Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
Posted: 4 Jun 2010
There are 3 versions of this paper
Never Waste a Good Crisis: an Historical Perspective on Comparative Corporate Governance
NBER Working Paper No. w15042
Number of pages: 32
Posted: 08 Jun 2009
Last Revised: 30 Jan 2013
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Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
Posted: 04 Jun 2010
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Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance
Annual Review of Financial Economics, 2009, 1:145-79, University of Alberta School of Business Research Paper No. 2013-238
Posted: 26 May 2013
Last Revised: 04 Jun 2013
Date Written: December 2009
Abstract
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.
Suggested Citation: Suggested Citation
Morck, Randall K. and Yeung, Bernard Yin, Never Waste a Good Crisis: An Historical Perspective on Comparative Corporate Governance (December 2009). Available at SSRN: https://ssrn.com/abstract=1599380 or http://dx.doi.org/10.1146/annurev.financial.050808.114257
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