Corporate Governance in the US and Europe

Corporate Governance in the US and Europe
Author: G. Owen
Publisher: Springer
Total Pages: 170
Release: 2005-10-31
Genre: Business & Economics
ISBN: 0230512453

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Corporate Governance in the US and Europe provides a comprehensive and concise overview of the most recent developments in corporate governance. It is based on a recent joint conference arranged by New York University and the London School of Economics, which brought together eminent academics and practitioners, including Michael Jensen in Finance and Martin Lipton in Law, to discuss the stock market boom-and-bust, and the recent corporate scandals. The book is aimed at practitioners, policy makers and academics who have to deal with corporate governance.

The International Corporate Governance System

The International Corporate Governance System
Author: F. Lessambo
Publisher: Springer
Total Pages: 476
Release: 2016-01-26
Genre: Business & Economics
ISBN: 1137360011

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This book provides a comprehensive approach to Corporate Governance, Audit Process and Risk Management. Furthermore, it provides an analytical and comprehensive approach of the issues facing governance directors, internal and external auditors, risk managers, and public officials conducting assessments based upon the Report on Standards and Codes.

Corporate Governance in the United States as Seen from Europe

Corporate Governance in the United States as Seen from Europe
Author: Gerard Hertig
Publisher:
Total Pages:
Release: 1998
Genre:
ISBN:

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The aim of this article is to offer a European perspective on the need for new or additional law and economics research in U.S. corporate governance. First, to a European, the existence of protective devices against foreign legal competition provides support to the proposition that the rules applicable to U.S. corporate governance are not as robust as might be expected from the leading market economy. Surprisingly, there is no truly convincing explanation as to why market failures continue to justify such a system. Second, the role of middle management, the impact of quot;newquot; management trends and the role of individuals in a more distribution-oriented economy are topics that should be recognized as of critical importance to the modern firm. However, although the United States pioneered the combination of legal, economic and behavioral analysis, there seems to be a natural reluctance by U.S. law and economics analysts to address those internal management issues. This is not to imply that these issues are new or necessarily relevant from a corporate governance point of view. On the other hand, this is another area that certainly deserves more attention than has been given up until now. Finally, there are two more specific issues of corporate governance that have been given less attention than they seem to deserve. First, auditors and quot;indirectquot; monitors, in particular mutual fund investors, are important players in corporate governance. Nevertheless, the behavior and influence of auditors within the corporation and the governance of mutual funds are issues that have not been focused upon to date. Second, it is difficult for an outsider to understand why U.S. fiduciary duties differ from the duties of boards under non-U.S. systems. This is often proclaimed, but the substantive and enforcement arguments made are not convincing.

German Corporate Governance in International and European Context

German Corporate Governance in International and European Context
Author: Jean J. du Plessis
Publisher: Springer Science & Business Media
Total Pages: 540
Release: 2012-01-14
Genre: Law
ISBN: 3642230040

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Corporate governance encompasses the free enterprise system, which is treated comprehensively in this book from a German perspective. This distinguishes the book from other books written in English in this subject area, not only because of the comprehensive way it covers German corporate law and corporate governance, but also because of the fact that it provides international and European perspectives on these important topics. This second edition is an extensively revised and updated version of the first edition, in particular with a view to the worldwide debt crisis. The authors provide readers with an overview of the unique features of German business and enterprise law and an in-depth analysis of the organs of governance of German public limited companies (general meeting, management board, supervisory board). In addition, approaches for reforms required at the international level are also suggested and discussed, including, among others, the unique interplay and dynamics of the German two-tier board model with the system of codetermination, referring to the arrangement of employees sitting on the supervisory boards of German public limited companies and private companies employing more than 500 employees; also covered are significant recent legal developments in Europe. The book highlights the core function of valuation and financial reporting at the international, European and German levels, with accounting as the documentary proof of good corporate governance. It also expands the scope of the first edition by a treatment of the German financial sector, global corporate finance and governance, and by including a new chapter on compliance of corporate governance laws, rules and standards in Germany. As far as comparative law is concerned, new developments in the area of corporate governance in the EU, the OECD Principles of Corporate Governance and corporate governance in the US, the UK and Australia are covered. The book is addressed to researchers, practitioners and basically anyone with an interest in the complex, but intriguing areas of corporate law and corporate governance.

Corporate Governance in Context

Corporate Governance in Context
Author: Klaus J. Hopt
Publisher:
Total Pages: 976
Release: 2005
Genre: Corporate governance
ISBN:

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Increased regulatory competition has sharpened the comparative awareness of advantages or disadvantages of different national models of political economy, economic organization, governance and regulation. Although institutional change is slow and subject to functional complementarities as wellas social and cultural entrenchment, at least some features of successful modern market economies have been in the process of converging over the last decades. The most important change is a shift in governance from state to the market. As bureaucratic ex-ante control is replaced by judicial ex-postcontrol, administrative discretion is replaced by the rule of law as guidelines for the economy. Furthermore, at least to some extent, public enforcement is being reduced in favor of private enforcement by way of disclosure, enhanced liability, and correspondent litigation for damages. Corporatistapproaches to governance are giving way to market approaches, and outsider and market-oriented corporate governance models seem to be replacing insider-based regimes.This transition is far from smooth and poses a daunting challenge to regulators and academics trying to redefine the fundamental governance and regulatory setting. They are confronted with the task of making or keeping the national regulatory structure attractive to investors in the face ofcompetitive pressures from other jurisdictions to adopt state-of-the-art solutions. At the same time, however, they must establish a coherent institutional framework that accommodates the efficient, modern rules with the existing and hard-to-change institutional setting. These challenges - put in acomparative and interdisciplinary perspective - are the subject of the book. As a reflection of the transnationality of the issues addressed, the world's three leading economies and their legal systems are included on an equal basis: the EU, the U.S., and Japan across each of the subtopics ofcorporations, bureaucracy and regulation, markets, and intermediaries.

Corporate Governance in Russia

Corporate Governance in Russia
Author: Daniel J. McCarthy
Publisher: Edward Elgar Publishing
Total Pages: 456
Release: 2004-01-01
Genre: Business & Economics
ISBN: 9781781958216

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Given the past decade of abuse of shareholder rights, corporate governance is essential for Russia's future. In this comprehensive volume, an international group of contributors - academics, corporate executives, government officials, policymakers, specialists from nongovernmental organizations, and legal experts - examine the crucial role of corporate governance as well as the external institutions and forces that affect it. Offering coverage from numerous perspectives, the contributors explore external and institutional influences on corporate governance, its workings within corporations, and the relationships between boards of directors, managers, shareholders, and the government. Case studies of three major companies illustrate the challenges and opportunities involved in creating sound practices. The concluding section provides a summary of the current situation and discusses implications for the future of Russia's corporate governance. A valuable source of information, Corporate Governance in Russia is a must-read for business people, government officials, academic researchers, students, and all those interested in Russia and what the future holds.

European Corporate Governance

European Corporate Governance
Author: Thomas Clarke
Publisher: Routledge
Total Pages: 422
Release: 2009-06-24
Genre: Business & Economics
ISBN: 113413598X

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In light of the most severe financial crisis since the 1930s, this intelligent look at European corporate governance brings out the richness of European corporate governance systems and highlights historical weaknesses that will require further work for a sustainable corporate governance environment in the future.

Comparative Corporate Governance

Comparative Corporate Governance
Author: Afra Afsharipour
Publisher: Edward Elgar Publishing
Total Pages: 544
Release: 2021-06-25
Genre: Law
ISBN: 1788975332

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This research handbook provides a state-of-the-art perspective on how corporate governance differs between countries around the world. It covers highly topical issues including corporate purpose, corporate social responsibility and shareholder activism.

Corporate Governance, Competition, and Political Parties

Corporate Governance, Competition, and Political Parties
Author: Roger M. Barker
Publisher: OUP Oxford
Total Pages: 352
Release: 2010-01-21
Genre: Political Science
ISBN: 0191610356

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The corporate governance systems of continental Europe have traditionally been quite different to those of the liberal market economies (e.g. the US and the UK). Company ownership has been dominated by incumbent blockholders, with a relatively minor role for minority shareholders and institutional investors. Business strategy has focused on the achievement of social stability - taking into account the interests of a broad group stakeholders - rather than the maximisation of shareholder value. However, since the mid-1990s, European corporations have adopted many of the characteristics of the Anglo-American shareholder model. Furthermore, such an increased shareholder-orientation has coincided with a significant role for the Left in European government. This presents a puzzle, as conventional wisdom does not usually conceive of the Left as an enthusiastic proponent of pro-shareholder capitalism. This book provides an analysis of this paradox by examining how economic factors have interacted with the policy preferences of political parties to cause a significant change in the European system of corporate governance. This book argues that the post-war support of the European Left for the prevailing blockholder-dominated corporate system depended on the willingness of blockholders to share economic rents with employees, both through higher wages and greater employment stability. However, during the 1990s, product markets became more competitive in many European countries. The sharing of rents between social actors became increasingly difficult to sustain. In such an environment, the Left relinquished its traditional social partnership with blockholders and embraced many aspects of the shareholder model. This explanation is supported through a panel data econometric analysis of 15 non-liberal market economies. Subsequent case study chapters examine the political economy of recent corporate governance change in Germany and Italy.

Convergence and Persistence in Corporate Governance

Convergence and Persistence in Corporate Governance
Author: Jeffrey N. Gordon
Publisher: Cambridge University Press
Total Pages: 396
Release: 2004-04-08
Genre: Business & Economics
ISBN: 9780521536011

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Corporate governance is on the reform agenda all over the world. How will global economic integration affect the different systems of corporate ownership and governance? Is the Anglo-American model of shareholder capitalism destined to become the template for a converging global corporate governance standard or will the differences persist? This reader contains classic work from leading scholars addressing this question as well as several new essays. In a sophisticated political economy analysis that is also attuned to the legal framework, the authors bring to bear efficiency arguments, politics, institutional economics, international relations, industrial organization, and property rights. These questions have become even more important in light of the post-Enron corporate governance crisis in the United States and the European Union's repeated efforts at corporate integration. This will become a key text for postgraduates and academics.