Issues in corporate governance

• Autores: S. P. Chakravarty
• Localización: Serie estudios - Instituto Universitario de la Empresa, ISSN 1139-4501, Nº. 30, 1996, págs. 1-23
• Idioma: inglés
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• Resumen

  • The growth of large firms and the mobility of finance capital across national frontiers have brought to focus one of the unresolved problems of managing the economy. The problem is to develop a legal framework to provide an economic incentive for company management to look after the interest of investors. Informal arrangements amongst family members and bankers in family-owned enterprises cannot be replicated amongst shareholders in companies where the equities are dispersed amongst a wider range of people. Issues raised by these developments in the capital markets are explored here. It is argued that there is no unique legal system of property rights wich is suited to all countries