We develop a model to illustrate that controlling shareholders choose the level of investor protection that maximizes their own interests. Controlling shareholders in companies with complicated control structures can easily extract private benefits and are thus reluctant to enhance investor...

The claim that institutions matter for economic growth and development has so far received a more extensive theoretical treatment than an empirical or methodological one. Basing our approach on a coevolutionary conception of relations between law and the economy, we link theory to method and...

This study provides critical observations on the state of key global equity markets as recent developments have put into question their efficiency and effectiveness in facilitating capital formation. It covers the top 26 initial public offering (IPO) producing nations, with a particular focus on...

This report aims to provide an assessment of Turkey's corporate governance regime and practices with a view to identify key issues and obstacles to investments and growth. We will focus on two aspects of CG framework in Turkey; (i) legal and regulatory protection offered to outside investors...

This article considers the effect, if any, that company law and corporate governance law had on the phenomenon of excessive lending and borrowing that occurred in the Irish economy towards the end of the Celtic Tiger era (1990–2008). The final years of the Celtic Tiger period saw the growth...

Social benefit entities, such as benefit corporations and low-profit limited liability companies (or L3Cs) were designed to support and encourage socially responsible business. Unfortunately, instead of helping, the emergence of social enterprise enabling statutes and the demise of director...

The early 21st century will be remembered for its shift in global economic power dynamics. In the past two decades, the Chinese government has fostered the growth of many of the world’s most valuable firms, advanced complete integration of Chinese companies in global supply chains, and...

Purpose: Corporate governance in essence is designed to lead to economic growth. Nevertheless, despite placing great emphasis on promoting corporate governance practices over the years, countries in Sub-Saharan Africa (SSA) have so far achieved insignificant or no economic growth. This, however,...