Corporate Governance Regimes: Convergence and Diversity by Luc Renneboog (Englis

Description: Corporate Governance Regimes by Luc Renneboog, Piet Moerland, Theo Raaijmakers, Joseph A. McCahery This book seeks to examine the relationship between corporate law rules and economic performance. Contributors examine the design of the two main systems of corporate governance to ascertain which bundle of rules is likely to support the emergence of a strong system of governance. FORMAT Hardcover LANGUAGE English CONDITION Brand New Publisher Description Corporate Governance Regimes addresses corporate laws leading question: whether one or another corporate law regime possesses relative competitive advantage. To this end, the editors have brought together an international team of scholars in economics and law to critically assess the new theories of ownership and control which seek to explain the important efficiency advantages of dispersed ownership and the inevitable limitations of control-orientedsystems of governance. Contributors describe and analyse the relative strength of the forces that shape the evolution of corporate law rules and practice. They also raise the issue of whethernations undertaking reforms should develop corporate governance policies that borrow from other systems best practices, or pursue a course of internally designed corporate governance reforms. And, building on new theories of law and finance, they examine the incentives for introducing meaningful corporate governance reforms that disrupt or destabilize Europes blockholding regimes.The collection is divided into seven parts. Part One provides not only a means for assessingthe key features of market- and control-based systems of governance but a standpoint for determining whether national governance systems are likely to converge on a single, optimal system ofgovernance. Part Two introduces the reader to the building blocks of European corporate governance and the securities law harmonization program. Part Three examines the complex ownership and control structures that are found in Western Europe, investigating the consequences of large shareholdings for minority investors. Part Four offers law and finance analyses of the relationship between legal and financial systems and corporate performance. Part Five looks at the economic perspective on theoperation of the market for corporate control and the key legal rules and institutions of the bankruptcy and insolvency regimes in the USA and Britain. Part Six is devoted to exploring the economiceffect of institutional shareholder participation in corporate governance in the USA, Britain, and continental Europe. The final section, Part Seven, evaluates empirically the executive compensation arrangements in the USA, Britain, and continental Europe. The contributions supply a pool of current research on the motivational effect of performance-related remuneration and the substantial increase in top executive remuneration in the USA. Author Biography Joseph A. McCahery is Professor of International Business Law at Tilburg University Faculty of Law and the Center for Company Law. He holds a visiting appointment at Leiden University Faculty of Law. Piet Moerland is Professor of Corporate Governance at Tilburg University where he teaches courses on mergers and acquisitions and corporate governance. M.J.G.C. (Theo) Raaijmakers is Professor of Corporate Law at Tilburg University Faculty of Law. Luc Renneboog isAssociate Professor at the Department of Finance of Tilburg University and research fellow at the Center for Economic Research (Tilburg). Table of Contents 1: J. McCahery and L. Renneboog: IntroductionI. Legal Convergence of Corporate Governance Regimes2: W. Bratton and J. McCahery: The Case Against Global Cross Reference3: H. Hansmann and R. Kraakman: Toward a Single Model of Corporate Law?4: J. Coffee: Convergence and its Critics: What are the Preconditions to the Separation of Ownership and Control?5: M. Roe: Political Preconditions to Separating Ownership from Control6: B. Cheffins: Putting Britain on the Roe Map: The Emergence of the Berle-Means Corporation in the United KingdomII. Harmonization and Diversity of Governance Principles in Europe7: K. Hopt: Common Principles of Corporate Governance in Europe?8: T. Raaijmakers: The 13th Takeover Directive and the Williams Act9: E. Wymeersch: Convergence or Divergence in Corporate Governance Patterns in Western Europe?III. Concentration of Ownership and Control in Europe10: M. Goergen and L. Renneboog: Prediction of Control Concentration in German and UK Initial Public Offerings11: E. Boehmer: Who Controls German Corporations?12: P. Moerland: Complete Separation of Ownership and Control: the Structure Regime and Other Defensive Mechanisms in the Netherlands13: I.Dherment and L. Renneboog: Share Price Reactions to CEO Resignations and Large Shareholder Monitoring in Listed French CompaniesIV. Economic Performance and Governance Structures14: W. Carlin and C. Mayer: How Do Financial Systems Affect Economic Performance?15: D. Lombardo and M. Pagano: Law and Equity Markets: A Simple Model16: E. Perrotti and E. L. von Thadden: Investor Dominance and Strategic Transparency: on the Role of Corporate Governance for Product and Capital Market Competition17: M. Maher and T. Andersson: Corporate Governance: Effects on Firm Performance and Economic GrowthV. The Value of Corporate Control and Reorganization of the Firm18: C. Robinson, J. Rumsey, and A. White: The Value of a Vote in the Market for Corporate Control: Canadian Evidence19: J. Franks, C. Mayer, and L. Renneboog: Managerial Disciplining and the Market for (Partial) Corporate Control in the UK20: J. Franks and W. Torous: A Comparison of English and American Bankruptcy Procedures21: U. Hege and P. Mella-Barral: Reorganization Law and Dilution Threats in Different Financial Systems22: L. Bebchuk: Using Options to Divide Value in Corporate BankruptcyVI. The Role of Institutional Shareholders in Corporate Governance23: R. Romano: Less is More; Making Shareholder Activism a Valued Mechanism of Corporate Governance24: G. Stapledon and J. Bates: Unpacking the Interest-holders in a Share: Making Voting Easier for Institutional Shareholders25: M. Faccio and M. Lasfer: Institutional Shareholders and Corporate Governance: the Case of UK Pension FundsVII. Executive Compensation26: M. Conyon and K. Murphy: Stock-Based Executive Compensation27: R. Crespi, C. Gispert, and L. Renneboog: Cash-Based Executive Compensation in Spain and the UK28: P. Duffhues, R. Kabir, G. Mertens, and P. Roosenboom: Employee Stock Option Grants and Firm Performance in the Netherlands Review `With globalization and greater financial integration, corporate governance reform has become an important policy priority. Some of the greatest authorities in corporate governance are gathered here to discuss the policy issues of the day . . . this volume is fascinating reading and highly informative. I recommend it to anyone interested in these important policy issues.Patrick Bolton, Princeton University`The field of comparative corporate governance has made great strides in the last several years. This book represents a fascinating collection of state-of-the-art articles beautifully illustrating the great progress of the field.Andrei Shleifer, Harvard University`Corporate Governance Regimes provides an illuminating acute analysis of the central problems of comparative corporate governance and makes a vital contribution to the key policy debates on the direction of corporate governance reform.Lawrence E. Mitchell, George Washington University Law School`This comprehensive volume studies the development and consequences of corporate governance mechanisms in modern economies. It will be of great value to economists, lawyers, policy makers, and all who are concerned with economic development and the distribution of power within modern societies.Michael Brennan, University of California at Los Angeles, UCLA Long Description Corporate Governance Regimes addresses corporate laws leading question: whether one or another corporate law regime possesses relative competitive advantage. To this end, the editors have brought together an international team of scholars in economics and law to critically assess the new theories of ownership and control which seek to explain the important efficiency advantages of dispersed ownership and the inevitable limitations of control-orientedsystems of governance. Contributors describe and analyse the relative strength of the forces that shape the evolution of corporate law rules and practice. They also raise the issue of whether nations undertaking reforms should develop corporate governance policies that borrow from othersystems best practices, or pursue a course of internally designed corporate governance reforms. And, building on new theories of law and finance, they examine the incentives for introducing meaningful corporate governance reforms that disrupt or destabilize Europes blockholding regimes.The collection is divided into seven parts. Part One provides not only a means for assessing the key features of market- and control-based systems of governance but a standpoint fordetermining whether national governance systems are likely to converge on a single, optimal system of governance. Part Two introduces the reader to the building blocks of European corporate governance and the securities law harmonization program. Part Three examines the complex ownership and controlstructures that are found in Western Europe, investigating the consequences of large shareholdings for minority investors. Part Four offers law and finance analyses of the relationship between legal and financial systems and corporate performance. Part Five looks at the economic perspective on the operation of the market for corporate control and the key legal rules and institutions of the bankruptcy and insolvency regimes in the USA and Britain. Part Six is devoted to exploring the economiceffect of institutional shareholder participation in corporate governance in the USA, Britain, and continental Europe. The final section, Part Seven, evaluates empirically the executive compensation arrangements in the USA, Britain, and continental Europe. The contributions supply a pool of currentresearch on the motivational effect of performance-related remuneration and the substantial increase in top executive remuneration in the USA. Review Text `With globalization and greater financial integration, corporate governance reform has become an important policy priority. Some of the greatest authorities in corporate governance are gathered here to discuss the policy issues of the day . . . this volume is fascinating reading and highly informative. I recommend it to anyone interested in these important policy issues.Patrick Bolton, Princeton University`The field of comparative corporate governance has made great strides in the last several years. This book represents a fascinating collection of state-of-the-art articles beautifully illustrating the great progress of the field.Andrei Shleifer, Harvard University`Corporate Governance Regimes provides an illuminating acute analysis of the central problems of comparative corporate governance and makes a vital contribution to the key policy debates on the direction of corporate governance reform.Lawrence E. Mitchell, George Washington University Law School`This comprehensive volume studies the development and consequences of corporate governance mechanisms in modern economies. It will be of great value to economists, lawyers, policy makers, and all who are concerned with economic development and the distribution of power within modern societies.Michael Brennan, University of California at Los Angeles, UCLA Review Quote With globalization and greater financial integration, corporate governance reform has become an important policy priority. Some of the greatest authorities in corporate governance are gathered here to discuss the policy issues of the day . . . this volume is fascinating reading and highlyinformative. I recommend it to anyone interested in these important policy issues.Patrick Bolton, Princeton University Promotional "Headline" 1. J. McCahery and L. Renneboog: Introduction I. Legal Convergence of Corporate Governance Regimes2. W. Bratton and J. McCahery: The Case Against Global Cross Reference 3. H. Hansmann and R. Kraakman: Toward a Single Model of Corporate Law? 4. J. Coffee: Convergence and its Critics: What are the Preconditions to the Separation of Ownership and Control? 5. M. Roe: Political Preconditions to Separating Ownership from Control 6. B. Cheffins: Putting Britain on the Roe Map: The Emergence of the Berle-Means Corporation in the United Kingdom II. Harmonization and Diversity of Governance Principles in Europe7. K. Hopt: Common Principles of Corporate Governance in Europe? 8. T. Raaijmakers: The 13th Takeover Directive and the Williams Act 9. E. Wymeersch: Convergence or Divergence in Corporate Governance Patterns in Western Europe? III. Concentration of Ownership and Control in Europe10. M. Goergen and L. Renneboog: Prediction of Control Concentration in German and UK Initial Public Offerings 11. E. Boehmer: Who Controls German Corporations? 12. P. Moerland: Complete Separation of Ownership and Control: the Structure Regime and Other Defensive Mechanisms in the Netherlands 13. I.Dherment and L. Renneboog: Share Price Reactions to CEO Resignations and Large Shareholder Monitoring in Listed French Companies IV. Economic Performance and Governance Structures14. W. Carlin and C. Mayer: How Do Financial Systems Affect Economic Performance? 15. D. Lombardo and M. Pagano: Law and Equity Markets: A Simple Model 16. E. Perrotti and E. L. von Thadden: Investor Dominance and Strategic Transparency: on the Role of Corporate Governance for Product and Capital Market Competition 17. M. Maher and T. Andersson: Corporate Governance: Effects on Firm Performance and Economic Growth V. The Value of Corporate Control and Reorganization of the Firm18. C. Robinson, J. Rumsey, and A. White: The Value of a Vote in the Market for Corporate Control: Canadian Evidence 19. J. Franks, C. Mayer, and L. Renneboog: Managerial Disciplining and the Market for (Partial) Corporate Control in the UK 20. J. Franks and W. Torous: A Comparison of English and American Bankruptcy Procedures 21. U. Hege and P. Mella-Barral: Reorganization Law and Dilution Threats in Different Financial Systems 22. L. Bebchuk: Using Options to Divide Value in Corporate Bankruptcy VI. The Role of Institutional Shareholders in Corporate Governance23. R. Romano: Less is More; Making Shareholder Activism a Valued Mechanism of Corporate Governance 24. G. Stapledon and J. Bates: Unpacking the Interest-holders in a Share: Making Voting Easier for Institutional Shareholders 25. M. Faccio and M. Lasfer: Institutional Shareholders and Corporate Governance: the Case of UK Pension Funds VII. Executive Compensation26. M. Conyon and K. Murphy: Stock-Based Executive Compensation 27. R. Crespi, C. Gispert, and L. Renneboog: Cash-Based Executive Compensation in Spain and the UK 28. P. Duffhues, R. Kabir, G. Mertens, and P. Roosenboom: Employee Stock Option Grants and Firm Performance in the Netherlands Feature Up-to-date analyses by top-notch authors of a range of key policy topics in corporate governance Details ISBN0199247870 Language English ISBN-10 0199247870 ISBN-13 9780199247875 Media Book Format Hardcover Year 2002 Imprint Oxford University Press Subtitle Convergence and Diversity Place of Publication Oxford Country of Publication United Kingdom Edited by Joseph A. McCahery Author Joseph A. McCahery Short Title CORPORATE GOVERNANCE REGIMES Pages 718 DOI 10.1604/9780199247875 UK Release Date 2002-09-26 AU Release Date 2002-09-26 NZ Release Date 2002-09-26 Illustrations numerous figures and tables Publisher Oxford University Press Publication Date 2002-09-26 DEWEY 658.1 Audience Professional & Vocational We've got this At The Nile, if you're looking for it, we've got it. With fast shipping, low prices, friendly service and well over a million items - you're bound to find what you want, at a price you'll love! TheNile_Item_ID:97828372;

Price: 519.15 AUD

Location: Melbourne

End Time: 2025-02-05T02:17:22.000Z

Shipping Cost: 17.84 AUD