The Global History of Corporate Governance: An Introduction / Randall K. Morck, Lloyd Steier.

Format:

Book

Author/Creator:

Morck, Randall K.

Contributor:

National Bureau of Economic Research.

Steier, Lloyd.

Series:

Working Paper Series (National Bureau of Economic Research) no. w11062.

NBER working paper series no. w11062

Language:

English

Physical Description:

1 online resource: illustrations (black and white);

Other Title:

The Global History of Corporate Governance

Place of Publication:

Cambridge, Mass. National Bureau of Economic Research 2005.

Summary:

This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as far back into preindustrial period; legal system origin, though in a more nuanced form than mere statutory shareholder rights; and wealthy families. They also clarify the roles of ideologies, business groups, trust, institutional transplants, and politics in institutional evolution and financial development. Other themes are the universality of business insiders' investments in, entrenchment, and a possible behavioral basis for this.

Notes:

Print version record

January 2005.