A History Of Corporate Governance Around The World

by Morck, Randall K.

• ISBN13: 9780226536804
• ISBN10: 0226536807
• Format: Hardcover
• Copyright: 2006-01-16
• Publisher: Univ of Chicago Pr

Summary

For many Americans, capitalism is a dynamic engine of prosperity that rewards the bold, the daring, and the hardworking. But to many outside the United States, capitalism seems like an initiative that serves only to concentrate power and wealth in the hands of a few hereditary oligarchies. As A History of Corporate Governance around the World shows, neither conception is wrong. In this volume, some of the brightest minds in the field of economics present new empirical research that suggests that each side of the debate has something to offer the other. Free enterprise and well-developed financial systems are proven to produce growth in those countries that have them. But research also suggests that in some other capitalist countries, arrangements truly do concentrate corporate ownership in the hands of a few wealthy families. A History of Corporate Governance around the World provides historical studies of the patterns of corporate governance in several countries-including the large industrial economies of Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States; larger developing economies like China and India; and alternative models like those of the Netherlands and Sweden.

Author Biography

Randall K. Morck is the Stephen A. Jarislowsky Distinguished Chair in Finance at the University of Alberta and a research associate of the National Bureau of Economic Research. He is the editor of Concentrated Corporate Ownership, also published by the University of Chicago Press.

Table of Contents

Preface	xi
The Global History of Corporate Governance: An Introduction	1	(64)
Randall K. Morck
Lloyd Steier
The Rise and Fall of the Widely Held Firm: A History of Corporate Ownership in Canada
Randall K. Morck
Michael Percy
Gloria Y. Tian
Bernard Yeung
Comment	65	(84)
Jordan Siegel
The History of Corporate Ownership in China: State Patronage, Company Legislation, and the Issue of Control
William Goetzmann
Elisabeth Koll
Comment	149	(36)
Dwight H. Perkins
Corporate Ownership in France: The Importance of History
Antoin E. Murphy
Comment	185	(38)
Daniel Raff
The History of Corporate Ownership and Control in Germany
Caroline Fohlin
Comment	223	(60)
Alexander Dyck
The Evolution of Concentrated Ownership in India: Broad Patterns and a History of the Indian Software Industry
Tarun Khanna
Krishna G. Palepu
Comment	283	(42)
Ashoka Mody
The History of Corporate Ownership in Italy
Alexander Aganin
Paolo Volpin
Comment	325	(42)
Daniel Wolfenzon
A Frog in a Well Knows Nothing of the Ocean: A History of Corporate Ownership in Japan
Randall K. Morck
Masao Nakamura
Comment	367	(100)
Sheldon Garon
Financing and Control in The Netherlands: A Historical Perspective
Abe de Jong
Ailsa Roell
Comment	467	(50)
Peter Hogfeldt
The History and Politics of Corporate Ownership in Sweden
Peter Hogfeldt
Comment	517	(64)
Ailsa Roell
Spending Less Time with the Family: The Decline of Family Ownership in the United Kingdom
Julian Franks
Colin Mayer
Stefano Rossi
Comment	581	(32)
Barry Eichengreen
Why Has There Been So Little Block Holding in America?
Marco Becht
J. Bradford DeLong
Comment	613	(54)
Richard Sylla
Contributors	667	(4)
Author Index	671	(8)
Subject Index	679