We investigate the empirical relation between competition and corporate governance and the effect of country characteristics on this relation. We find that competition is associated with strong corporate governance, but only in less developed countries. We next examine the impact of corporate...

Berkshire Hathaway, among history's largest and most successful corporations, shuns middlemen; its chairman, the legendary investor Warren Buffett, excoriates financial intermediaries. The acquisitive conglomerate rarely borrows money, retains brokers, or hires consultants. Its governance is...

We investigate the empirical relation between competition and corporate governance and the effect of country characteristics on this relation. We find that competition is associated with strong corporate governance, but only in less developed countries. We next examine the impact of corporate...

We hypothesize that companies with board level employee representation (BLER) are less likely than other firms to experience crisis-induced employment reductions, since the employers and employees in BLER firms are better able to negotiate alternative labor-cost savings to preserve employment....

We investigate the empirical relation between competition and corporate governance and the effect of country characteristics on this relation. We find that competition is associated with strong corporate governance, but only in less developed countries. We next examine the impact of corporate...

This Written Statement presents aspects in China's corporate governance framework, state corporate ownership and control, and the Chinese Communist Party's roles in corporate governance. It was submitted as part of a testimony before the U.S.-China Economic and Security Review Commission,...

Two of the most prominent Japanese corporate governance scholars, Professors Miwa and Ramseyer (‘M&R'), have recently published numerous articles and a book setting out their contrarian free-market theory of Japanese corporate governance. According to their theory, contemporary Japanese...

We begin by elaborating on the building blocks for understanding the dynamic interrelationships between stakeholder theory, managerial discretion and stakeholder orientation. We then provide a sketch of the dynamic between managerial discretion and stakeholder orientation and their likely...

This paper reconsiders the orthodox Anglo-American understanding of labour as a constituency situated outside of the core corporate governance domain. It challenges the dominant neo-classical theory of the firm, which asserts that shareholders are in general the only group of ‘incomplete’...