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| Author: | Scott, K. |
| Title: | Institutions of corporate governance |
| Journal: | Journal of Institutional and Theoretical Economics
1999 : MAR, VOL. 155:1, p. 3-13 |
| Index terms: | INSTITUTIONAL ECONOMICS THEORIES CORPORATE GOVERNANCE |
| Language: | eng |
| Abstract: | This paper is intended to provide a broad overview of the field of corporate governance, and to integrate recent research. Corporate governance is viewed from the perspective of the agency costs involved in obtaining equity investment from minority outside stockholders in a firm controlled by others. Two mechanisms for bounding those agency costs are examined, primarily for the US, Germany and Japan: legal duties imposed on those in control of the firm, and the exercise of stockholder voting rights. |
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