Corporate governance and control

Marco Becht (), Patrick Bolton and Ailsa Roell

Chapter 01 in Handbook of the Economics of Finance, 2003, vol. 1, Part 1, pp 1-109 from Elsevier

Abstract: Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of corporate control, discuss the main legal and regulatory institutions in different countries, and examine the comparative corporate governance literature. A fundamental dilemma of corporate governance emerges from this overview: regulation of large shareholder intervention may provide better protection to small shareholders; but such regulations may increase managerial discretion and scope for abuse.

JEL-codes: G3 (search for similar items in EconPapers)
Date: 2003

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Related works:
Working Paper: Corporate Governance and Control (2002)
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