Advanced Search
MyIDEAS: Login

The City and Corporate Performance: Condemned or Exonerated?

Contents:

Author Info

  • Mayer, Colin

Abstract

This paper summarizes the conventional wisdom concerning differences between financial systems. It argues that many of them do not stand up to close scrutiny. Instead, it suggests that the main differences concern the concentration and nature of ownership. Systems with high concentrations of ownership (frequently in the hands of families and other companies) may encourage more direct monitoring and control, greater stability in decision-taking, and greater commitment to other stakeholders than systems with more dispersed ownership. On the other hand, they are more subject to the private benefits of control and less flexible in responding to external factors. Different systems may, therefore, be suited to different types of corporate activity. Instead of seeking to impose uniform forms of corporate governance, the paper concludes that regulation should be permissive in allowing companies to choose their preferred forms of ownership and control. Copyright 1997 by Oxford University Press.

Download Info

To our knowledge, this item is not available for download. To find whether it is available, there are three options:
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.

Bibliographic Info

Article provided by Oxford University Press in its journal Cambridge Journal of Economics.

Volume (Year): 21 (1997)
Issue (Month): 2 (March)
Pages: 291-302

as in new window
Handle: RePEc:oup:cambje:v:21:y:1997:i:2:p:291-302

Contact details of provider:
Postal: Oxford University Press, Great Clarendon Street, Oxford OX2 6DP, UK
Fax: 01865 267 985
Email:
Web page: http://www.cje.oupjournals.org/

Order Information:
Web: http://www.oup.co.uk/journals

Related research

Keywords:

References

No references listed on IDEAS
You can help add them by filling out this form.

Citations

Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
as in new window

Cited by:
  1. Torben Pedersen & Steen Thomsen, 1999. "Economic and Systemic Explanations of Ownership Concentration among Europe's Largest Companies," International Journal of the Economics of Business, Taylor and Francis Journals, vol. 6(3), pages 367-381.
  2. Ariane Chapelle, 2004. "Block investments and the race for corporate control in Belgium," ULB Institutional Repository 2013/9943, ULB -- Universite Libre de Bruxelles.
  3. Howells, John, 2003. "Financial techniques, institutions and innovation," Working Papers 2003-3, University of Aarhus, Aarhus School of Business, Department of Management.

Lists

This item is not listed on Wikipedia, on a reading list or among the top items on IDEAS.

Statistics

Access and download statistics

Corrections

When requesting a correction, please mention this item's handle: RePEc:oup:cambje:v:21:y:1997:i:2:p:291-302

For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Oxford University Press) or (Christopher F. Baum).

If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

If references are entirely missing, you can add them using this form.

If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.

If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.

Please note that corrections may take a couple of weeks to filter through the various RePEc services.