The “Asian Crisis” of 1997–98 affec

The “Asian Crisis” of 1997–98 affected all the “emerging markets” open to capital flows. Measures of corporate governance, particularly the effectiveness of protection for minority shareholders, explain the extent of exchange rate depreciation and stock market decline better than do standard macroeconomic measures. A possible explanation is that in countries with weak corporate governance, worse economic prospects result in more expropriation by managers and thus a larger fall in asset prices.

ผลลัพธ์ (ไทย) 1:

"Asian Crisis" of 1997-98 affected at all. "Emerging markets" open to Capital flows, regulatory measures. The Performance of the defense for the Stock. Clarifying the scope of the Exchange rate Depreciation and Stock Market decline better than standard macroeconomic explanation. is possible. Weak Governance in the Country Poor Economic results Expropriated by the Manager. And in Asset prices Large Falls.

ผลลัพธ์ (ไทย) 2:

"Asian Crisis" of 1997-1998 affected all. "Emerging markets" open to Capital flows measure Governance, particularly the effectiveness of Protection for Minority shareholders describing the scope of Depreciation and Exchange rate down, the Stock Market Make better Room. Drive to the standard macroeconomic explanation is that in countries where Governance is weak, the worse the Economic Outlook resulted in the expropriation of more executives and Big Autumn. Asset prices