Comparative Corporate Governance

The business corporation is one of the greatest organizational inventions, but it creates risks both for shareholders and for third parties. To mitigate these risks, legislators, judges and corporate lawyers have tried to learn from foreign experiences and adapt their regulatory regimes to them. In the last three decades, this approach has led to a stream of previously unseen corporate and capital market law reforms. Corporate governance, the system by which companies are directed and controlled, has become a key topic for legislation, practice and academia all over the world. Corporate scandals and financial crises have repeatedly highlighted the need to better understand the economic, social, political and legal determinants of corporate governance in individual countries. Comparative Corporate Governance furthers this goal by bringing together current scholarship in law and economics with the expertise of local corporate governance specialists from twenty-three countries.