书目名称 | Global Differences in Corporate Governance Systems | 副标题 | Theory and Implicati | 编辑 | Markus Berndt | 视频video | | 丛书名称 | Ökonomische Analyse des Rechts | 图书封面 |  | 描述 | Over the past few decades two different corporate governance systems have evolved. Countries with an "insider system" exhibit a high level of ownership concentration, illiquid capital markets, and a high level of crossholdings. Countries with an "outsider system" are characterized by widely dispersed ownership, liquid stock markets, a low level of inter-corporate crossholdings, and an active market for corporate control...Markus Berndt explains the observable differences by elaborating on the influence of network effects on corporate governance systems. He develops a coherent theoretical framework pulling together existing agency theories and providing new theoretical foundations wherever there is a gap. The presented theory gives answers to the following questions: How does the insider system of corporate governance function despite its inefficiencies? Why do we not see any significant convergence of ownership structures and regulations? What are the legislative requirements in the different systems? How does globalization affect the effectiveness of the institutional arrangements? Which system should be chosen by developing countries?.. | 出版日期 | Book 2002 | 关键词 | AG; Corporate Governance; Corporate Law; Financial Systems; Institutional Economics; Law and Economics; Ne | 版次 | 1 | doi | https://doi.org/10.1007/978-3-322-81431-9 | isbn_softcover | 978-3-8244-7694-7 | isbn_ebook | 978-3-322-81431-9 | copyright | Deutscher Universitäts-Verlag GmbH, Wiesbaden 2002 |
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