Corporate Governance: What can we Learn from Public Governance?
AbstractIn view of recent corporate scandals, it is argued that corporate governance can learn from public governance. Institutions devised to control and discipline the behavior of executives in the political sphere can give new insights into how to improve the governance of firms. Proposals in four specific areas are discussed: manager compensation, the division of power within firms, rules of succession in top positions, and institutionalized competition in core areas of the corporation.
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Bibliographic InfoPaper provided by Institute for Empirical Research in Economics - University of Zurich in its series IEW - Working Papers with number 166.
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Corporate governance; public governance; agency theory; intrinsic motivation; democracy; public administration;
Find related papers by JEL classification:
- G3 - Financial Economics - - Corporate Finance and Governance
- H1 - Public Economics - - Structure and Scope of Government
- M2 - Business Administration and Business Economics; Marketing; Accounting - - Business Economics
This paper has been announced in the following NEP Reports:
- NEP-CBE-2003-08-24 (Cognitive & Behavioural Economics)
- NEP-CFN-2003-08-24 (Corporate Finance)
- NEP-PBE-2003-08-24 (Public Economics)
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