Abstract

http://ssrn.com/abstract=1640671
 
 

Footnotes (130)



 


 



Corporate Governance, Capital Market Regulation and the Challenge of Disembedded Markets


Peer C Zumbansen


Dickson Poon School of Law - King's College London

July 15, 2010

Osgoode CLPE Research Paper No. 24/2010

Abstract:     
Long before the current financial and economic crisis, corporate governance and securities regulation had become part of one of the most interesting and dynamic regulatory areas in law and policy making today. Both areas had been undergoing dramatic transformations over the past 30-40 years, which saw a global expansion of capital markets and a deep-running ‘financialisation’ of the corporation. Around the world governments saw themselves challenged to adapt their regulatory apparatus to the whims and hues of nervous investors with global sensitivities. Meanwhile, scholars in law, economics, but also political science and sociology fiercely debated whether what was unfolding constituted a worldwide convergence around a corporate governance philosophy that placed the shareholder at the centre or whether we would continue to have different, divergent corporate governance systems around the world. Today’s crisis-responses appear to be primarily designed to ‘fix the excesses’ of the past decades, rather than driven by an interest to connect the present efforts at regulation with the earlier convergence vs. divergence debates, which themselves built on much older critiques of the embeddedness of the firm and the political economy context of corporate activity. The paper contends that the sustainability of future corporate governance and securities regulation depends on the effort to critically examine both areas in the context of a larger inquiry into the goals and challenges of market regulation.

Number of Pages in PDF File: 30

Keywords: Financial Crisis, Corporate Governance, Embeddedness, Transnational legal pluralism

JEL Classification: K10, K22

working papers series





Download This Paper

Date posted: July 17, 2010  

Suggested Citation

Zumbansen, Peer C, Corporate Governance, Capital Market Regulation and the Challenge of Disembedded Markets (July 15, 2010). Osgoode CLPE Research Paper No. 24/2010. Available at SSRN: http://ssrn.com/abstract=1640671 or http://dx.doi.org/10.2139/ssrn.1640671

Contact Information

Peer C Zumbansen (Contact Author)
Dickson Poon School of Law - King's College London ( email )
Somerset House East Wing
Strand
London, WC2R 2LS
United Kingdom
Feedback to SSRN


Paper statistics
Abstract Views: 1,693
Downloads: 287
Download Rank: 60,950
Footnotes:  130

© 2014 Social Science Electronic Publishing, Inc. All Rights Reserved.  FAQ   Terms of Use   Privacy Policy   Copyright   Contact Us
This page was processed by apollo5 in 0.281 seconds