Corporate Governance Lessons from Transition Economy Reforms
Merritt B. Fox, Michael Heller
Princeton University Press, 2006 - Law - 416 pages
This volume focuses, for the first time, on the reverse concern: what, if anything, do the reform experiences of transition countries teach about corporate governance theory more generally? To investigate this question, Merritt Fox and Michael Heller have assembled a stellar group of corporate governance theorists. The answers are startling.
The principal essays approach the problem from three complementary perspectives that form the organizing themes of the book. The first part refines core corporate theory terms. The second presents important empirical work that explores the channels through which "good corporate governance" may link to the real economy. The final part links corporate governance theory to practical reforms. After fifteen years of experience, practice can now inform theory.
Together, these essays present a comprehensive new view on a provocative theme. Written in an accessible style, they will be of interest to a broad range of scholars, commentators, and policymakers.
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What Is Good Corporate Governance?
The Elements of Good Corporate Governance Law
Patterns of Legal Change Shareholder and Creditor Rights in Transition Economies
The Common Law and Economic Growth Hayek Might Be Right
The Elements of Good Corporate Governance Owners and Managers
Russian Privatization and Corporate Governance What Went Wrong?
The Elements of Good Corporate Governance Stock Markets
Corporate Governance in Transitional Economies Lessons from the Prewar Japanese Cotton Textile Industry
Privatization and Corporate Governance The Lessons from Securities Market Failure
The Information Content of Stock Markets Why Do Emerging Markets Have Synchronous Stock Price Movements?
What Does Transition Contribute to Theory?
Conclusion The Unexplored Role of Initial Conditions
List of Contributors
Why Ownership Matters Entrepreneurship and the Restructuring of Enterprises in Central Europe