Political Determinants of Corporate Governance PDF Download

Author: Mark J. Roe
Publisher: Oxford University Press, USA
ISBN: 9780199205301
Category : Business & Economics
Languages : en
Pages : 260

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Book Description
In a painstaking analysis, Roe (law, Harvard Law School) examines the impact of a nation's strong social policies on the corporate governance, suggesting that stronger social policies can cause an American style of diffuse ownership among shareholders to fail. The link between social policies and corporate governance is examined statistically for a large number of countries, and in case studies for seven: Italy, Germany, Sweden, the UK, France, Japan, and the US. Product markets, securities markets, and the ability of corporate and economic structures to induce a political backlash are discussed. Annotation (c)2003 Book News, Inc., Portland, OR (booknews.com).

Author: Peter A. Gourevitch
Publisher: Princeton University Press
ISBN: 1400837014
Category : Business & Economics
Languages : en
Pages : 365

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Book Description
Why does corporate governance--front page news with the collapse of Enron, WorldCom, and Parmalat--vary so dramatically around the world? This book explains how politics shapes corporate governance--how managers, shareholders, and workers jockey for advantage in setting the rules by which companies are run, and for whom they are run. It combines a clear theoretical model on this political interaction, with statistical evidence from thirty-nine countries of Europe, Asia, Africa, and North and South America and detailed narratives of country cases. This book differs sharply from most treatments by explaining differences in minority shareholder protections and ownership concentration among countries in terms of the interaction of economic preferences and political institutions. It explores in particular the crucial role of pension plans and financial intermediaries in shaping political preferences for different rules of corporate governance. The countries examined sort into two distinct groups: diffuse shareholding by external investors who pick a board that monitors the managers, and concentrated blockholding by insiders who monitor managers directly. Examining the political coalitions that form among or across management, owners, and workers, the authors find that certain coalitions encourage policies that promote diffuse shareholding, while other coalitions yield blockholding-oriented policies. Political institutions influence the probability of one coalition defeating another.

Author:
Publisher:
ISBN:
Category : Business and politics
Languages : en
Pages : 231

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Author: Chenxia Shi
Publisher: Routledge
ISBN: 1136338365
Category : Law
Languages : en
Pages : 287

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Book Description
This book investigates the key factors shaping corporate governance in China and presents a sophisticated study of corporate governance in China from a comparative and historical perspective. Drawing on extensive corporate governance literature, this book articulates why path dependence theory is the most effective framework for interpreting the development path of Chinese corporate governance. Chenxia Shi reviews the historical role of government in commercial development and regulation in dynastic China and in early corporate law-making, followed by an account of China’s legal and economic development over the last three decades. This historical inquiry identifies government control as the key feature of economic and market regulation in China. In particular, this book canvasses the evolution of governance of State-Owned Enterprises and listed companies, major corporate governance problems, regulatory challenges posed by China’s increasing participation in economic globalization, and enforcement difficulties particularly in relation to investor protection, directors’ duties and accountability. Ultimately, Political Determinants of Corporate Governance in China demonstrates that corporate governance in China is largely determined by political imperatives and those political imperatives have been shaped and re-shaped in a historical process.

Author: Christian Harm
Publisher:
ISBN:
Category :
Languages : en
Pages : 24

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Book Description
Corporate governance mechanisms can be seen as market and hierarchical institutions completing incomplete financial contracts. Since 'governance' is a rather vague concept, a variety of such mechanisms have been tried in various national settings, where they compete with and substitute for each other within the respective legal settings in a quest for a more efficient regime of financial intermediation. This objective implies a statistical endogeneity problem in much of the relevant empirical research in corporate governance, which has triggered a search for truly exogenous variables to explain the success of various national regimes. After 'legal origin' and 'institutions' have been advanced as possible answers, a central purpose of the paper is to offer the 'political regime' as another largely exogenous variable that shapes the legal order of a country, including its corporate governance regime. Political regimes are defined as constraints to the rent-seeking ambitions of politicians. The essay links stereotypical polar cases of political regimes both abstractly as well as through cases with corporate governance practices and financial sector structures in different countries. Modern corporate governance research has recognized that definition and enforcement of a country's legal order are fundamental pillars of a society's corporate governance regime and financial sector structure which ultimately contribute significantly to economic growth. This paper wishes to extend the causality chain backwards to political institutions as an explanatory variable to internationally observed variance in corporate governance and financial sector regime structures as well as economic performance.

Author: Chenxia Shi
Publisher:
ISBN:
Category : China
Languages : en
Pages : 578

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Book Description

Author: Jeffrey Neil Gordon
Publisher: Oxford University Press
ISBN: 0198743688
Category : Business & Economics
Languages : en
Pages : 1217

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Book Description
Corporate law and governance are at the forefront of regulatory activities worldwide, and subject to increasing public attention in the wake of the Global Financial Crisis. Comprehensively referencing the key debates, the Handbook provides a much-needed framework for understanding the aims and methods of legal research in the field.

Author: Stephen Wilks
Publisher: Edward Elgar Publishing
ISBN: 1849807329
Category : Business & Economics
Languages : en
Pages : 330

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Book Description
The large business corporation has become a governing institution in national and global politics. This study offers a critical account of its political dominance and lack of democratic legitimacy.

Author: Dennis C. Mueller
Publisher:
ISBN:
Category :
Languages : en
Pages : 0

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Book Description
Over the last 25 years the term "corporate governance" has entered the lexicon of economists and other students of business. This development has been accompanied by growing interest in differences in institutional structures - like corporate governance systems - across countries. Among the many questions regarding the effects of corporate governance systems that have been examined, one of the most important has been to measure the effects of corporate governance systems on corporate performance somehow measured, or more broadly the economic performance of countries. This paper reviews some of this evidence and takes up the questions of which system is "best," and whether this superiority is likely to lead to a convergence of corporate governance structures over time. With a few exceptions, most studies of the effects of corporate governance institutions treat them as exogenous. This paper also discusses the historical and political determinants of corporate governance institutions.

Author: Janet Dine
Publisher: Edward Elgar Publishing
ISBN: 1781006121
Category : Business & Economics
Languages : en
Pages : 388

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Book Description
This book presents a thoughtful inquiry into the nature and rationale of corporate governance. The authors address fundamental questions including; What is the balance between ownership and control?; For whose interests should the company be run?; What is the institutional balance between shareholders, directors and other potential stakeholders, including the economy? Professor Dine and Dr Koutsias consider how these issues are dealt with by the jurisprudence of three major and greatly influential jurisdictions; the USA, the UK, and Germany, and also reflect on why and how the current corporate governance context in some states is defined by social, political and historical developments. The authors argue that corporate governance is crucial for the identity of each country. What is revealed in the work is that when national corporate governance is thriving it allows space for democracy to flourish. Corporate governance scholars, policy makers, LLM and LLB students of company law and corporate governance, NGOs involving issues of inequality, poverty and democracy will find this important book an insightful resource.