
Contents
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Introduction Introduction
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The Role of Corporate Governance Regulation The Role of Corporate Governance Regulation
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Agency Problems between Corporate Constituents Agency Problems between Corporate Constituents
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Why Do We Need Corporate Governance Regulation? Why Do We Need Corporate Governance Regulation?
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Evolution of Legal Systems and Corporate Governance Regimes Evolution of Legal Systems and Corporate Governance Regimes
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Corporate Governance Database Corporate Governance Database
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Corporate Governance Indices Corporate Governance Indices
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Regulatory Provisions Addressing Management-Shareholder Relations Regulatory Provisions Addressing Management-Shareholder Relations
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The appointment rights strategy The appointment rights strategy
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The decision rights strategy The decision rights strategy
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The trusteeship strategy The trusteeship strategy
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Transparency Transparency
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Regulatory Provisions Addressing Majority-Minority Shareholders’ Relationship Regulatory Provisions Addressing Majority-Minority Shareholders’ Relationship
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Appointment Rights Strategy Appointment Rights Strategy
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The Decision Rights Strategy The Decision Rights Strategy
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The Trusteeship Strategy: Independence of Directors from Controlling Shareholders The Trusteeship Strategy: Independence of Directors from Controlling Shareholders
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The Affiliation Rights Strategy The Affiliation Rights Strategy
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Regulatory Provisions Aimed at Creditor Rights Protection Regulatory Provisions Aimed at Creditor Rights Protection
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Evolution of Corporate Governance Regulations around the World Evolution of Corporate Governance Regulations around the World
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Ownership Structure around the World Ownership Structure around the World
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The Protection of Shareholder Rights The Protection of Shareholder Rights
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The Protection of Minority Shareholder Rights The Protection of Minority Shareholder Rights
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The Protection of Creditor Rights The Protection of Creditor Rights
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Conclusion Conclusion
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References References
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5 An International Corporate Governance Index
Get accessMarina Martynova, Management School, University of Sheffield
Luc Renneboog, Department of Finance and Center, Tilburg University.
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Published:01 July 2013
Cite
Abstract
This chapter presents a comparative analysis of corporate governance regulatory systems and their development since 1990 in the United States and in 30 European countries. It introduces a proposed methodology that would help create detailed corporate governance indices which describe the primary features of capital market laws in these countries. These indices also determine how the law in each country deals with different potential agency conflicts between corporate constituencies. The analysis of regulatory provisions in the suggested framework provides a better understanding of how corporate law functions in a certain country, as well as which strategies the regulators use to achieve their goals.
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