We introduce the topic of this special issue on the “Role of Financial and Legal Institutions in International Governance”, with a particular emphasis on a notion of “international mobility of corporate governance”. Our discussion places the special issue at the intersection of law,...

The managerial agency issue between manager and investors can be controlled by debtholders via short term debt as it provides an external control on managers via frequent renegotiation of the debt contract. Alternatively, increased board independence can mitigate the managerial agency problem by...