The Institutions of Corporate Governance

Mark Roe

Chapter 15 in Handbook of New Institutional Economics, 2008, pp 371-399 from Springer

Abstract: I outline here the institutions of decision-making in the large public firm in the wealthy West, emphasizing those that try to thwart decision-making from going awry. By corporate governance, I mean the relationships at the top of the firm—the board of directors, the senior managers, and the stockholders. By institutions I mean those repeated mechanisms that allocate authority among the three and that affect, modulate and control the decisions made at the top of the firm.

Keywords: Corporate Governance; Capital Structure; Agency Cost; Executive Compensation; Employment Protection (search for similar items in EconPapers)
Date: 2008
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DOI: 10.1007/978-3-540-69305-5_16

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