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Corporate Governance And The Public Interest

  • Branston, J. Robert

    (Universities of Birmingham, Ferrara and Wisconsin-Milwaukee)

  • Cowling, Keith

    (Department of Economics, University of Warwick)

  • Sugden, Roger

    (Universities of Birmingham, Ferrara and Wisconsin-Milwaukee)

Registered author(s):

    A theory of the firm based on strategic decision-making highlights governance as a central issue. Preferences vary over strategy but not all interests are currently being represented, resulting in a failure to govern in the public interest. As solutions, we consider the design of company law and also more immediate ways forward, focusing on regulation and democratically controlled public agencies, but stressing the fundamental significance of active, effective citizens. Throughout, the arguments are illustrated using examples from various countries and industries, including education, information technology, football and public utilities in Europe and the US.

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    File URL: http://www2.warwick.ac.uk/fac/soc/economics/research/workingpapers/2008/twerp626.pdf
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    Paper provided by University of Warwick, Department of Economics in its series The Warwick Economics Research Paper Series (TWERPS) with number 626.

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    Length: 31 pages
    Date of creation: 2002
    Date of revision:
    Handle: RePEc:wrk:warwec:626
    Contact details of provider: Postal: CV4 7AL COVENTRY
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    Web page: http://www2.warwick.ac.uk/fac/soc/economics/

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    1. Kester, W Carl, 1992. "Industrial Groups as Systems of Contractual Governance," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 24-44, Autumn.
    2. Bruno S. Frey & Alois Stutzer, . "Happiness, Economy and Institutions," IEW - Working Papers 015, Institute for Empirical Research in Economics - University of Zurich.
    3. 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.
    4. Cowling, Keith & Sugden, Roger, 1998. "The Essence of the Modern Corporation: Markets, Strategic Decision-Making and the Theory of the Firm," The Manchester School of Economic & Social Studies, University of Manchester, vol. 66(1), pages 59-86, January.
    5. Cowling, Keith & Sugden, Roger, 1998. "Strategic Trade Policy Reconsidered: National Rivalry vs Free Trade vs International Cooperation," Kyklos, Wiley Blackwell, vol. 51(3), pages 339-57.
    6. Jenkinson, Tim & Mayer, Colin, 1992. "The Assessment: Corporate Governance and Corporate Control," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 1-10, Autumn.
    7. Elaine Sternberg, 1997. "The Defects of Stakeholder Theory," Corporate Governance: An International Review, Wiley Blackwell, vol. 5(1), pages 3-10, 01.
    8. Franks, Julian & Mayer, Colin, 1996. "Hostile takeovers and the correction of managerial failure," Journal of Financial Economics, Elsevier, vol. 40(1), pages 163-181, January.
    9. Kenneth Scott, 1999. "Institutions of Corporate Governance," Journal of Institutional and Theoretical Economics (JITE), Mohr Siebeck, Tübingen, vol. 155(1), pages 3-, March.
    10. Tiroley, Jean, 2000. "Corporate Governance," CEI Working Paper Series 2000-1, Center for Economic Institutions, Institute of Economic Research, Hitotsubashi University.
    11. Becht, Marco & Roell, Ailsa, 1999. "Blockholdings in Europe:: An international comparison1," European Economic Review, Elsevier, vol. 43(4-6), pages 1049-1056, April.
    12. Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
    13. Rydqvist, Kristian, 1992. "Dual-Class Shares: A Review," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 45-57, Autumn.
    14. Prowse, Stephen D., 1990. "Institutional investment patterns and corporate financial behavior in the United States and Japan," Journal of Financial Economics, Elsevier, vol. 27(1), pages 43-66, September.
    15. Franks, Julian & Mayer, Colin, 1998. "Bank control, takeovers and corporate governance in Germany," Journal of Banking & Finance, Elsevier, vol. 22(10-11), pages 1385-1403, October.
    16. Schneider-Lenne, Ellen R, 1992. "Corporate Control in Germany," Oxford Review of Economic Policy, Oxford University Press, vol. 8(3), pages 11-23, Autumn.
    17. Yafeh, Yishay, 2000. "Corporate Governance in Japan: Past Performance and Future Prospects," Oxford Review of Economic Policy, Oxford University Press, vol. 16(2), pages 74-84, Summer.
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