This paper argues that differences in the dispersion of corporate ownership can help explain why party positions on corporate governance vary across countries and over time. Expectations that left/right conflicts should pitch capital against labor overlook that "capital" is not a homogenous...

Anglo-American stock markets are much larger than their continental counterparts. Does investor protection and governance explain these differences? Using UK data, we examine four different forms of intervention which are suppose to promote good governance: takeovers, independent directors,...