Description
Book SynopsisDo modes of management depend on company ownership? Does macroeconomic performance rely on shareholder value? The contributions collected in this book explore these questions from economic, historical and legal perspectives. They examine company ownership through the study of national institutions, with particular focus on North America and Europe. The twelve economic and legal specialists of this volume seek to explain why firms organized along the shareholder model have not outperformed other forms of ownership. Answers lie in the historical and institutional background of each country.
This unique book will appeal to a wide-ranging audience encompassing researchers, students and academics in the fields of corporate governance, company law, finance, and organization theory.
Trade Review'The 2008 financial crisis has caused the validity of the shareholder-oriented model to be scrutinized. Was the model right? Was it just that the regulations were inadequate, or was it the financiers' greed? Should we not have earnestly searched for another model? Originally presented a year before the crisis, the papers in this volume did more than anticipate such debate. This book provides excellent food for thought for anyone interested in how to reconstruct the corporate economy.' -- Masahiko Aoki, Stanford University, US
Table of ContentsContents: Preface About the Series: Professor Robert M. Solow Introduction Jean-Philippe Touffut 1. Ownership, Corporate Governance, Specialization and Performance: Interpreting Recent Evidence for OECD Countries Wendy Carlin 2. Ownership Concentration, Employment Protection and Macroeconomic Performance: Making a Case for Interdependent Time-evolving Institutions Donatella Gatti 3. The Impact of Shareholder Structure on Large Listed Companies in France: Time Horizons and Control Jean-Louis Beffa and Xavier Ragot 4. Questioning the Legitimacy of Shareholder Power Christophe Clerc 5. Corporate Governance, Labour Relations and Human Resource Management in the UK and France: Convergence or Divergence? Simon Deakin and Antoine Rebérioux 6. Corporate Social Responsibility as a Contractarian Model of Multi-stakeholder Corporate Governance: Normative Principles and Equilibrium Properties Lorenzo Sacconi 7. Round Table Discussion: Shareholder Rights in European Corporations: Impact on Economic Performance Margaret Blair, Jean-Paul Fitoussi, Gregory Jackson and Robert M. Solow (Chairman) Index
