Corporate Governance

Luigi Zingales

No 1806, CEPR Discussion Papers from C.E.P.R. Discussion Papers

Abstract: This paper summarizes my own personal view of what corporate governance is about. I argue that it makes sense to discuss corporate governance only in an incomplete contract world. In this world, the notion of corporate governance is intrinsically related to the definition of the firm. In this respect, the shortcomings of the existing definitions of the firm are reviewed and the possible applications of the idea that the firm is a ‘nexus of specific investments’ introduced by Rajan and Zingales (1997a and 1997b). The paper concludes by discussing the limitations of the incomplete contracts approach to corporate governance.

Keywords: Corporate; Governance (search for similar items in EconPapers)
JEL-codes: G3 (search for similar items in EconPapers)
Date: 1998-03
References: Add references at CitEc
Citations: View citations in EconPapers (61)

Downloads: (external link)
http://www.cepr.org/active/publications/discussion_papers/dp.php?dpno=1806 (application/pdf)
CEPR Discussion Papers are free to download for our researchers, subscribers and members. If you fall into one of these categories but have trouble downloading our papers, please contact us at subscribers@cepr.org

Related works:
Working Paper: Corporate Governance (1997)
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:cpr:ceprdp:1806

Ordering information: This working paper can be ordered from
http://www.cepr.org/ ... ers/dp.php?dpno=1806

Access Statistics for this paper

More papers in CEPR Discussion Papers from C.E.P.R. Discussion Papers Centre for Economic Policy Research, 33 Great Sutton Street, London EC1V 0DX.
Bibliographic data for series maintained by ().