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Issues in corporate governance

  • Christoph Walkner
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    The objective of this paper is to review issues and problems arising in the area of corporate governance from a broader economic perspective at a time when a series of major corporate accounting fraud scandals has renewed interest in the subject. The paper highlights the economic significance of corporate governance forresource allocation, investment decisions, and financial market development.

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    Paper provided by Directorate General Economic and Financial Affairs (DG ECFIN), European Commission in its series European Economy - Economic Papers with number 200.

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    Length: 43 pages
    Date of creation: Mar 2004
    Date of revision:
    Handle: RePEc:euf:ecopap:0200
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    1. Joe Peek & Eric S. Rosengren, 2005. "Unnatural Selection: Perverse Incentives and the Misallocation of Credit in Japan," American Economic Review, American Economic Association, vol. 95(4), pages 1144-1166, September.
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    5. Singh, Ajit & Singh, Alaka & Weisse, Bruce, 2002. "Corporate governance, competition, the new international financial architecture and large corporations in emerging markets," MPRA Paper 53665, University Library of Munich, Germany.
    6. Peter Murrell, 1995. "The Transition According to Cambridge, Mass," Journal of Economic Literature, American Economic Association, vol. 33(1), pages 164-178, March.
    7. Patrick Bolton & Marco Becht & Alisa Röell, 2002. "Corporate Governance and Control," NBER Working Papers 9371, National Bureau of Economic Research, Inc.
    8. Shang-Jin Wei & Gaston Gelos, 2002. "Transparency and International Investor Behavior," IMF Working Papers 02/174, International Monetary Fund.
    9. Shang-Jin Wei, 2000. "Negative Alchemy?: Corruption and Composition of Capital Flows," OECD Development Centre Working Papers 165, OECD Publishing.
    10. Rafael La Porta & Florencio Lopez-de-Silanes & Andrei Shleifer & Robert Vishny, 1999. "Investor Protection and Corporate Valuation," Harvard Institute of Economic Research Working Papers 1882, Harvard - Institute of Economic Research.
    11. Rodolfo Apreda, 2002. "How corporate governance and globalization can run afoul of the law and good practices in business: The Enron's disgraceful affair," CEMA Working Papers: Serie Documentos de Trabajo. 225, Universidad del CEMA.
    12. João A. C. Santos, 1998. "Commercial banks in the securities business: A review," BIS Working Papers 56, Bank for International Settlements.
    13. Zingales, Luigi, 1998. "Corporate Governance," CEPR Discussion Papers 1806, C.E.P.R. Discussion Papers.
    14. Hervé Stolowy & Gaetan Breton, 2000. "A Framework for the Classification of Accounts Manipulations," Working Papers hal-00597249, HAL.
    15. La Porta, Rafael & Lopez-de-Silanes, Florencio & Schleifer, Andrei & Vishny, Robert, 2001. "Investor Protection and Corporate Governance," Working Paper Series rwp01-017, Harvard University, John F. Kennedy School of Government.
    16. James T. Moser & Subu Venkataraman, 1996. "The economics of disclosure requirements for derivatives," Chicago Fed Letter, Federal Reserve Bank of Chicago, issue Oct.
    17. Eichengreen, Barry, 1998. "International Economic Policy in the Wake of the Asian Crisis," Center for International and Development Economics Research, Working Paper Series qt78c3z577, Center for International and Development Economics Research, Institute for Business and Economic Research, UC Berkeley.
    18. Nenova, Tatiana, 2003. "The value of corporate voting rights and control: A cross-country analysis," Journal of Financial Economics, Elsevier, vol. 68(3), pages 325-351, June.
    19. Andrei Shleifer & Robert W. Vishny, 1996. "A Survey of Corporate Governance," NBER Working Papers 5554, National Bureau of Economic Research, Inc.
    20. William R. Emmons & Frank A. Schmid, 2001. "Corporate governance, entrenched labor, and economic growth," Working Papers 2001-023, Federal Reserve Bank of St. Louis.
    21. International Monetary Fund, 2000. "Institutions Matter in Transition, But so do Policies," IMF Working Papers 00/70, International Monetary Fund.
    22. Rajan, Raghuram G. & Zingales, Luigi, 2003. "The great reversals: the politics of financial development in the twentieth century," Journal of Financial Economics, Elsevier, vol. 69(1), pages 5-50, July.
    23. Denis, Cecile & Huizinga, Harry, 2004. "Are Foreign Ownership and Good Institutions Substitutes? The Case of Non-Traded Equity," CEPR Discussion Papers 4339, C.E.P.R. Discussion Papers.
    24. Bertrand, Marianne & Mullainathan, Sendhil, 2003. "Enjoying the Quiet Life? Corporate Governance and Managerial Preferences," Scholarly Articles 3429713, Harvard University Department of Economics.
    25. Klaus Gugler & Dennis C. Mueller & B. Burcin Yurtoglu, 2001. "Corporate Governance, Capital MarketDiscipline and the Returns on Investment," CIG Working Papers FS IV 01-25, Wissenschaftszentrum Berlin (WZB), Research Unit: Competition and Innovation (CIG).
    26. Bebchuk, Lucian A. & Fried, Jesse M., 2003. "Executive Compensation as an Agency Problem," Berkeley Olin Program in Law & Economics, Working Paper Series qt81q3136r, Berkeley Olin Program in Law & Economics.
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