Corporate Governance and Capital Flows in a Global Economy

by Peter K. Cornelius, Bruce Kogut

Overview

This volume is a timely and insightful exploration into the issues of corporate governance and the impact of corporate governance practices on investments in developing countries. Sponsored by the World Economic Forum, INSEAD, and Wharton, this book collects original essays from senior researchers at the worlds top academic institutions as well as from key policymakers and business leaders, It analyzes global aspects of governance in relation to such issues as corporate performance, privatization, venture capitalism, and workers. With global financial markets having become more integrated, the book pays particular attention to the role of corporate governance in emerging-market economies and international capital flows. Rich in facts and ideas, Corporate Governance and Capital Flows in a Global Economy is a must read for anyone interested in financial crises, international risk management, and global competitiveness.

Product Details

ISBN-13:	9780195167054
Publisher:	Oxford University Press
Publication date:	08/07/2003
Series:	Global Outlook Book Series , #1
Pages:	528
Product dimensions:	9.40(w) x 6.30(h) x 1.20(d)

About the Author

World Economic Forum

Wharton School, University of Pennsylvania

Table of Contents

Foreword, Patrick T. Harker and Gabriel HawawiniForeword, Klaus SchwabContributors1 Introduction. Corporate Governance and Capital Flows in a Global Economy, Peter K. Cornelius and Bruce KogutPart I: Current and Emerging Challenges in Corporate GovernanceEnron and Its Aftermath2 What Caused Enron?. A Capsule of Social and Economic History of the 1990's, John C. Coffee, Jr.3 Chareholder Value, Corporate Governance, and Corporate Performance. A Post-Enron Reassessment of the Conventional Wisdom, Margaret M. Blair4 The Bubble and the Media. , Alexander Dyck and Luigi ZingalesExpanding the Purview of Governance: Employees and Early Investors5 Employees and Corporate Governance. , Mary O'Sullivan6 Venture Capital and Corporate Governance. , Franklin Allen and Wei-ling SongPart II: Corporate Governance, Economic Development, and Cross-Border Capital FlowsCapital Flows and Multinational Corporations7 Prospects for Emerging-Market Flows Amid Investor Concerns About Corporate Governance. , Helmut Reisen8 Direct Investment and Corporate Governance: Will Multinational Corporations "Tip" Countries Toward Institutional Change?. , Bruce Kogut and J. Muir Macpherson9 Corporate Risk Assessment and Business Strategy. A Prime Task for Senior Management, Withold J. Henisz and Jonathan StoryRole of Foreign Banks in Governance10 Foreign Bank Ownership and Corporate Governance in Emerging-Market Economies. , Peter K. Cornelius11 Emerging Owners, Eclipsing Markets?. Corporate Governance in Central and Eastern Europe, Erik Berglöf and Anete PajusteLaw and Governance12 Corporate Governance and Private Capital Flows to Latin America. , Alberto Chong, Alejandro Izquierdo, Alejando Micco, and Ugo Panizza13 Institutions, Corporate Governance and amd Crises. , Daron Acemoglu and Simon Johnson14 Of Legal Transplants, Legal Irritants, and Economic Development. , Katharina Pistor and Daniel BerkowitzPart III: Investors' and Practitioners' PerspectivesGovernance Seen by the Minority Shareholder15 Portfolio Investment in Emerging Markets. An Investor's Perspective, Michael J. Johnston16 Corporate Governance, Public Policy, and Private Investment Decisions, 2002. , William Dale Crist17 Corporate Governance. Responsibilities of Fund Managers and Institutional Investors, Mark Mobius18 Corporate Governance and Private Equity Investments. Max Burger-Calderon, Philipp Gusinde, and Stefan HoffmanCorporate Governance in Transition: China, Russia, and Poland19 Corporate Governance in Mainland China. Where Do We Go from Here?, Anthony Neoh20 Governance in an Emerging Financial Market. The Case of Russia, Igor KostikovGovernance in an Emerging Financial Market. The Case of Poland, Wieslaw RozluckiSocial Corporate Responsibility and the New Learning22 Corporate Values, Enterprise Risk, and the Board. , Michael J. Philips23 Redefining the Role and Content of Corporate Governance from the Perspective of Business in Society and Corporate Social Responsibility24 Corporate Governance Reform. , Lutgart van den Berghe, in collaboration with Steven CarchonLearning From Our Mistakes, Ira M. Millstein and Holly J. Gregory

Editorial Reviews

"Restoration of confidence in the market economy and in the efficient allocation of resources internationally depends on improvements in corporate governance. This collection of essays, all by leaders in their respective fields, offers essential guidance to those charged with raising governance standards worldwide."—Sir Adrian Cadbury, former Chairman of Cadbury Schweppes and recipient of the International Corporate Governance Network Award

"This book is an important contribution to the analysis of the current corporate governance risks and challenges, with a particular emphasis on the contribution corporate governance can make to the development of emerging markets. The quality of the authors, the depth of their analyses, and their wide scope make it a must-read for all who take an interest in the current corporate governance debate."—Jaap Winter, Chairman, High Level Group of Company Law Experts, European Commission and Professor of International Company Law, Erasmus University of Rotterdam

"Everyone agrees that good corporate governance is a cornerstone of any modern market-oriented economy. But what IS good corporate governance, and are there principles universal across countries? This fundamental question is addressed in a superb collection of essays, featuring a leading cast of academics and practitioners and penned in an unusually lively style. Policymakers not only in emerging market economies, but in developed economies as well, should find this book extremely helpful."—Kenneth Rogoff, Economic Counselor and Director, International Monetary Fund

From the Publisher