Global Corporate Governance: Edited by Donald H. Chew and Stuart L. Gillan
Global Corporate Governance: Edited by Donald H. Chew and Stuart L. Gillan
Contents
Introduction I ix Part I: Governance, Markets, and Law 1. The Limits of Financial Globalization / 3 Rene M. Stulz 2. The Political Roots of American Corporate Finance / 17 Mark J. Roe 3. International Corporate Differences: Markets or Law? / 41 Frank H. Easterbrook 4. Explaining Differences in the Quality of Governance among Companies: Evidence from Emerging Markets / 52 Art Durnev and E. Han Kim Part II: Cross-Country Evidence on Governance Effectiveness and the Cost of Capital 5. Control Premiums and the Effectiveness of Corporate Governance Systems / 73 Alexander Dyck and Luigi Zingales 6. Globalization, Corporate Finance, and the Cost of Capital / 106 Rene M. Stulz 7. Which Capitalism? Lessons from the East Asian Crisis / 135 Raghuram G. Rajan and Luigi Zingales
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CONTENTS
Part HI: Country-Specific Evidence on Ownership and Governance Structure 8. Corporate Governance in India / 151 Rajesh Chakrabarti, William L. Megginson, and Pradeep K. Yadav 9. The Financial and Economic Lessons of Italy's Privatization Program / 177 William L. Megginson and Dario Scannapieco 10. Changes in Korean Corporate Governance: A Response to Crisis / \96~~ E. Han Kim and Woochan Kim 11. The Ownership Structure, Governance, and Performance of French Companies: Corporate Control and the Politics of Finance / 216 Peter Harbula 12. Corporate Ownership and Control in the U.K., Germany, and France / 239 Julian Franks and Colin Mayer Part IV: The Role of Active Investors 13. London Business School Roundtable on Shareholder Activism in the U.K., Center for Corporate Governance, London, February 9, 2006 / 265 14. Leveraged Buyouts in the U.K. and Continental Europe: Retrospect and Prospect / 294 Mike Wright, Luc Renneboog, Tomas Simons, and Louise Scholes 15. Sovereign Wealth Funds: A Growing Global Force in Corporate Finance / 327 Shams Butt, Anil Shivdasani, Carsten Stendevad, and Ann Wyman About the Contributors I 347 Index I 351