj-17 355 8 price price NOUN emaj-17 355 9 of of ADP emaj-17 355 10 distrust distrust NOUN emaj-17 355 11 ” " PUNCT emaj-17 355 12 . . PUNCT emaj-17 356 1 trust trust NOUN emaj-17 356 2 : : PUNCT emaj-17 356 3 making make VERB emaj-17 356 4 and and CCONJ emaj-17 356 5 breaking break VERB emaj-17 356 6 cooperative cooperative ADJ emaj-17 356 7 relations relation NOUN emaj-17 356 8 . . PUNCT emaj-17 357 1 department department NOUN emaj-17 357 2 of of ADP emaj-17 357 3 sociology sociology NOUN emaj-17 357 4 , , PUNCT emaj-17 357 5 university university NOUN emaj-17 357 6 of of ADP emaj-17 357 7 oxford oxford PROPN emaj-17 357 8 , , PUNCT emaj-17 357 9 ( ( PUNCT emaj-17 357 10 2000 2000 NUM emaj-17 357 11 ) ) PUNCT emaj-17 357 12 158 158 NUM emaj-17 357 13 - - SYM emaj-17 357 14 175 175 NUM emaj-17 357 15 . . PUNCT emaj-17 357 16 13 13 NUM emaj-17 357 17 . . PUNCT emaj-17 358 1 gloster gloster NOUN emaj-17 358 2 - - PUNCT emaj-17 358 3 coates coates PROPN emaj-17 358 4 , , PUNCT emaj-17 358 5 patricia patricia NOUN emaj-17 358 6 and and CCONJ emaj-17 358 7 quest quest NOUN emaj-17 358 8 , , PUNCT emaj-17 358 9 linda linda PROPN emaj-17 358 10 . . PUNCT emaj-17 359 1 “ " PUNCT emaj-17 359 2 kleptocracy kleptocracy NOUN emaj-17 359 3 : : PUNCT emaj-17 359 4 curse curse NOUN emaj-17 359 5 of of ADP emaj-17 359 6 development development NOUN emaj-17 359 7 ” " PUNCT emaj-17 359 8 . . PUNCT emaj-17 360 1 international international ADJ emaj-17 360 2 social social ADJ emaj-17 360 3 science science NOUN emaj-17 360 4 review review NOUN emaj-17 360 5 80.1 80.1 NUM emaj-17 360 6 - - SYM emaj-17 360 7 2 2 NUM emaj-17 360 8 ( ( PUNCT emaj-17 360 9 2005 2005 NUM emaj-17 360 10 ): ): PUNCT emaj-17 360 11 3 3 NUM emaj-17 360 12 - - SYM emaj-17 360 13 20 20 NUM emaj-17 360 14 . . PUNCT emaj-17 360 15 14 14 NUM emaj-17 360 16 . . PUNCT emaj-17 361 1 hellman hellman PROPN emaj-17 361 2 , , PUNCT emaj-17 361 3 joel joel PROPN emaj-17 361 4 and and CCONJ emaj-17 361 5 jones jones PROPN emaj-17 361 6 , , PUNCT emaj-17 361 7 geraint geraint PROPN emaj-17 361 8 and and CCONJ emaj-17 361 9 kaufmann kaufmann PROPN emaj-17 361 10 , , PUNCT emaj-17 361 11 daniel daniel PROPN emaj-17 361 12 . . PUNCT emaj-17 362 1 “ " PUNCT emaj-17 362 2 are be AUX emaj-17 362 3 foreign foreign ADJ emaj-17 362 4 investors investor NOUN emaj-17 362 5 and and CCONJ emaj-17 362 6 multinationals multinational NOUN emaj-17 362 7 engaging engage VERB emaj-17 362 8 in in ADP emaj-17 362 9 corrupt corrupt ADJ emaj-17 362 10 practices practice NOUN emaj-17 362 11 in in ADP emaj-17 362 12 transition transition NOUN emaj-17 362 13 economies economy NOUN emaj-17 362 14 ? ? PUNCT emaj-17 362 15 ” " PUNCT emaj-17 362 16 . . PUNCT emaj-17 363 1 the the DET emaj-17 363 2 world world PROPN emaj-17 363 3 bank bank PROPN emaj-17 363 4 / / SYM emaj-17 363 5 the the DET emaj-17 363 6 william william PROPN emaj-17 363 7 davidson davidson PROPN emaj-17 363 8 institute institute PROPN emaj-17 363 9 . . PUNCT emaj-17 364 1 ( ( PUNCT emaj-17 364 2 2000)1 2000)1 NUM emaj-17 364 3 - - SYM emaj-17 364 4 4 4 NUM emaj-17 364 5 . . NOUN emaj-17 364 6 15 15 NUM emaj-17 364 7 . . PUNCT emaj-17 364 8 hellman hellman NOUN emaj-17 364 9 , , PUNCT emaj-17 364 10 joel joel PROPN emaj-17 364 11 and and CCONJ emaj-17 364 12 jones jones PROPN emaj-17 364 13 , , PUNCT emaj-17 364 14 geraint geraint PROPN emaj-17 364 15 and and CCONJ emaj-17 364 16 kauffman kauffman PROPN emaj-17 364 17 , , PUNCT emaj-17 364 18 daniel daniel PROPN emaj-17 364 19 and and CCONJ emaj-17 364 20 schankerman schankerman NOUN emaj-17 364 21 , , PUNCT emaj-17 364 22 mark mark PROPN emaj-17 364 23 a. a. NOUN emaj-17 364 24 “ " PUNCT emaj-17 364 25 measuring measure VERB emaj-17 364 26 governance governance NOUN emaj-17 364 27 , , PUNCT emaj-17 364 28 corruption corruption NOUN emaj-17 364 29 , , PUNCT emaj-17 364 30 and and CCONJ emaj-17 364 31 state state NOUN emaj-17 364 32 capture capture NOUN emaj-17 364 33 : : PUNCT emaj-17 364 34 how how SCONJ emaj-17 364 35 firms firm NOUN emaj-17 364 36 and and CCONJ emaj-17 364 37 bureaucrats bureaucrat NOUN emaj-17 364 38 shape shape VERB emaj-17 364 39 the the DET emaj-17 364 40 business business NOUN emaj-17 364 41 environment environment NOUN emaj-17 364 42 in in ADP emaj-17 364 43 transition transition NOUN emaj-17 364 44 economies economy NOUN emaj-17 364 45 ” " PUNCT emaj-17 364 46 . . PUNCT emaj-17 365 1 world world PROPN emaj-17 365 2 bank bank PROPN emaj-17 365 3 institute institute PROPN emaj-17 365 4 of of ADP emaj-17 365 5 governance governance NOUN emaj-17 365 6 , , PUNCT emaj-17 365 7 regulation regulation NOUN emaj-17 365 8 and and CCONJ emaj-17 365 9 finance finance NOUN emaj-17 365 10 . . PUNCT emaj-17 366 1 2312 2312 NUM emaj-17 366 2 . . PUNCT emaj-17 367 1 washington washington PROPN emaj-17 367 2 d.c d.c PROPN emaj-17 367 3 . . PUNCT emaj-17 368 1 ( ( PUNCT emaj-17 368 2 2000 2000 NUM emaj-17 368 3 ) ) PUNCT emaj-17 368 4 . . PUNCT emaj-17 369 1 the the DET emaj-17 369 2 influence influence NOUN emaj-17 369 3 of of ADP emaj-17 369 4 corruption corruption NOUN emaj-17 369 5 on on ADP emaj-17 369 6 corporate corporate ADJ emaj-17 369 7 governance governance NOUN emaj-17 369 8 standards standard NOUN emaj-17 369 9 : : PUNCT emaj-17 369 10 shared share VERB emaj-17 369 11 characteristics characteristic NOUN emaj-17 369 12 of of ADP emaj-17 369 13 rapidly rapidly ADV emaj-17 369 14 developing develop VERB emaj-17 369 15 economies economy NOUN emaj-17 369 16 emerging emerge VERB emaj-17 369 17 markets market NOUN emaj-17 369 18 journal journal NOUN emaj-17 369 19 | | ADV emaj-17 369 20 p p NOUN emaj-17 369 21 a a DET emaj-17 369 22 g g NOUN emaj-17 369 23 e e NOUN emaj-17 369 24 | | ADV emaj-17 369 25 36 36 NUM emaj-17 369 26 volume volume NOUN emaj-17 369 27 2 2 NUM emaj-17 369 28 ( ( PUNCT emaj-17 369 29 2012 2012 NUM emaj-17 369 30 ) ) PUNCT emaj-17 369 31 | | ADV emaj-17 369 32 issn issn VERB emaj-17 369 33 2158 2158 NUM emaj-17 369 34 - - SYM emaj-17 369 35 8708 8708 NUM emaj-17 369 36 ( ( PUNCT emaj-17 369 37 online online NOUN emaj-17 369 38 ) ) PUNCT emaj-17 369 39 | | ADV emaj-17 369 40 doi doi X emaj-17 369 41 10.5195 10.5195 NUM emaj-17 369 42 / / SYM emaj-17 369 43 emaj.2012.17 emaj.2012.17 NOUN emaj-17 369 44 | | ADV emaj-17 369 45 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 369 46 16 16 NUM emaj-17 369 47 . . PUNCT emaj-17 370 1 “ " PUNCT emaj-17 370 2 world world NOUN emaj-17 370 3 competitiveness competitiveness NOUN emaj-17 370 4 online online NOUN emaj-17 370 5 ” " PUNCT emaj-17 370 6 . . PUNCT emaj-17 371 1 imd imd PROPN emaj-17 371 2 . . PROPN emaj-17 372 1 last last ADJ emaj-17 372 2 modified modify VERB emaj-17 372 3 2008 2008 NUM emaj-17 372 4 oct.-nov oct.-nov NOUN emaj-17 372 5 . . PUNCT emaj-17 373 1 17 17 NUM emaj-17 373 2 . . PUNCT emaj-17 374 1 “ " PUNCT emaj-17 374 2 the the DET emaj-17 374 3 new new ADJ emaj-17 374 4 titans titan NOUN emaj-17 374 5 ” " PUNCT emaj-17 374 6 . . PUNCT emaj-17 375 1 the the DET emaj-17 375 2 economist economist NOUN emaj-17 375 3 . . PUNCT emaj-17 376 1 ( ( PUNCT emaj-17 376 2 2006 2006 NUM emaj-17 376 3 ) ) PUNCT emaj-17 376 4 accessed access VERB emaj-17 376 5 september september PROPN emaj-17 376 6 14 14 NUM emaj-17 376 7 , , PUNCT emaj-17 376 8 2009 2009 NUM emaj-17 376 9 . . PUNCT emaj-17 377 1 http://www.economist.com/node/7877959 http://www.economist.com/node/7877959 NOUN emaj-17 377 2 . . PUNCT emaj-17 378 1 18 18 NUM emaj-17 378 2 . . X emaj-17 379 1 jiang jiang PROPN emaj-17 379 2 , , PUNCT emaj-17 379 3 guohua guohua PROPN emaj-17 379 4 and and CCONJ emaj-17 379 5 lee lee PROPN emaj-17 379 6 , , PUNCT emaj-17 379 7 charles charles PROPN emaj-17 379 8 m.c m.c PROPN emaj-17 379 9 . . PROPN emaj-17 379 10 and and CCONJ emaj-17 379 11 yue yue PROPN emaj-17 379 12 , , PUNCT emaj-17 379 13 heng heng PROPN emaj-17 379 14 . . PUNCT emaj-17 380 1 “ " PUNCT emaj-17 380 2 tunneling tunnel VERB emaj-17 380 3 through through ADP emaj-17 380 4 intercorporate intercorporate ADJ emaj-17 380 5 loans loan NOUN emaj-17 380 6 : : PUNCT emaj-17 380 7 the the DET emaj-17 380 8 chinese chinese ADJ emaj-17 380 9 experience experience NOUN emaj-17 380 10 ” " PUNCT emaj-17 380 11 . . PUNCT emaj-17 381 1 journal journal PROPN emaj-17 381 2 of of ADP emaj-17 381 3 financial financial ADJ emaj-17 381 4 economics economic NOUN emaj-17 381 5 . . PUNCT emaj-17 382 1 98 98 NUM emaj-17 382 2 ( ( PUNCT emaj-17 382 3 2010 2010 NUM emaj-17 382 4 ): ): PUNCT emaj-17 382 5 1 1 NUM emaj-17 382 6 - - SYM emaj-17 382 7 20 20 NUM emaj-17 382 8 . . PUNCT emaj-17 383 1 19 19 NUM emaj-17 383 2 . . X emaj-17 384 1 kaufmann kaufmann PROPN emaj-17 384 2 , , PUNCT emaj-17 384 3 daniel daniel PROPN emaj-17 384 4 and and CCONJ emaj-17 384 5 wei wei PROPN emaj-17 384 6 , , PUNCT emaj-17 384 7 shang shang PROPN emaj-17 384 8 - - PUNCT emaj-17 384 9 jin jin PROPN emaj-17 384 10 . . PUNCT emaj-17 385 1 “ " PUNCT emaj-17 385 2 does do AUX emaj-17 385 3 ‘ ' PUNCT emaj-17 385 4 grease grease NOUN emaj-17 385 5 money money NOUN emaj-17 385 6 ’ ' PUNCT emaj-17 385 7 speed speed NOUN emaj-17 385 8 up up ADP emaj-17 385 9 the the DET emaj-17 385 10 wheels wheel NOUN emaj-17 385 11 of of ADP emaj-17 385 12 commerce commerce NOUN emaj-17 385 13 ? ? PUNCT emaj-17 385 14 ” " PUNCT emaj-17 385 15 . . PUNCT emaj-17 386 1 the the DET emaj-17 386 2 world world PROPN emaj-17 386 3 bank bank PROPN emaj-17 386 4 and and CCONJ emaj-17 386 5 harvard harvard PROPN emaj-17 386 6 university university PROPN emaj-17 386 7 . . PUNCT emaj-17 387 1 working work VERB emaj-17 387 2 paper paper PROPN emaj-17 387 3 no no INTJ emaj-17 387 4 . . PUNCT emaj-17 387 5 2254 2254 NUM emaj-17 387 6 . . PUNCT emaj-17 388 1 ( ( PUNCT emaj-17 388 2 1999 1999 NUM emaj-17 388 3 ) ) PUNCT emaj-17 388 4 1 1 NUM emaj-17 388 5 - - SYM emaj-17 388 6 19 19 NUM emaj-17 388 7 . . NOUN emaj-17 388 8 20 20 NUM emaj-17 388 9 . . PUNCT emaj-17 389 1 kaufmann kaufmann PROPN emaj-17 389 2 , , PUNCT emaj-17 389 3 daniel daniel PROPN emaj-17 389 4 and and CCONJ emaj-17 389 5 hellman hellman PROPN emaj-17 389 6 , , PUNCT emaj-17 389 7 joel joel PROPN emaj-17 389 8 s s PROPN emaj-17 389 9 and and CCONJ emaj-17 389 10 jones jones PROPN emaj-17 389 11 , , PUNCT emaj-17 389 12 geraint geraint PROPN emaj-17 389 13 and and CCONJ emaj-17 389 14 shankerman shankerman PROPN emaj-17 389 15 , , PUNCT emaj-17 389 16 mark mark PROPN emaj-17 389 17 . . PUNCT emaj-17 390 1 “ " PUNCT emaj-17 390 2 measuring measure VERB emaj-17 390 3 governance governance NOUN emaj-17 390 4 , , PUNCT emaj-17 390 5 corruption corruption NOUN emaj-17 390 6 , , PUNCT emaj-17 390 7 and and CCONJ emaj-17 390 8 state state NOUN emaj-17 390 9 capture capture NOUN emaj-17 390 10 – – PUNCT emaj-17 390 11 how how SCONJ emaj-17 390 12 firms firm NOUN emaj-17 390 13 and and CCONJ emaj-17 390 14 bureaucrats bureaucrat NOUN emaj-17 390 15 shape shape VERB emaj-17 390 16 the the DET emaj-17 390 17 business business NOUN emaj-17 390 18 environment environment NOUN emaj-17 390 19 in in ADP emaj-17 390 20 transition transition NOUN emaj-17 390 21 economies economy NOUN emaj-17 390 22 ” " PUNCT emaj-17 390 23 . . PUNCT emaj-17 391 1 the the DET emaj-17 391 2 world world PROPN emaj-17 391 3 bank bank PROPN emaj-17 391 4 and and CCONJ emaj-17 391 5 harvard harvard PROPN emaj-17 391 6 university university PROPN emaj-17 391 7 . . PUNCT emaj-17 392 1 working work VERB emaj-17 392 2 paper paper PROPN emaj-17 392 3 no no INTJ emaj-17 392 4 . . PROPN emaj-17 393 1 2312 2312 NUM emaj-17 393 2 . . PUNCT emaj-17 394 1 ( ( PUNCT emaj-17 394 2 2000)1 2000)1 NUM emaj-17 394 3 - - SYM emaj-17 394 4 47 47 NUM emaj-17 394 5 . . PUNCT emaj-17 395 1 21 21 NUM emaj-17 395 2 . . X emaj-17 395 3 klapper klapper PROPN emaj-17 395 4 , , PUNCT emaj-17 395 5 leora leora PROPN emaj-17 395 6 f f PROPN emaj-17 395 7 and and CCONJ emaj-17 395 8 love love PROPN emaj-17 395 9 , , PUNCT emaj-17 395 10 inessa inessa NOUN emaj-17 395 11 . . PUNCT emaj-17 396 1 “ " PUNCT emaj-17 396 2 corporate corporate ADJ emaj-17 396 3 governance governance NOUN emaj-17 396 4 , , PUNCT emaj-17 396 5 investor investor NOUN emaj-17 396 6 protection protection NOUN emaj-17 396 7 , , PUNCT emaj-17 396 8 and and CCONJ emaj-17 396 9 performance performance NOUN emaj-17 396 10 in in ADP emaj-17 396 11 emerging emerge VERB emaj-17 396 12 markets market NOUN emaj-17 396 13 ” " PUNCT emaj-17 396 14 . . PUNCT emaj-17 397 1 journal journal NOUN emaj-17 397 2 of of ADP emaj-17 397 3 corporate corporate ADJ emaj-17 397 4 finance finance NOUN emaj-17 397 5 . . PUNCT emaj-17 398 1 10.5 10.5 NUM emaj-17 398 2 ( ( PUNCT emaj-17 398 3 2002 2002 NUM emaj-17 398 4 ): ): PUNCT emaj-17 398 5 703 703 NUM emaj-17 398 6 - - SYM emaj-17 398 7 28 28 NUM emaj-17 398 8 . . PUNCT emaj-17 399 1 22 22 NUM emaj-17 399 2 . . PUNCT emaj-17 400 1 laporta laporta PROPN emaj-17 400 2 , , PUNCT emaj-17 400 3 rafael rafael PROPN emaj-17 400 4 and and CCONJ emaj-17 400 5 lopez lopez PROPN emaj-17 400 6 de de PROPN emaj-17 400 7 silanes silanes PROPN emaj-17 400 8 , , PUNCT emaj-17 400 9 florencio florencio PROPN emaj-17 400 10 and and CCONJ emaj-17 400 11 shleifer shleifer PROPN emaj-17 400 12 , , PUNCT emaj-17 400 13 andrei andrei NOUN emaj-17 400 14 . . PUNCT emaj-17 401 1 “ " PUNCT emaj-17 401 2 corporate corporate ADJ emaj-17 401 3 ownership ownership NOUN emaj-17 401 4 around around ADP emaj-17 401 5 the the DET emaj-17 401 6 world world NOUN emaj-17 401 7 ” " PUNCT emaj-17 401 8 . . PUNCT emaj-17 402 1 journal journal PROPN emaj-17 402 2 of of ADP emaj-17 402 3 finance finance NOUN emaj-17 402 4 . . PUNCT emaj-17 403 1 54 54 NUM emaj-17 403 2 ( ( PUNCT emaj-17 403 3 1999 1999 NUM emaj-17 403 4 ): ): PUNCT emaj-17 403 5 471 471 NUM emaj-17 403 6 - - SYM emaj-17 403 7 517 517 NUM emaj-17 403 8 . . NOUN emaj-17 403 9 23 23 NUM emaj-17 403 10 . . PUNCT emaj-17 404 1 laporta laporta PROPN emaj-17 404 2 , , PUNCT emaj-17 404 3 rafael rafael PROPN emaj-17 404 4 and and CCONJ emaj-17 404 5 lopez lopez PROPN emaj-17 404 6 de de PROPN emaj-17 404 7 silanes silanes PROPN emaj-17 404 8 , , PUNCT emaj-17 404 9 florencio florencio PROPN emaj-17 404 10 and and CCONJ emaj-17 404 11 shleifer shleifer PROPN emaj-17 404 12 , , PUNCT emaj-17 404 13 andrei andrei PROPN emaj-17 404 14 and and CCONJ emaj-17 404 15 vishny vishny PROPN emaj-17 404 16 , , PUNCT emaj-17 404 17 robert robert PROPN emaj-17 404 18 w. w. PROPN emaj-17 404 19 “ " PUNCT emaj-17 404 20 agency agency NOUN emaj-17 404 21 problems problem NOUN emaj-17 404 22 and and CCONJ emaj-17 404 23 dividend dividend NOUN emaj-17 404 24 policies policy NOUN emaj-17 404 25 around around ADP emaj-17 404 26 the the DET emaj-17 404 27 world world NOUN emaj-17 404 28 ” " PUNCT emaj-17 404 29 . . PUNCT emaj-17 405 1 journal journal PROPN emaj-17 405 2 of of ADP emaj-17 405 3 finance finance NOUN emaj-17 405 4 . . PUNCT emaj-17 406 1 55 55 NUM emaj-17 406 2 ( ( PUNCT emaj-17 406 3 2000 2000 NUM emaj-17 406 4 ): ): PUNCT emaj-17 406 5 1 1 NUM emaj-17 406 6 - - SYM emaj-17 406 7 33 33 NUM emaj-17 406 8 . . PUNCT emaj-17 407 1 24 24 NUM emaj-17 407 2 . . PUNCT emaj-17 408 1 laporta laporta PROPN emaj-17 408 2 , , PUNCT emaj-17 408 3 rafael rafael PROPN emaj-17 408 4 and and CCONJ emaj-17 408 5 lopez lopez PROPN emaj-17 408 6 de de PROPN emaj-17 408 7 silanes silanes PROPN emaj-17 408 8 , , PUNCT emaj-17 408 9 florencio florencio PROPN emaj-17 408 10 and and CCONJ emaj-17 408 11 shleifer shleifer PROPN emaj-17 408 12 , , PUNCT emaj-17 408 13 andrei andrei PROPN emaj-17 408 14 and and CCONJ emaj-17 408 15 vishny vishny PROPN emaj-17 408 16 , , PUNCT emaj-17 408 17 robert robert PROPN emaj-17 408 18 w. w. PROPN emaj-17 408 19 “ " PUNCT emaj-17 408 20 investor investor NOUN emaj-17 408 21 protection protection NOUN emaj-17 408 22 and and CCONJ emaj-17 408 23 corporate corporate ADJ emaj-17 408 24 governance governance NOUN emaj-17 408 25 ” " PUNCT emaj-17 408 26 . . PUNCT emaj-17 409 1 journal journal PROPN emaj-17 409 2 of of ADP emaj-17 409 3 financial financial ADJ emaj-17 409 4 economics economic NOUN emaj-17 409 5 . . PUNCT emaj-17 410 1 58(1 58(1 NUM emaj-17 410 2 - - SYM emaj-17 410 3 2 2 NUM emaj-17 410 4 ) ) PUNCT emaj-17 410 5 ( ( PUNCT emaj-17 410 6 2000 2000 NUM emaj-17 410 7 ): ): PUNCT emaj-17 410 8 3 3 NUM emaj-17 410 9 - - SYM emaj-17 410 10 27 27 NUM emaj-17 410 11 . . PUNCT emaj-17 411 1 25 25 NUM emaj-17 411 2 . . PUNCT emaj-17 411 3 leuz leuz VERB emaj-17 411 4 , , PUNCT emaj-17 411 5 christian christian NOUN emaj-17 411 6 and and CCONJ emaj-17 411 7 oberholzer oberholzer NOUN emaj-17 411 8 - - PUNCT emaj-17 411 9 gee gee NOUN emaj-17 411 10 , , PUNCT emaj-17 411 11 felix felix PROPN emaj-17 411 12 . . PUNCT emaj-17 412 1 “ " PUNCT emaj-17 412 2 political political ADJ emaj-17 412 3 relationships relationship NOUN emaj-17 412 4 , , PUNCT emaj-17 412 5 global global ADJ emaj-17 412 6 financing financing NOUN emaj-17 412 7 , , PUNCT emaj-17 412 8 and and CCONJ emaj-17 412 9 corporate corporate ADJ emaj-17 412 10 transparency transparency NOUN emaj-17 412 11 ” " PUNCT emaj-17 412 12 . . PUNCT emaj-17 413 1 journal journal PROPN emaj-17 413 2 of of ADP emaj-17 413 3 financial financial ADJ emaj-17 413 4 economics economic NOUN emaj-17 413 5 . . PUNCT emaj-17 414 1 81 81 NUM emaj-17 414 2 ( ( PUNCT emaj-17 414 3 2006 2006 NUM emaj-17 414 4 ): ): PUNCT emaj-17 414 5 411 411 NUM emaj-17 414 6 - - SYM emaj-17 414 7 439 439 NUM emaj-17 414 8 . . PUNCT emaj-17 415 1 26 26 NUM emaj-17 415 2 . . PUNCT emaj-17 415 3 mccahery mccahery NOUN emaj-17 415 4 , , PUNCT emaj-17 415 5 joseph joseph PROPN emaj-17 415 6 and and CCONJ emaj-17 415 7 moerland moerland PROPN emaj-17 415 8 , , PUNCT emaj-17 415 9 piet piet ADJ emaj-17 415 10 and and CCONJ emaj-17 415 11 raaijmakers raaijmaker NOUN emaj-17 415 12 , , PUNCT emaj-17 415 13 theo theo PROPN emaj-17 415 14 . . PUNCT emaj-17 416 1 ( ( PUNCT emaj-17 416 2 2000 2000 NUM emaj-17 416 3 ) ) PUNCT emaj-17 416 4 , , PUNCT emaj-17 416 5 . . PUNCT emaj-17 417 1 “ " PUNCT emaj-17 417 2 convergence convergence NOUN emaj-17 417 3 and and CCONJ emaj-17 417 4 diversity diversity NOUN emaj-17 417 5 of of ADP emaj-17 417 6 corporate corporate ADJ emaj-17 417 7 regimes regime NOUN emaj-17 417 8 and and CCONJ emaj-17 417 9 capital capital NOUN emaj-17 417 10 markets market NOUN emaj-17 417 11 ” " PUNCT emaj-17 417 12 . . PUNCT emaj-17 418 1 corporate corporate ADJ emaj-17 418 2 governance governance NOUN emaj-17 418 3 regimes regime NOUN emaj-17 418 4 : : PUNCT emaj-17 418 5 convergence convergence NOUN emaj-17 418 6 and and CCONJ emaj-17 418 7 diversity diversity NOUN emaj-17 418 8 . . PUNCT emaj-17 419 1 ( ( PUNCT emaj-17 419 2 oxford oxford PROPN emaj-17 419 3 university university PROPN emaj-17 419 4 press press NOUN emaj-17 419 5 , , PUNCT emaj-17 419 6 oxford oxford NOUN emaj-17 419 7 , , PUNCT emaj-17 419 8 2000 2000 NUM emaj-17 419 9 ) ) PUNCT emaj-17 419 10 . . PUNCT emaj-17 420 1 27 27 NUM emaj-17 420 2 . . X emaj-17 421 1 modiglliani modiglliani PROPN emaj-17 421 2 , , PUNCT emaj-17 421 3 franco franco NOUN emaj-17 421 4 and and CCONJ emaj-17 421 5 perotti perotti PROPN emaj-17 421 6 , , PUNCT emaj-17 421 7 enrico enrico PROPN emaj-17 421 8 . . PUNCT emaj-17 422 1 “ " PUNCT emaj-17 422 2 security security NOUN emaj-17 422 3 markets market NOUN emaj-17 422 4 versus versus ADP emaj-17 422 5 bank bank NOUN emaj-17 422 6 finance finance NOUN emaj-17 422 7 : : PUNCT emaj-17 422 8 legal legal ADJ emaj-17 422 9 enforcement enforcement NOUN emaj-17 422 10 and and CCONJ emaj-17 422 11 investors investor NOUN emaj-17 422 12 ' ' PART emaj-17 422 13 protection protection NOUN emaj-17 422 14 ” " PUNCT emaj-17 422 15 . . PUNCT emaj-17 423 1 international international ADJ emaj-17 423 2 review review NOUN emaj-17 423 3 of of ADP emaj-17 423 4 finance finance NOUN emaj-17 423 5 1.2 1.2 NUM emaj-17 423 6 ( ( PUNCT emaj-17 423 7 2000 2000 NUM emaj-17 423 8 ): ): PUNCT emaj-17 423 9 81 81 NUM emaj-17 423 10 - - SYM emaj-17 423 11 96 96 NUM emaj-17 423 12 . . PUNCT emaj-17 423 13 28 28 NUM emaj-17 423 14 . . PUNCT emaj-17 424 1 “ " PUNCT emaj-17 424 2 principles principle NOUN emaj-17 424 3 of of ADP emaj-17 424 4 corporate corporate ADJ emaj-17 424 5 governance governance NOUN emaj-17 424 6 ” " PUNCT emaj-17 424 7 . . PUNCT emaj-17 425 1 organisation organisation NOUN emaj-17 425 2 for for ADP emaj-17 425 3 economic economic ADJ emaj-17 425 4 cooperation cooperation NOUN emaj-17 425 5 and and CCONJ emaj-17 425 6 development development NOUN emaj-17 425 7 . . PUNCT emaj-17 426 1 accessed access VERB emaj-17 426 2 june june PROPN emaj-17 426 3 2 2 NUM emaj-17 426 4 , , PUNCT emaj-17 426 5 2009 2009 NUM emaj-17 426 6 . . PUNCT emaj-17 427 1 ( ( PUNCT emaj-17 427 2 2004 2004 NUM emaj-17 427 3 ) ) PUNCT emaj-17 428 1 http http NOUN emaj-17 428 2 : : PUNCT emaj-17 428 3 www.oecd.gov www.oecd.gov NOUN emaj-17 428 4 29 29 NUM emaj-17 428 5 . . PUNCT emaj-17 429 1 osbourne osbourne PROPN emaj-17 429 2 , , PUNCT emaj-17 429 3 denis denis PROPN emaj-17 429 4 . . PUNCT emaj-17 430 1 “ " PUNCT emaj-17 430 2 corruption corruption NOUN emaj-17 430 3 as as ADP emaj-17 430 4 counter counter NOUN emaj-17 430 5 - - NOUN emaj-17 430 6 culture culture NOUN emaj-17 430 7 : : PUNCT emaj-17 430 8 attitudes attitude NOUN emaj-17 430 9 to to ADP emaj-17 430 10 bribery bribery NOUN emaj-17 430 11 in in ADP emaj-17 430 12 local local ADJ emaj-17 430 13 and and CCONJ emaj-17 430 14 global global ADJ emaj-17 430 15 society society NOUN emaj-17 430 16 ” " PUNCT emaj-17 430 17 . . PUNCT emaj-17 431 1 kluwer kluwer PROPN emaj-17 431 2 law law PROPN emaj-17 431 3 international international PROPN emaj-17 431 4 . . PUNCT emaj-17 432 1 ( ( PUNCT emaj-17 432 2 1997 1997 NUM emaj-17 432 3 ) ) PUNCT emaj-17 432 4 9 9 NUM emaj-17 432 5 - - SYM emaj-17 432 6 34 34 NUM emaj-17 432 7 . . PUNCT emaj-17 432 8 30 30 NUM emaj-17 432 9 . . PUNCT emaj-17 433 1 pacek pacek NOUN emaj-17 433 2 , , PUNCT emaj-17 433 3 nenad nenad PROPN emaj-17 433 4 and and CCONJ emaj-17 433 5 thornily thornily ADV emaj-17 433 6 , , PUNCT emaj-17 433 7 danny danny PROPN emaj-17 433 8 . . PUNCT emaj-17 434 1 “ " PUNCT emaj-17 434 2 emerging emerge VERB emaj-17 434 3 markets market NOUN emaj-17 434 4 : : PUNCT emaj-17 434 5 lessons lesson NOUN emaj-17 434 6 for for ADP emaj-17 434 7 business business NOUN emaj-17 434 8 success success NOUN emaj-17 434 9 and and CCONJ emaj-17 434 10 the the DET emaj-17 434 11 outlook outlook NOUN emaj-17 434 12 for for ADP emaj-17 434 13 different different ADJ emaj-17 434 14 markets market NOUN emaj-17 434 15 ” " PUNCT emaj-17 434 16 . . PUNCT emaj-17 435 1 the the DET emaj-17 435 2 economist economist NOUN emaj-17 435 3 series series PROPN emaj-17 435 4 . . PUNCT emaj-17 436 1 2nd 2nd ADJ emaj-17 436 2 ed ed NOUN emaj-17 436 3 . . PUNCT emaj-17 437 1 ( ( PUNCT emaj-17 437 2 2007 2007 NUM emaj-17 437 3 ) ) PUNCT emaj-17 437 4 . . PUNCT emaj-17 438 1 31 31 NUM emaj-17 438 2 . . PUNCT emaj-17 439 1 pacek pacek NOUN emaj-17 439 2 , , PUNCT emaj-17 439 3 alexander alexander PROPN emaj-17 439 4 c. c. PROPN emaj-17 439 5 “ " PUNCT emaj-17 439 6 political political ADJ emaj-17 439 7 culture culture NOUN emaj-17 439 8 resurgent resurgent NOUN emaj-17 439 9 ” " PUNCT emaj-17 439 10 . . PUNCT emaj-17 440 1 international international ADJ emaj-17 440 2 studies study NOUN emaj-17 440 3 review review VERB emaj-17 440 4 . . PUNCT emaj-17 441 1 6 6 NUM emaj-17 441 2 ( ( PUNCT emaj-17 441 3 2004):492 2004):492 NUM emaj-17 441 4 - - SYM emaj-17 441 5 495 495 NUM emaj-17 441 6 . . PUNCT emaj-17 442 1 32 32 NUM emaj-17 442 2 . . PUNCT emaj-17 443 1 rose rose NOUN emaj-17 443 2 - - PUNCT emaj-17 443 3 ackerman ackerman NOUN emaj-17 443 4 , , PUNCT emaj-17 443 5 susan susan PROPN emaj-17 443 6 . . PUNCT emaj-17 444 1 “ " PUNCT emaj-17 444 2 the the DET emaj-17 444 3 political political ADJ emaj-17 444 4 economy economy NOUN emaj-17 444 5 of of ADP emaj-17 444 6 corruption corruption NOUN emaj-17 444 7 ” " PUNCT emaj-17 444 8 . . PUNCT emaj-17 445 1 corruption corruption NOUN emaj-17 445 2 and and CCONJ emaj-17 445 3 the the DET emaj-17 445 4 global global ADJ emaj-17 445 5 economy economy NOUN emaj-17 445 6 . . PUNCT emaj-17 446 1 institute institute PROPN emaj-17 446 2 for for ADP emaj-17 446 3 international international ADJ emaj-17 446 4 economics economic NOUN emaj-17 446 5 , , PUNCT emaj-17 446 6 ( ( PUNCT emaj-17 446 7 1997 1997 NUM emaj-17 446 8 ) ) PUNCT emaj-17 446 9 31 31 NUM emaj-17 446 10 - - SYM emaj-17 446 11 60 60 NUM emaj-17 446 12 . . PUNCT emaj-17 447 1 33 33 NUM emaj-17 447 2 . . PUNCT emaj-17 448 1 transparency transparency NOUN emaj-17 448 2 international international PROPN emaj-17 448 3 . . PUNCT emaj-17 449 1 cpi cpi PROPN emaj-17 449 2 index index PROPN emaj-17 449 3 . . PUNCT emaj-17 450 1 accessed access VERB emaj-17 450 2 june june PROPN emaj-17 450 3 2 2 NUM emaj-17 450 4 , , PUNCT emaj-17 450 5 2009 2009 NUM emaj-17 450 6 . . PUNCT emaj-17 451 1 http://www.transparency.org/policy_research/surveys_indices/cpi http://www.transparency.org/policy_research/surveys_indices/cpi INTJ emaj-17 451 2 . . PUNCT emaj-17 452 1 the the DET emaj-17 452 2 influence influence NOUN emaj-17 452 3 of of ADP emaj-17 452 4 corruption corruption NOUN emaj-17 452 5 on on ADP emaj-17 452 6 corporate corporate ADJ emaj-17 452 7 governance governance NOUN emaj-17 452 8 standards standard NOUN emaj-17 452 9 : : PUNCT emaj-17 452 10 shared share VERB emaj-17 452 11 characteristics characteristic NOUN emaj-17 452 12 of of ADP emaj-17 452 13 rapidly rapidly ADV emaj-17 452 14 developing develop VERB emaj-17 452 15 economies economy NOUN emaj-17 452 16 emerging emerge VERB emaj-17 452 17 markets market NOUN emaj-17 452 18 journal journal NOUN emaj-17 452 19 | | ADV emaj-17 452 20 p p NOUN emaj-17 452 21 a a PRON emaj-17 452 22 g g NOUN emaj-17 452 23 e e NOUN emaj-17 452 24 | | ADV emaj-17 452 25 37 37 NUM emaj-17 452 26 volume volume NOUN emaj-17 452 27 2 2 NUM emaj-17 452 28 ( ( PUNCT emaj-17 452 29 2012 2012 NUM emaj-17 452 30 ) ) PUNCT emaj-17 452 31 | | ADV emaj-17 452 32 issn issn VERB emaj-17 452 33 2158 2158 NUM emaj-17 452 34 - - SYM emaj-17 452 35 8708 8708 NUM emaj-17 452 36 ( ( PUNCT emaj-17 452 37 online online NOUN emaj-17 452 38 ) ) PUNCT emaj-17 452 39 | | ADV emaj-17 452 40 doi doi X emaj-17 452 41 10.5195 10.5195 NUM emaj-17 452 42 / / SYM emaj-17 452 43 emaj.2012.17 emaj.2012.17 NOUN emaj-17 452 44 | | ADV emaj-17 452 45 http://emaj.pitt.edu http://emaj.pitt.edu VERB emaj-17 452 46 34 34 NUM emaj-17 452 47 . . PUNCT emaj-17 452 48 unctad unctad PROPN emaj-17 452 49 . . PUNCT emaj-17 453 1 foreign foreign ADJ emaj-17 453 2 direct direct ADJ emaj-17 453 3 investment investment NOUN emaj-17 453 4 database database NOUN emaj-17 453 5 . . PUNCT emaj-17 454 1 country country NOUN emaj-17 454 2 reports report VERB emaj-17 454 3 . . PUNCT emaj-17 455 1 accessed access VERB emaj-17 455 2 june june PROPN emaj-17 455 3 2 2 NUM emaj-17 455 4 , , PUNCT emaj-17 455 5 2009 2009 NUM emaj-17 455 6 . . PUNCT emaj-17 456 1 http://www.unctad.org/templates/page.asp?intitemid=1923&lang=1 http://www.unctad.org/templates/page.asp?intitemid=1923&lang=1 PROPN emaj-17 456 2 . . PUNCT emaj-17 457 1 35 35 NUM emaj-17 457 2 . . PUNCT emaj-17 458 1 woochan woochan INTJ emaj-17 458 2 , , PUNCT emaj-17 458 3 kim kim PROPN emaj-17 458 4 and and CCONJ emaj-17 458 5 black black ADJ emaj-17 458 6 , , PUNCT emaj-17 458 7 bernard bernard PROPN emaj-17 458 8 , , PUNCT emaj-17 458 9 s. s. PROPN emaj-17 458 10 and and CCONJ emaj-17 458 11 jang jang PROPN emaj-17 458 12 , , PUNCT emaj-17 458 13 hasung hasung PROPN emaj-17 458 14 . . PUNCT emaj-17 459 1 “ " PUNCT emaj-17 459 2 does do AUX emaj-17 459 3 corporate corporate ADJ emaj-17 459 4 governance governance NOUN emaj-17 459 5 affect affect VERB emaj-17 459 6 firms firm NOUN emaj-17 459 7 ’ ’ PART emaj-17 459 8 market market NOUN emaj-17 459 9 values value NOUN emaj-17 459 10 ? ? PUNCT emaj-17 459 11 ” " PUNCT emaj-17 459 12 social social ADJ emaj-17 459 13 science science PROPN emaj-17 459 14 research research PROPN emaj-17 459 15 network.(2003 network.(2003 PROPN emaj-17 459 16 ) ) PUNCT emaj-17 459 17 last last ADJ emaj-17 459 18 modified modify VERB emaj-17 459 19 june june PROPN emaj-17 459 20 8 8 NUM emaj-17 459 21 , , PUNCT emaj-17 459 22 2011 2011 NUM emaj-17 459 23 . . PUNCT emaj-17 460 1 http://papers.ssrn.com/abstract=311275 http://papers.ssrn.com/abstract=311275 ADJ emaj-17 460 2 . . PUNCT emaj-17 461 1 36 36 NUM emaj-17 461 2 . . PUNCT emaj-17 461 3 world world PROPN emaj-17 461 4 bank bank PROPN emaj-17 461 5 . . PUNCT emaj-17 462 1 “ " PUNCT emaj-17 462 2 helping help VERB emaj-17 462 3 countries country NOUN emaj-17 462 4 combat combat NOUN emaj-17 462 5 corruption corruption NOUN emaj-17 462 6 : : PUNCT emaj-17 462 7 the the DET emaj-17 462 8 role role NOUN emaj-17 462 9 of of ADP emaj-17 462 10 the the DET emaj-17 462 11 world world PROPN emaj-17 462 12 bank bank PROPN emaj-17 462 13 , , PUNCT emaj-17 462 14 poverty poverty NOUN emaj-17 462 15 reduction reduction NOUN emaj-17 462 16 and and CCONJ emaj-17 462 17 economic economic ADJ emaj-17 462 18 management management NOUN emaj-17 462 19 ” " PUNCT emaj-17 462 20 . . PUNCT emaj-17 463 1 ( ( PUNCT emaj-17 463 2 2007 2007 NUM emaj-17 463 3 ) ) PUNCT emaj-17 463 4 accessed access VERB emaj-17 463 5 june june PROPN emaj-17 463 6 2 2 NUM emaj-17 463 7 , , PUNCT emaj-17 463 8 2009 2009 NUM emaj-17 463 9 . . PUNCT emaj-17 464 1 www.worldbank.org/publicsector/anticorrupt/corruptn/coridx.htm www.worldbank.org/publicsector/anticorrupt/corruptn/coridx.htm X emaj-17 464 2 . . PUNCT emaj-17 465 1 37 37 NUM emaj-17 465 2 . . PUNCT emaj-17 466 1 world world PROPN emaj-17 466 2 bank bank PROPN emaj-17 466 3 . . PUNCT emaj-17 467 1 world world PROPN emaj-17 467 2 development development PROPN emaj-17 467 3 report report PROPN emaj-17 467 4 1997 1997 NUM emaj-17 467 5 : : PUNCT emaj-17 467 6 “ " PUNCT emaj-17 467 7 the the DET emaj-17 467 8 state state NOUN emaj-17 467 9 in in ADP emaj-17 467 10 a a DET emaj-17 467 11 changing change VERB emaj-17 467 12 world world NOUN emaj-17 467 13 ” " PUNCT emaj-17 467 14 . . PUNCT emaj-17 468 1 ( ( PUNCT emaj-17 468 2 oxford oxford NOUN emaj-17 468 3 : : PUNCT emaj-17 468 4 oxford oxford PROPN emaj-17 468 5 university university PROPN emaj-17 468 6 press press NOUN emaj-17 468 7 , , PUNCT emaj-17 468 8 2007 2007 NUM emaj-17 468 9 ) ) PUNCT emaj-17 468 10 . . PUNCT emaj-17 469 1 38 38 NUM emaj-17 469 2 . . PUNCT emaj-17 470 1 wu wu PROPN emaj-17 470 2 , , PUNCT emaj-17 470 3 xun xun PROPN emaj-17 470 4 . . PUNCT emaj-17 471 1 “ " PUNCT emaj-17 471 2 corporate corporate ADJ emaj-17 471 3 governance governance NOUN emaj-17 471 4 and and CCONJ emaj-17 471 5 corruption corruption NOUN emaj-17 471 6 : : PUNCT emaj-17 471 7 a a DET emaj-17 471 8 cross cross ADJ emaj-17 471 9 - - ADJ emaj-17 471 10 country country ADJ emaj-17 471 11 analysis analysis NOUN emaj-17 471 12 ” " PUNCT emaj-17 471 13 . . PUNCT emaj-17 472 1 governance governance NOUN emaj-17 472 2 : : PUNCT emaj-17 472 3 an an DET emaj-17 472 4 international international ADJ emaj-17 472 5 journal journal NOUN emaj-17 472 6 of of ADP emaj-17 472 7 policy policy NOUN emaj-17 472 8 , , PUNCT emaj-17 472 9 administration administration NOUN emaj-17 472 10 and and CCONJ emaj-17 472 11 institutions institution NOUN emaj-17 472 12 . . PUNCT emaj-17 473 1 18(2 18(2 X emaj-17 473 2 ) ) PUNCT emaj-17 473 3 ( ( PUNCT emaj-17 473 4 2005 2005 NUM emaj-17 473 5 ): ): PUNCT emaj-17 473 6 151 151 NUM emaj-17 473 7 - - SYM emaj-17 473 8 170 170 NUM emaj-17 473 9 . . NOUN emaj-17 473 10 39 39 NUM emaj-17 473 11 . . PUNCT emaj-17 474 1 yurtoglu yurtoglu PROPN emaj-17 474 2 , , PUNCT emaj-17 474 3 b. b. PROPN emaj-17 474 4 burcin burcin PROPN emaj-17 474 5 . . PUNCT emaj-17 475 1 “ " PUNCT emaj-17 475 2 ownership ownership NOUN emaj-17 475 3 structure structure NOUN emaj-17 475 4 of of ADP emaj-17 475 5 turkish turkish ADJ emaj-17 475 6 listed list VERB emaj-17 475 7 firms firm NOUN emaj-17 475 8 ” " PUNCT emaj-17 475 9 . . PUNCT emaj-17 476 1 istanbul istanbul PROPN emaj-17 476 2 stock stock PROPN emaj-17 476 3 exchange exchange PROPN emaj-17 476 4 finance finance PROPN emaj-17 476 5 award award PROPN emaj-17 476 6 series series NOUN emaj-17 476 7 . . PUNCT emaj-17 477 1 1(2000 1(2000 NUM emaj-17 477 2 ): ): PUNCT emaj-17 477 3 55 55 NUM emaj-17 477 4 - - SYM emaj-17 477 5 84 84 NUM emaj-17 477 6 . . PUNCT emaj-17 478 1 40 40 NUM emaj-17 478 2 . . PUNCT emaj-17 479 1 zarb zarb NOUN emaj-17 479 2 , , PUNCT emaj-17 479 3 bert bert PROPN emaj-17 479 4 j. j. PROPN emaj-17 479 5 “ " PUNCT emaj-17 479 6 do do VERB emaj-17 479 7 credible credible ADJ emaj-17 479 8 financial financial ADJ emaj-17 479 9 reporting reporting NOUN emaj-17 479 10 and and CCONJ emaj-17 479 11 government government NOUN emaj-17 479 12 intervention intervention NOUN emaj-17 479 13 play play VERB emaj-17 479 14 a a DET emaj-17 479 15 role role NOUN emaj-17 479 16 in in ADP emaj-17 479 17 preventing prevent VERB emaj-17 479 18 corruption corruption NOUN emaj-17 479 19 ? ? PUNCT emaj-17 480 1 a a DET emaj-17 480 2 preliminary preliminary ADJ emaj-17 480 3 investigation investigation NOUN emaj-17 480 4 of of ADP emaj-17 480 5 the the DET emaj-17 480 6 european european PROPN emaj-17 480 7 union union PROPN emaj-17 480 8 ” " PUNCT emaj-17 480 9 . . PUNCT emaj-17 481 1 journal journal PROPN emaj-17 481 2 of of ADP emaj-17 481 3 international international ADJ emaj-17 481 4 business business NOUN emaj-17 481 5 and and CCONJ emaj-17 481 6 economics economic NOUN emaj-17 481 7 . . PUNCT emaj-17 482 1 ( ( PUNCT emaj-17 482 2 2007 2007 NUM emaj-17 482 3 ) ) PUNCT emaj-17 482 4 149 149 NUM emaj-17 482 5 - - SYM emaj-17 482 6 163 163 NUM emaj-17 482 7 . . PUNCT