Global Corporate Governance
Effective corporate governance, or the set of controls and incentives that drive top
management, originates both outside and inside the firm and assures investors who hope to
commit their capital. Essential when buying stocks in one's own country, effective
corporate governance is even more important abroad, where information can be less reliable
and investor influence (or protection) more limited.
In this collection of articles from the Journal of Applied Corporate Finance,
more than thirty leading scholars and practitioners discuss the possibilities and
limitations of global corporate finance and governance systems. Essays discuss the
political roots of American corporate finance; the structural and financial variations
between international corporations; control premiums and the effectiveness of corporate
governance systems; debt, folklore, and cross-country differences in financial structures;
the driving forces behind the East Asian Financial Crisis of 1997; corporate ownership and
control in India, Germany, France, and the United Kingdom; the financial and economic
lessons of Italy's privatization program; changes in Korean corporate governance;
sovereign wealth funds; and the new organization of Canadian business trusts. A special
roundtable discussion addresses shareholder activism in the U.K.
392 pages, Paperback