Governance and Ownership: Theoretical Framework of Research
This article reviews practical and theoretical aspects of ownership research and corporate governance in a historical view. Whom and what is a business for? The answer once seemed clear, but no longer. Jyrki Veranen (1996) argues that the governing of the company should be based on a model that allows the owners to control and support the management. Martin Hilb (2006) argues that ownership has been replaced by investment, and a companyÃs assets are increasingly found in its people. Ownership history and knowledge of relevant contextual factors help to frame the Ã¬rightÃ® questions to ask in our research efforts. An historical summary of ownership research is given. The term Ã¬corporate governanceÃ® has come to mean many things; it involves various problems of asymmetric information and incomplete contracts that generate a need for public policy responses to mitigate market failures and ensuring that companies move towards Ã¬goodÃ® corporate governance. It seems that all research on corporate governance is actually research on ownership. Ownership research needs delicate and sensitive information. This author is further developing a typology of capital company owners in Estonia, using cluster analysis.
|Date of creation:||2008|
|Date of revision:|
|Publication status:||Published in Working Papers in Economics.School of Economics and Business Administration,Tallinn University of Technology (TUTWPE), Pages 149-162|
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- Djankov, Simeon & Murrell, Peter, 2002.
"Enterprise Restructuring in Transition: A Quantitative Survey,"
CEPR Discussion Papers
3319, C.E.P.R. Discussion Papers.
- Simeon Djankov & Peter Murrell, 2002. "Enterprise Restructuring in Transition: A Quantitative Survey," Journal of Economic Literature, American Economic Association, vol. 40(3), pages 739-792, September.
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