Theory tells us that managerial ownership of shares in a firm generates two conflicting effects on management behaviour, i.e. the convergence effect whereby increased managerial ownership can improve corporate performance, and the entrenchment effect which counters it. A number of studies have...

The competing merits of plurality and proportional representation have intrigued political economists and political scientists for quite some time. Of primary interest is whether one or the other system is better in serving the interests of the electorate. Since theoreticians are unable to...

Market liberalization in emerging-market economies and the entry of multinational firms spur significant changes to the industry/institutional environment faced by domestic firms. Prior studies have described how such changes tend to be disruptive to the relatively backward domestic firms, and...

The distinguished authors in this volume address the fundamental causes for such heterogeneous international experiences, placing particular emphasis on the role of institutions. They demonstrate how the study of economic development is increasingly linked to the development of institutions,...

The two most important forces affecting the world economy in the closing decades of the 20th century are globalization and privatization. While proceeding in parallel, these forces have nonetheless had significant interactions with one another, which are examined in this collection.

This topical book analyses the change of electoral rules in Italy from proportional representation toward plurality. While Italy is used as the illustrative case, the analysis has far-ranging theoretical and practical implications, and will therefore be of interest to academics and researchers...

No Abstract