We survey two generations of research on corporate governance systems around the world,
concentrating on countries other than the US The first generation of international corporate …

In this article, we examine the state of the art in comparative and international corporate
governance by identifying the key research questions, main concepts, and paradigms of …

Corporate governance is concerned with the resolution of collective action problems among
dispersed investors and the reconciliation of conflicts of interest between various corporate …

Modern societies have in recent decades seen a destabilization of the traditional governing
mechanisms and the advancement of new arrangements of governance. Con spicuously …

This paper investigates the relationship between dividends and the ownership and control
structure of the firm. For a panel of Austrian firms over the 1991/99 period, we find that state …

This paper analyzes the economic rationale for board regulation in place and for introducing
new regulation in the future. We relate the value of the firm to the use of employee directors …

Most of the existing evidence on the effectiveness of large shareholders in corporate
governance has been restricted to a handful of developed countries, notably the UK, US …

Although there has been an intensive debate on the relative merits of different systems of
corporate governance, empirical evidence on the link between corporate governance and …

Purpose–The effect of corporate governance on firm performance has long been of great
interest to financiers, economists, behavioural scientists, legal practitioners and business …

Sea-Jin Chang argues that the Korean financial crisis of 1997 was due to the inertia of both
the business groups known as chaebols and the Korean government which prevented …