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This volume summarizes the theoretical and empirical research on the topic of corporate governance.
Corporate governance is an active area of research and public debate. The recent generalization of 'shareholder value' ideas and institutional investment, the establishment of codes of best practice for boards of directors, and the controversy about whether market oriented or bank-relations oriented systems are better for economic performance provide cogent examples. The outcome of the debate is important for industrialized nations, developing countries, and transition economies. The volume…mehr

Produktbeschreibung
This volume summarizes the theoretical and empirical research on the topic of corporate governance.

Corporate governance is an active area of research and public debate. The recent generalization of 'shareholder value' ideas and institutional investment, the establishment of codes of best practice for boards of directors, and the controversy about whether market oriented or bank-relations oriented systems are better for economic performance provide cogent examples. The outcome of the debate is important for industrialized nations, developing countries, and transition economies. The volume takes stock of research in the topic, criticizes the standard agency view, and presents ideas and analysis about the role of competition, the political economy of corporate governance, the effects of different systems on growth and performance, the governance system by venture capital in the Silicon Valley, and human capital and control in the new corporation.

Table of contents:
Preface; Contributors; 1. Corporate governance: does it matter? Xavier Vives; 2. Corporate governance and competition Franklin Allen and Douglas Gale; Discussion A Jorge Padilla; Discussion B Monika Schnitzer; 3. On the economics and politics of corporate finance and corporate control Martin Hellwig; Discussion Andrei Shleifer; 4. How do financial systems affect economic performance? Wendy Carlin and Colin Mayer; Discussion A Marco Betch; Discussion B Vicente Salas; 5. Information and governance in the Silicon Valley model Masahiko Aoki; Discussion Miguel A. GarcÃa-Cestona; 6. The governance of the new enterprise Raghuram G. Rajan and Luigi Zingales; Discussion A Carmen Matutes; Discussion B Joan Enric Ricart; Index.