Notice of RetractionComparative analysis on corporate governance in BRICs

Notice of Retraction

After careful and considered review of the content of this paper by a duly constituted expert committee, this paper has been found to be in violation of IEEE´s Publication Principles.

We hereby retract the content of this paper. Reasonable effort should be made to remove all past references to this paper.

The presenting author of this paper has the option to appeal this decision by contacting TPII@ieee.org.

This paper selects BRICs as representatives of emerging market countries, systematically compares and analyzes their differences and similarities in the aspects of corporate governance structure, ownership structure, capital market and macroeconomic performance. The research shows that the modes of corporate governance among BRICs are of diversity, which results from discrepant institutional environments, and that evolves with the change of institutional environments. Under given conditions, they are all efficient. Actually, corporate governance and its process of evolution are multiple equilibria which formed through the evolutionary game of various institutional arrangements. Therefore, in order to improve the corporate governance efficiency in China, we should learn from and draw on the experiences of other countries on one hand and combine them with Chinese actual conditions on the other, and create a characteristic system of corporate governance.