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Corporate law and governance

Marco Becht; Patrick Bolton; Ailsa Röell

Title:
Corporate law and governance
Author(s):
Becht, Marco
Bolton, Patrick
Röell, Ailsa
Date:
Type:
Book chapters
Permanent URL:
Book/Journal Title:
Handbook of law and economics, vol. 2
Media Type:
application/pdf
Notes:
Chapter 12.
Publisher:
Elsevier
Abstract:
This chapter surveys the theoretical and empirical research on the main mechanisms of corporate law and governance, discusses the main legal and regulatory institutions in different countries, and examines the comparative governance literature. Corporate governance is concerned with the reconciliation of conflicts of interest between various corporate claimholders and the resolution of collective action problems among dispersed investors. A fundamental dilemma of corporate governance emerges from this overview: large shareholder intervention needs to be regulated to guarantee better small investor protection; but this may increase managerial discretion and scope for abuse. Alternative methods of limiting abuse have yet to be proven effective.
Publisher DOI:
http://dx.doi.org/10.1016/S1574-0730(07)02012-9
Item views:
175
Metadata:
text | xml

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