Uses and Limits of Conventional Corporate Governance Instruments: Analysis and Guidance for Reform (Part One)
Private Sector Opinion, No. 14, Global Corporate Governance Forum, June 2009
28 Pages Posted: 16 Aug 2009
Date Written: June 2009
This is the first half of a two-part Private Sector Opinion published by the Global Corporate Governance Forum of the World Bank Group. Part One, the essay herein, examines the uses and limits of five conventional corporate governance instruments - transparency, independent monitoring, economic alignment, shareholder rights, and financial liability - and suggests ways to improve their application. Part Two, published in August 2009, recommends how policymakers should approach corporate governance reform generally, with a view toward strengthening the effectiveness of conventional corporate governance instruments.
The integrated version of this article is available at http://ssrn.com/abstract=1409370.
Keywords: corporate governance reform, transparency, board of directors, executive pay, shareholder rights, financial liability, conflicts of interest, unintended consequences, comparative
JEL Classification: G34, G38
Suggested Citation: Suggested Citation
Register to save articles to
By Peipei Li
By Jack Knott