Corporate Governance And Economic Performance

Manufacturer

Usa Oxford University Press

Corporate governance has time and again been the subject of extensive scrutiny and controversy. Much of the debate of the 1960s and 1970s focused on the managerial corporation in the USA and the UK, inspired by the seminal work of Berle and Means (1932). The separation of ownership from control has been blamed for spectacular business failures. While there is ample evidence about corporate governance and performance in the USA and the UK, very little is known about the functioning of corporate governance elsewhere. Corporate Governance and Economic Performance presents evidence about corporate governance and performance in a large number of countries. It is the result of a collective research effort by the members of the European Corporate Governance Network (ECGN), which brought together 'country teams' familiar with the language and corporate culture of their respective countries. The volume focuses on Austria, Belgium, Germany, France, Italy, Japan, the Netherlands, Spain, Turkey, the United Kingdom, and the United States. While the 'owner-manager conflict' appears to dominate in the USA and the UK, the 'large-small shareholder' conflict is important in Continental Europe. Based on this evidence, the authors derive important policy implications for capital market reform in Europe. Review: This book fills an important gap by providing a wealth of useful insights and references on the complex and previously evasive subject of corporate governance and economic performance. Professor Thomas Andersson, President of IkED, Sweden I have visited all the countries concerned in the cause of corporate governance and I appreciate how valuable I would have found this book at those times. It is well written, clear and up-to-date Adrian Cadbury, Business Economist, Vol.32, No.3 'Corporate Governance and Economic Performance is an important addition to governance literature ... This book fills a gap by addressing primarily the relationship between share ownership and performance and by including countries that are outside the main stream of writing on corporate governance. Corporate Governance and Economic Performance is mine of good information and sound advice which deserves to be well quarried' Sir Adrian Cadbury, The Business Economist.