The Global History of Corporate Governance: An Introduction

Randall Morck and Lloyd Steier

No 11062, NBER Working Papers from National Bureau of Economic Research, Inc

Abstract: This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as far back into preindustrial period; legal system origin, though in a more nuanced form than mere statutory shareholder rights; and wealthy families. They also clarify the roles of ideologies, business groups, trust, institutional transplants, and politics in institutional evolution and financial development. Other themes are the universality of business insiders' investments in, entrenchment, and a possible behavioral basis for this.

JEL-codes: G3 N2 (search for similar items in EconPapers)
Date: 2005-01
New Economics Papers: this item is included in nep-acc, nep-fin, nep-hpe and nep-pol
Note: CF
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (63)

Published as The Global History of Corporate Governance: An Introduction , Randall Morck, Lloyd Steier. in A History of Corporate Governance around the World: Family Business Groups to Professional Managers , Morck. 2005

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Chapter: The Global History of Corporate Governance: An Introduction (2005)
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