Irresistible Forces and Political Obstacles: Securities Litigation Reform and the Structural Regulation of Corporate Governance

Transnational Forces and Corporate Governance Regulation in Postsocialist Europe

This dissertation provides an analysis of the influence of transnational forces on the mode and content of corporate governance regulation in East Central Europe since the collapse of state socialism. From the early 1990s onwards countries in this region have gone through a process of economic restructuring aimed at the establishment of liberal market economies. Transnational actors such as the...

Pension Reform, Savings Behavior and Corporate Governance

France, Germany and Italy, to take the three largest economies in continental Europe, have large and ailing pay-as-you-go public pension systems, very thin capital markets, and low capital performance. Taking Germany as an example, we show that these three issues are closely linked. Specifically, we argue that pension reform, via a change in portfolio composition of households and a strengtheni...

The Reform of (Corporate) Governance in Japan

'Quack Corporate Governance' as Traditional Chinese Medicine â•fi The Securities Regulation Cannibalization of China's Corporate Law and a State Regulator's Battle Against Party State Political Economic Power

From the start of the People’s Republic of China’s (PRC) “corporatization” project in the late 1980s, a Chinese corporate governance regime subject to increasingly enabling legal norms has been determined by mandatory regulations imposed by the PRC securities regulator, the China Securities Regulatory Commission (CSRC). Indeed, the Chinese corporate law system has been cannibalized by all-encom...

The Regulation of Corporate Governance

This paper investigates the market reaction to recent legislative and regulatory actions pertaining to corporate governance. The managerial power view of governance suggests that executive pay, the existing process of proxy access, and various governance provisions (e.g., staggered boards and CEO-chairman duality) are associated with managerial rent extraction. This perspective predicts that br...