Convergence and Persistence in Corporate Governance

Corporate governance is on the reform agenda all over the world. How will global economic integration affect the different systems of corporate ownership and governance? Is the Anglo-American model of shareholder capitalism destined to become the template for a converging global corporate governance standard or will the differences persist? This reader contains classic work from leading scholars addressing this question as well as several new essays. In a sophisticated political economy analysis that is also attuned to the legal framework, the authors bring to bear efficiency arguments, politics, institutional economics, international relations, industrial organization, and property rights. These questions have become even more important in light of the post-Enron corporate governance crisis in the United States and the European Union's repeated efforts at corporate integration. This will become a key text for postgraduates and academics.

Jeffrey N. Gordon is the Alfred W. Bressler Professor of Law and Co-Director of the Center for Law and Economic Studies at the Columbia Law School, where he teaches corporate law, mergers and acquisitions, comparative corporate governance, and a course on regulation Mark J. Roe is the Berg Professor of Corporate Law at the Harvard Law School, where he teaches corporate law and bankruptcy