Téléchargez le livre : Contingent Capital

Contingent Capital

Short-term Investors and the Evolution of Corporate Governance in France and Germany

de

Éditeur :

OUP Oxford


Paru le : 2011-10-27



eBook Téléchargement , DRM LCP 🛈 DRM Adobe 🛈
Lecture en ligne (streaming)
77,13 €
Téléchargement immédiat
Dès validation de votre commande
Ajouter à ma liste d'envies
Image Louise Reader présentation

Louise Reader

Lisez ce titre sur l'application Louise Reader.

badge apple Application Louise Reader
badge Android Application Louise Reader
Description
Corporate Governance has become a major topic of interest for both academics and policy-makers in recent years. The advent of major financial scandals in the early 2000s (Enron, WorldCom, Ahold, Parmalat) was followed by turmoil in the financial markets at the end of the decade. The increased power of finance was a common factor singled out in the development of these events - especially shareholder value oriented institutional investors - across advanced capitalist economies. Will the pressures of financial market globalization force companies to converge on a shareholder-based model of corporate governance? In Contingent Capital Michel Goyer highlights the importance of the institutional context in which companies are embedded, focusing on the divergence in the allocation of capital by shareholder-value oriented institutional investors in Europe's two largest non-liberal market economies: France and Germany. The major difference between these two economies is that France has proven to be twice as attractive to short-term, impatient shareholders with a short-term horizon as compared to Germany - a disparity that disappears for investors with a longer-term term horizon. These empirical findings highlight the importance of providing a sophisticated differentiation between different categories of institutional investors in order to assess the impact associated with the greater prominence of finance. Goyer points to the importance of firm-level institutional arrangements in the process by which companies coordinate their activities as the key variable for understanding the investment allocation of impatient investors. The implication is that the governing of corporations is not about whether or not strategies of shareholder value are being adopted - but rather what types of strategies of shareholder value are being pursued.
Pages
n.c
Collection
n.c
Parution
2011-10-27
Marque
OUP Oxford
EAN papier
9780191617911
EAN PDF
9780191617911
Informations sur l'ebook
Nombre pages copiables
0
Nombre pages imprimables
0
Taille du fichier
1567 Ko
Ce livre est accessible aux handicaps Voir les informations sur l'accessibilité
Prix
77,13 €
Michel Goyer is Associate Professor in the Industrial Relations and Organizational Behavior unit, Warwick Business School, University of Warwick. He holds a PhD in Political Science from MIT. He has published in the areas of comparative corporate governance, institutional theory, and diversity in advanced capitalist economies, and on labor relations in France.

Suggestions personnalisées