Description
Book SynopsisThis book provides an insightful view of major issues in the economics of corporate governance (CG) and mergers. It presents a systematic update on the developments in the two fields during the last decade, as well as highlighting the neglected topics in CG research, such as the role of boards, CG and public interest and the relation of CG to mergers. Two important conclusions can be drawn from this book: the first is that corporate governance systems that better align shareholders' and managers' interests lead to better corporate performance; second, there is an important relationship between CG structures and the quality of firm decision-making, one of the most important being the decision to merge or take over another firm.
Focusing on some of the often-neglected aspects of corporate governance such as non-profit organizations and public interest, as well as mergers and acquisitions from a CG perspective, this book will be a valuable resource for both academics and postgraduate students of finance, business and economics.
Table of ContentsContents: Preface 1. The Economics of Corporate Governance and Mergers Klaus Gugler and B. Burcin Yurtoglu 2. Legal Origin, Shareholder Protection and the Stock Market: New Challenges from Time Series Analysis Sonja Fagernäs, Prabirjit Sarkar and Ajit Singh 3. Corporate Governance and the Public Interest: The Way Forward J. Robert Branston, Keith Cowling and Roger Sugden 4. Corporate Boards of Directors: A Precautionary Perspective Oliver E. Williamson 5. Corporate Governance: A Review of the Role of Banks Hans Degryse, Steven Ongena and Günseli Tümer-Alkan 6. Competition between Profit Seekers and Non-Profit Firms: The Case of German Banking Manfred Neumann, Richard Reichel and Jürgen Weigand 7. Mergers: An Overview Stephen Martin 8. A New Retrospective on Mergers F.M. Scherer 9. Mergers and Efficiency: Theory, Empirical Evidence, and Competition Policy in Japan Hiroyuki Odagiri 10. UK Corporate Governance and Takeover Performance Andy Cosh, Paul Guest and Alan Hughes 11. Mergers and Alliances in Pharmaceuticals: Effects on Innovation and R&D Productivity Henry Grabowski and Margaret Kyle 12. Endogenous Horizontal Mergers in Dynamic Markets Engelbert J. Dockner, Andrea Gaunersdorfer and Steffen Jørgensen 13. Vertical Mergers in Markets with Network Effects Gerhard Clemenz 14. The Impact of Competition on Macroeconomic Performance Karl Aiginger Index
