To investigate the widespread claim that stock market short-termism is a major drag on U.S. corporate investment, R&D, and the broad economy, the author examines trends in corporate capital investment, buybacks, and R&D that stretch back, in some cases, over the past 50 years. (He briefly...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

Most comparative corporate governance scholarship is preoccupied with the protection of shareholders against illicit self-dealing by managers and controlling shareholders, and the problem of agency cost. Differences in the role of stakeholders such as employees are acknowledged in the...

Countries characterized by strong workers’ political rights tend to exhibit a strong and concentrated corporate ownership structure. One explanation is that employees' political rights influence corporate governance: systems characterised by strong employees' rights tend to be balanced by...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

According to Mark Roe, politics influences corporate governance. The separation between control and ownership is only possible when there is a low “degree of social democracy”. By contrast, systems, characterised by strong employees’ rights, are necessarily balanced by strong and...

Most pre-crisis explanations of the various corporate governance systems have considered the separation between ownership and control to be an advantage of the Anglo-American economies. They have also attributed the failure of other countries to achieve these efficient arrangements to their...

There is currently an exciting debate underway regarding the way in which power should be allocated in the modern public corporation. A special edition of the Harvard Law Review in April 2006 was devoted to this debate.The current debate is the result of recent proposals, both by the US...

A fast-growing legal literature commenting on a set of empirical papers alleging anticompetitive effects of common ownership claims that the reported effects, if true, would imply that corporate executives violate their fiduciary duty: whereas acting in the interest of common owners can help...