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Complementarities in Corporate Governance : Kieler Studien - Kiel Studies - Ralph P. Heinrich

Complementarities in Corporate Governance

Kieler Studien - Kiel Studies


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Corporate governance reform is currently on the agenda in the European Union, the United States, Japan and in emerging market economies. This book takes a fresh look at the reform debate by focusing on the trade-offs involved in reconciling the diverging interests of shareholders, creditors and managers. It shows how effective corporate governance systems exploit complementarities between the incentives generated by the capital structure, the ownership structure, investor monitoring, takeover threats, and management compensation to minimize the sum of all agency costs facing the public corporation. The book combines a general theoretical treatment with a detailed study of the institutions of corporate governance in Germany, Japan and the United States and a critical assessment of recent reforms.

Introductionp. 3
Corporate Governance Systems - The Gap between the Descriptive and the Formal Literaturep. 9
Modeling Complementarities in Corporate Governancep. 53
Comparing Corporate Governance Systemsp. 111
Systemic Complementaritiesp. 161
Conclusionsp. 193
Mathematical Appendicesp. 198
Referencesp. 211
Indexp. 232
Table of Contents provided by Blackwell. All Rights Reserved.

ISBN: 9783540432265
ISBN-10: 3540432264
Series: Kieler Studien - Kiel Studies
Audience: Tertiary; University or College
Format: Hardcover
Language: English
Number Of Pages: 234
Publisher: Springer-Verlag Berlin and Heidelberg Gmbh & Co. Kg
Country of Publication: DE
Dimensions (cm): 23.5 x 15.5  x 2.54
Weight (kg): 0.55