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Regulation and governance of the firm

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Author Info

  • Michael Dietrich

    (University of Sheffield - University of Sheffield)

  • Jackie Krafft

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis [UNS] - CNRS : UMR6227)

  • Jacques-Laurent Ravix

    (GREDEG - Groupe de Recherche en Droit, Economie et Gestion - Université Nice Sophia Antipolis [UNS] - CNRS : UMR6227)

Abstract

Uniformity in modes of regulation and governance is now widely debated. The predominant thesis is that there should be a superior model promoting optimality by disclosure of information and transparency. But today, this thesis is greatly contested, since the adoption of a unique and universal set of rules and arrangements neglects the diversity of national experiences and the heterogeneity of firms, institutions and social norms. Moreover, evidence shows that this unique model of regulation and governance tends to generate major failures and turbulences. What emerges as a result is that different types of rules and norms govern entrepreneurial as well as public firms in different industries and stages of their development. The special issue following this introduction aims at discussing this timely debate on uniformity versus variety of modes of regulation and governance, and especially privileges analytical and empirical contributions covering the following dimensions of the debate: new approaches on regulation and governance in the domain of economics of the firm, business strategy, law and economics; new evidence on the evolution of regulation and governance at the firm, industry, and national levels.

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Bibliographic Info

Paper provided by HAL in its series Post-Print with number hal-00203479.

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Date of creation: 2008
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Publication status: Published, International Review of Applied Economics, 2008, 22, 4, 397-406
Handle: RePEc:hal:journl:hal-00203479

Note: View the original document on HAL open archive server: http://hal.archives-ouvertes.fr/hal-00203479
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References

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  1. Jean-Jacques Laffont & David Martimort, 1997. "The Firm as a Multicontract Organization," Journal of Economics & Management Strategy, Wiley Blackwell, vol. 6(2), pages 201-234, 06.
  2. Shleifer, Andrei & Vishny, Robert W, 1997. " A Survey of Corporate Governance," Journal of Finance, American Finance Association, vol. 52(2), pages 737-83, June.
  3. Raghuram G. Rajan & Luigi Zingales, 2001. "The Influence of the Financial Revolution on the Nature of Firms," American Economic Review, American Economic Association, vol. 91(2), pages 206-211, May.
  4. J. Krafft & J. -L. Ravix, 2008. "Corporate Governance And The Governance Of Knowledge: Rethinking The Relationship In Terms Of Corporate Coherence," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 17(1-2), pages 79-95.
  5. Marco Becht & Colin Mayer & Tim Jenkinson, 2005. "Corporate governance: an assessment," ULB Institutional Repository 2013/13308, ULB -- Universite Libre de Bruxelles.
  6. Jackie Krafft & Jacques-Laurent Ravix, 2005. "The governance of innovative firms: An evolutionary perspective," Economics of Innovation and New Technology, Taylor & Francis Journals, vol. 14(3), pages 125-147.
  7. Martin Fransman, 2004. "The telecoms boom and bust 1996-2003 and the role of financial markets," Journal of Evolutionary Economics, Springer, vol. 14(4), pages 369-406, October.
  8. Franklin Allen, 2005. "Corporate Governance in Emerging Economies," Oxford Review of Economic Policy, Oxford University Press, vol. 21(2), pages 164-177, Summer.
  9. Nicolai J Foss & Jens Fr�slev Christensen, 2001. "A market-process approach to corporate coherence," Managerial and Decision Economics, John Wiley & Sons, Ltd., vol. 22(4-5), pages 213-226.
  10. Kahneman, Daniel & Tversky, Amos, 1979. "Prospect Theory: An Analysis of Decision under Risk," Econometrica, Econometric Society, vol. 47(2), pages 263-91, March.
  11. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-29, May.
  12. Hart, Oliver, 1995. "Corporate Governance: Some Theory and Implications," Economic Journal, Royal Economic Society, vol. 105(430), pages 678-89, May.
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Cited by:
  1. Jackie Krafft & Jacques-Laurent Ravix, 2008. "Corporate Governance in Advanced Economies: Lessons in a Post Financial Crash Era.. Introduction to the Special Issue," Recherches économiques de Louvain, De Boeck Université, vol. 74(4), pages 419-424.

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