Financial systems and corporate governance: a review of the international evidence
Article Abstract:
Colin Mayer examines how governance functions, and examines its links with performance and financial systems. There does not appear to be a single governance system that suits all periods and all countries. Mayer assumes that governance affects management, but this may not be the case. There are a number of explanatory variables affecting corporate performance. Historical analyses could help us to understand this issue, as could analyses of international business enterprises, and insights from social psychology and psychology.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1998
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Ownership and corporate governance of stock exchanges
Article Abstract:
Stock exchanges are undergoing a process of change which affects their governance structure and ownership. Most large metropolitan exchanges are becoming public limited companies rather than cooperative associations. Proprietary trading systems are also being developed, and exchange-related services are becoming debundled as investors become more sophisticated. Legal changes have permitted these wider changes, and the law also has to catch up with the changes, especially anti-trust and company law.
Publication Name: Journal of Institutional & Theoretical Economics
Subject: Economics
ISSN: 0932-4569
Year: 1998
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