Ownership and Control: Rethinking Corporate Governance for the Twenty-First Century / Edition 1

Ownership and Control: Rethinking Corporate Governance for the Twenty-First Century / Edition 1

by Margaret M. Blair
     
 

ISBN-10: 0815709471

ISBN-13: 9780815709473

Pub. Date: 06/01/1995

Publisher: Brookings Institution Press

Who should be allowed to call the shots in the boardrooms of U. S. Corporations? And what difference does it make for their growth and profitability? In the last decade, these issues have moved to the center of policy debates about the time horizons and competitiveness of U.S. companies. This book is an indispensable guide through the historical, legal, and

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Overview

Who should be allowed to call the shots in the boardrooms of U. S. Corporations? And what difference does it make for their growth and profitability? In the last decade, these issues have moved to the center of policy debates about the time horizons and competitiveness of U.S. companies. This book is an indispensable guide through the historical, legal, and institutional background for these corporate governance debates. It explains three broad views on the relationship among the governance, performance, and competitiveness of corporations, and examines the intellectual history, politics, and empirical evidence behind each argument. It also considers the effect that two trends will have on corporate governance: the growth and power of public employees' pension funds and the increase in the economic activity that comes from specialized services and customized production.

Blair asserts that companies need to experiment with different governance arrangements, such as choosing directors to represent particular constituencies, or making more radical arrangements like leveraged buyouts or worker-owned companies. Public policy should encourage, or at least not impede, such experimentation.

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Product Details

ISBN-13:
9780815709473
Publisher:
Brookings Institution Press
Publication date:
06/01/1995
Edition description:
New Edition
Pages:
384
Product dimensions:
6.00(w) x 9.00(h) x 0.85(d)

Table of Contents

1Introduction1
2A Primer on Corporate Governance17
3A Finance Perspective on What's Wrong with the System94
4Are Financial Markets Too Short-Sighted?122
5Can Institutional Investors Fix the Governance System?145
6Whose Interests Should Corporations Serve?202
7Toward a New View of Goals and Governance in the Corporate Sector235
8Governance Structures Designed for Total Wealth Creation275
9Policy Conclusions and Recommendations323
References341
Index361

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