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Foundations of Corporate Governance

Author

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  • Volonté, Christophe

    () (University of Basel)

Abstract

This paper outlines the foundations of corporate governance. The discussion includes a review on the modern corporation, transaction costs theory, agency costs theory, legal investor protection, investor protection by corporate governance and its various mechanisms, as well as an overview of the determinants of corporate governance.

Suggested Citation

  • Volonté, Christophe, 2012. "Foundations of Corporate Governance," Working papers 2012/05, Faculty of Business and Economics - University of Basel.
  • Handle: RePEc:bsl:wpaper:2012/05
    as

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    File URL: https://edoc.unibas.ch/61213/1/20180305170717_5a9d6b3587d09.pdf
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    References listed on IDEAS

    as
    1. Jensen, Michael C, 1986. "Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers," American Economic Review, American Economic Association, vol. 76(2), pages 323-329, May.
    2. Shleifer, Andrei & Vishny, Robert W., 1989. "Management entrenchment : The case of manager-specific investments," Journal of Financial Economics, Elsevier, vol. 25(1), pages 123-139, November.
    3. Kraakman, Reinier & Armour, John & Davies, Paul & Enriques, Luca & Hansmann, Henry B. & Hertig, Gerard & Hopt, Klaus J. & Kanda, Hideki & Rock, Edward B., 2009. "The Anatomy of Corporate Law: A Comparative and Functional Approach," OUP Catalogue, Oxford University Press, edition 2, number 9780199565849.
    4. Fama, Eugene F, 1980. "Agency Problems and the Theory of the Firm," Journal of Political Economy, University of Chicago Press, vol. 88(2), pages 288-307, April.
    5. Williamson, Oliver E, 1985. "Assessing Contract," Journal of Law, Economics, and Organization, Oxford University Press, vol. 1(1), pages 177-208, Spring.
    6. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 110-110.
    7. Kenneth M. Lehn & Sukesh Patro & Mengxin Zhao, 2009. "Determinants of the Size and Composition of US Corporate Boards: 1935-2000," Financial Management, Financial Management Association International, vol. 38(4), pages 747-780, December.
    8. repec:hrv:faseco:30747191 is not listed on IDEAS
    9. Lex Donaldson & James H. Davis, 1991. "Stewardship Theory or Agency Theory: CEO Governance and Shareholder Returns," Australian Journal of Management, Australian School of Business, vol. 16(1), pages 49-64, June.
    10. Rafael La porta & Florencio Lopez-De-Silanes & Andrei Shleifer & Robert Vishny, 2002. "Investor Protection and Corporate Valuation," Journal of Finance, American Finance Association, vol. 57(3), pages 1147-1170, June.
    11. Henry G. Manne, 1965. "Mergers and the Market for Corporate Control," Journal of Political Economy, University of Chicago Press, vol. 73, pages 351-351.
    Full references (including those not matched with items on IDEAS)

    More about this item

    Keywords

    Agency theory; Legal protection; Corporate goverance; Board of directors; Ownership;

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
    • K00 - Law and Economics - - General - - - General (including Data Sources and Description)

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