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| Author: | La Porta, R. Lopez-de-Silanes, A. S. Vishny, R. |
| Title: | Investor protection and corporate governance |
| Journal: | Journal of Financial Economics
2000 : OCT, VOL. 58:1-2, p. 3-27 |
| Index terms: | Investors Shareholders Financial services Investor protection Investment law |
| Language: | eng |
| Abstract: | This paper describes the legal protection of investors as a potentially useful way of thinking about corporate governance, the differences in laws and the effectiveness of their enforcement across countries, discusses the possible origins of these differences, summarizes their consequences, and assesses potential strategies of corporate governance reform. The authors argue that the legal approach is a more fruitful way to understand corporate governance and its reform than the conventional distinction between bank-centered and market-centered financial systems. |
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