Controlling Shareholder Systems and Corporate Governance

Shalini Perera
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Shalini Perera: School of Law, Queen Mary, University of London, UK

Chapter 6 in Corporate Ownership and Control:Corporate Governance and Economic Development in Sri Lanka, 2010, pp 161-227 from World Scientific Publishing Co. Pte. Ltd.

Abstract: AbstractThe following sections are included:IntroductionOwnership and ControlFamily ControlGroup AffiliationImpact of Controlling Shareholder SystemsWhy are Controlling Shareholders Efficient in One Jurisdiction and Not in Another?Framework of the ChapterCosts of Controlling Shareholder SystemsPrivate Benefits of ControlPrivate Benefits of Control in Sri LankaPrivate Benefits of Control in Group Scenarios: TunnellingPrivate Benefits of Control in Group Scenarios: Tunnelling in Sri LankaPolitical InfluencePolitical Influence in Sri LankaMarket Power and Anti-Competitive PracticesMarket Power and Anti-Competitive Practices in Sri LankaEntrenchmentEntrenchment in Sri LankaConclusionBenefits of Controlling Shareholder SystemsLimiting the Classic Agency ProblemLimiting the ‘Classic Agency Problem’ in Sri LankaTrust and ReputationTrust and Reputation in Sri LankaControlling Shareholders as Private Investment VehiclesControlling Shareholders as Private Investment Vehicles in Sri LankaConclusionThe Implications of a Cost-Benefit Analysis of Controlling Shareholder Systems for Corporate GovernanceThe Benefits of Controlling Shareholder Systems are Dependent on the Size of the Economic Stake of the Controlling Shareholders and the Divergence between their Economic Stakes and Control RightsApplication to Sri LankaCosts Associated with Controlling Shareholder Systems are Contingent upon the Legal and Regulatory Environment, and Market ForcesApplication to Sri LankaThe Controlling Shareholder Trade-offIntroductionControlling Shareholder Trade-offInferences for Corporate Governance Reform in Sri Lanka by Examination of the Controlling Shareholder Trade-off

Keywords: Corporate Governance; Economic Development; Sri Lanka; Corporate Ownership; Corporate Control; Controlling Shareholders; Lenders (search for similar items in EconPapers)
Date: 2010
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