Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
University of Alberta - Department of Finance and Statistical Analysis; National Bureau of Economic Research (NBER)
Bernard Yin Yeung
NUS Business School, National University of Singapore
Annual Review of Financial Economics, Vol. 1, pp. 145-179, 2009
Different economies at different times use different institutional arrangements to constrain the people entrusted with allocating capital and other resources. Comparative financial histories show these corporate governance regimes to be largely stable through time, but capable of occasional dramatic change in response to a severe crisis. Legal origin, language, culture, religion, accidents of history (path dependence), and other factors affect these changes because they affect how people and societies solve problems.
Accepted Paper Series
Date posted: June 4, 2010
© 2013 Social Science Electronic Publishing, Inc. All Rights Reserved.
This page was processed by apollo6 in 0.750 seconds