The State of Corporate Governance Research
Lucian A. Bebchuk
Harvard Law School; National Bureau of Economic Research (NBER); Centre for Economic Policy Research (CEPR) and European Corporate Governance Institute (ECGI)
Michael S. Weisbach
Ohio State University (OSU) - Department of Finance; National Bureau of Economic Research (NBER)
November 17, 2009
Review of Financial Studies, Vol. 23. No. 3, pp. 939-961, 2010.
Fisher College of Business Working Paper No. 2009-03-20
Charles A. Dice WP 2009-21
Harvard Law and Economics Discussion Paper No. 652
This paper, which introduces the special issue on corporate governance co-sponsored by the Review of Financial Studies and the National Bureau of Economic Research (NBER), reviews and comments on the state of corporate governance research. The special issue feature seven papers on corporate governance that were presented in a meeting of the NBER‘s corporate governance project. Each of the papers represents state-of-the-art research in an important area of corporate governance research. For each of these areas, we discuss the importance of the area and the questions it focuses on, how the paper in the special issue makes a significant contribution to this area, and what we do and do not know about the area. We discuss in turn work on shareholders and shareholder activism, directors, executives and their compensation, controlling shareholders, comparative corporate governance, cross-border investments in global capital markets, and the political economy of corporate governance.
Number of Pages in PDF File: 39
Keywords: corporate governance, investor protection, shareholders, shareholder activism
JEL Classification: G34
Date posted: November 21, 2009 ; Last revised: September 27, 2010