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Corporate Governance and Corporate Law Structure in European Countries

Author

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  • Mertzanis, V. H.

Abstract

The paper describes the different broad systems of corporate governance existing in Continental Europe (the insider system) and in the UK (and the US, the outsider system), identifies certain differences in the concentration and nature of corporate ownership between both systems and comments on the consequences that these discrepancies have in terms of agency costs and the development of mechanisms to separate ownership (cash flow rights) and control (voting rights) both at the level of the firm and through corporate law. Then, a reference is made of the important question of whether corporate governance structures in the different European countries will competitively converge with one another. To than end, proper amendments in corporate structures, most notably corporate law reform, must be initiated.

Suggested Citation

  • Mertzanis, V. H., 2000. "Corporate Governance and Corporate Law Structure in European Countries," European Research Studies Journal, European Research Studies Journal, vol. 0(1-2), pages 29-46, January -.
    • Handle: RePEc:ers:journl:v:iii:y:2000:i:1-2:p:29-46
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    File URL: http://www.ersj.eu/repec/ers/papers/00_12-p3.pdf
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    Cited by:

    1. Vahe Lskavyan & Mariana Spatareanu, 2006. "Ownership concentration, market monitoring and performance: Evidence from the UK, the Czech Republic and Poland," Journal of Applied Economics, Universidad del CEMA, vol. 9, pages 91-104, May.

    More about this item

    Keywords

    corporate governance; corporate law; Europe;
    All these keywords.

    JEL classification:

    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill

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