The emergence of institutional investors as shareholders has challenged, and rendered outmoded, many of the traditional assumptions about shareholders and their engagement with the corporation. There has been considerable interest in, and reassessment of, the position of institutional investors...

A growing body of literature on corporate governance compares Canada to the United States and/or the United Kingdom, given their Anglo-Saxon ancestry. However, this paper compares Canada to Germany and considers an often overlooked resemblance between the two: the incidence of controlling...

The present Anglo-American system of corporate control is said to be a random result of market forces, the strong influence of which resulted from a weak state, and undefined principles in the state's economic policy until the 1930s. In contrast, in Continental Europe, strong states with a...

The collapse of Eastern European socialist economies was a key developments which brought comparative corporate governance issues to the forefront in the early 1990s. It also provided the basis for a unique corporate governance experiment, designed to transform Russia into a US-style market...

During the past decades, corporate law and corporate governance debates have generally been skeptical of elements of economic ‘Nationalism’ or ‘protectionism.’ Arguably, globalization and convergence in corporate governance have resulted in a reduction of protectionist policies. However,...

One of the perennial questions in corporate law is how much deference should be given to directors' judgments. The introduction of a statutory business judgment rule in Australia in 2000 was designed to bolster the autonomy and discretion of the board. At the same time, however, an intriguing...

We analyse the principles for sound compensation practices at financial institutions and their implementation standards (briefly PSSCPs) issued in 2009 by the Financial Stability Board (FSB). We examine, first of all, the political economy of the PSSCP. We describe their formation as a result of...

In this Article we submit that the compensation structures at banks before the financial crisis were not necessarily flawed and that recent reforms in this area largely reflect already existing best practices. In Part I we review recent empirical studies on corporate governance and executive pay...

Key points:• This article considers how the recent market turmoil affected national banking systems, thereby prompting state measures;• It describes the remuneration problems shown by the financial crisis: rewards for failure; short-term behaviour; inappropriate design of performance...