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Vol 23 No 5 May/June 2018

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Convergence and Persistence in Corporate Governance

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Edited by: Jeffrey N. Gordon, Mark J. Roe

ISBN13: 9780521829113
ISBN: 0521829119
Published: April 2004
Publisher: Cambridge University Press
Country of Publication: UK
Format: Hardback
Price: £103.00

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.

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List of contributors
Introduction Jeffrey N. Gordon and Mark J. Roe
Part I. System Issues: 1. The end of history for corporate law Henry Hansmann and Reinier Kraakman
2. A theory of path dependence in corporate ownership and governance Lucian A. Bebchuk and Mark J. Roe
3. Path dependence, corporate governance and complementarity Reinhard H. Schmidt and Gerald Spindler
4. Convergence of form or function Ronald Gilson
Part II. Government Players: 5. The international relations wedge in corporate convergence Jeffrey N. Gordon
6. Property rights in firms Curtis Milhaupt
7. Modern politics and ownership separation Mark J. Roe
Part III. Specific Institutions: 8. Norms and corporate convergence David Charny
9. Ungoverned production Charles Sabel
10. Substantive law and its enforcement Gerard Hertig
11. Cross-holding in the Japanese keiretsu J. Mark Ramseyer