Contractual corporate governance

Corporate Governance

The module will examine the ongoing convergence of the corporate and market laws in relation to the universal issues in doing international business ethically. We will review the corporate governance mechanisms, the methods of expropriating investors and the current reforms of ensuring corporate control and diminishing of the level of corporate abuse. Topics covered include comparative corporat...

Global Corporate Governance Forum Corporate Governance and Development Stijn

This paper investigates the relationship between corporate governance and economic development and well-being. It finds that better corporate frameworks benefit firms through greater access to financing, lower cost of capital, better firm performance, and more favorable treatment of all stakeholders. Numerous studies agree that these channels operate not only at the level of the firms, but in s...

International Corporate Governance and Corporate Cash Holdings

Agency problems are an important determinant of corporate cash holdings. For a sample of more than 11,000 firms from 45 countries, we find that corporations in countries where shareholders rights are not well protected hold up to twice as much cash as corporations in countries with good shareholder protection. In addition, when shareholder protection is poor, factors that generally drive the ne...

Transparency and Corporate Governance∗

An objective of many proposed corporate governance reforms is increased transparency. This goal has been relatively uncontroversial, as most observers believe increased transparency to be unambiguously good. We argue that, from a corporate governance perspective, there are likely to be both costs and benefits to increased transparency, leading to an optimum level beyond which increasing transpa...

Aristotelian Corporate Governance