References (36)


Citations (12)



Innovation in Corporate Law

Katharina Pistor

Columbia University School of Law

Yoram Keinan

Ernst & Young

Jan Kleinheisterkamp

London School of Economics - Law Department; Cornell University - Law School

Mark D. West

University of Michigan Law School

Journal of Comparative Economics, Vol. 31, pp. 676-694, 2003

In most countries large business enterprises today are organized as corporations. The corporation with its key attributes of independent personality, limited liability and free tradeability of shares has played a key role in most developed market economies since the 19th century and has made major inroads in emerging markets. We suggest that the resilience of the corporate form is a function of the adaptability of the legal framework to a changing environment. We analyze a country's capacity to innovate using the rate of statutory legal change, the flexibility of corporate law, and institutional change as indicators. Our findings suggest that origin countries are more innovative than transplant countries.

Number of Pages in PDF File: 35

JEL Classification: G3, K2, N2, P5

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Date posted: July 17, 2003  

Suggested Citation

Pistor, Katharina and Keinan, Yoram and Kleinheisterkamp, Jan and West, Mark D., Innovation in Corporate Law. Journal of Comparative Economics, Vol. 31, pp. 676-694, 2003. Available at SSRN: http://ssrn.com/abstract=419861 or http://dx.doi.org/10.2139/ssrn.419861

Contact Information

Katharina Pistor (Contact Author)
Columbia University School of Law ( email )
435 West 116th Street
New York, NY 10025
United States
212-854-0068 (Phone)
212-854-7946 (Fax)
Yoram Keinan
Ernst & Young ( email )
1225 Connecticut Ave NW # 700
Washington, DC 20036
United States
Jan Kleinheisterkamp
London School of Economics - Law Department ( email )
Houghton Street
London WC2A 2AE, WC2A 2AE
United Kingdom
+44 20 7955 7256 (Phone)
HOME PAGE: http://www.lse.ac.uk/collections/law/staff/jan-kleinheisterkamp.htm

Cornell University - Law School ( email )
Myron Taylor Hall
Cornell University
Ithaca, NY 14853-4901
United States
Mark D. West
University of Michigan Law School ( email )
625 South State Street
Professor of Law
Ann Arbor, MI 48109-1215
United States
734-647-4041 (Phone)
734-764-8309 (Fax)

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References:  36
Citations:  12

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