Contractual Change and Self-Enforcing Governance


Book Description

This paper focuses on firm restructuring in transition countries. We suggest mechanisms of governance change that can lead to self-reinforcing contracts. The urn-function model, by linking history, policy, and the relative governance share in a business sector, seeks to support the explanation of the stability of large-scale agriculture. Applied to agricultural restructuring, network externalities in governance structures and increasing transactional returns resulting socialist farming may cause the stability of large-scale farm organizations during transition, even though family farming is often expected to be more efficient according to transaction costs arguments. Some empirical evidence comes from the Czech case of post-socialist transition. Finally we try to draw out the lessons for a possible transition on the Korean peninsula.




The Oxford Handbook of Corporate Law and Governance


Book Description

Corporate law and corporate governance have been at the forefront of regulatory activities across the world for several decades now, and are subject to increasing public attention following the Global Financial Crisis of 2008. The Oxford Handbook of Corporate Law and Governance provides the global framework necessary to understand the aims and methods of legal research in this field. Written by leading scholars from around the world, the Handbook contains a rich variety of chapters that provide a comparative and functional overview of corporate governance. It opens with the central theoretical approaches and methodologies in corporate law scholarship in Part I, before examining core substantive topics in corporate law, including shareholder rights, takeovers and restructuring, and minority rights in Part II. Part III focuses on new challenges in the field, including conflicts between Western and Asian corporate governance environments, the rise of foreign ownership, and emerging markets. Enforcement issues are covered in Part IV, and Part V takes a broader approach, examining those areas of law and finance that are interwoven with corporate governance, including insolvency, taxation, and securities law as well as financial regulation. The Handbook is a comprehensive, interdisciplinary resource placing corporate law and governance in its wider context, and is essential reading for scholars, practitioners, and policymakers in the field.




Basic Guide to the National Labor Relations Act


Book Description




Demystifying the Chinese Miracle


Book Description

The last three decades has witnessed miraculous economic growth of China. What has accounted for its miracle? What is the nature and future of the Chinese model? Is it unique? This book presents an analytical framework to demystify China's economic growth miracle. The book suggests that interlinked and relational contracts between the agents (in particular, between the state and the business) can compensate for flawed markets to achieve high growth. This kind of relational capitalism is significant in the investment-based stage of development, when mobilization of resources to exploit the existing technologies is key for growth. The book presents a general theory of interlinked relational contract, the workhorse model of the book. The theory highlights that effective governance is a function of market extent and market completeness. The process of economic development and modernization can be looked at fruitfully from two perspectives: the markets and the institutions and their interactions. The book stresses the critical fit between the development stage and the governance for a country's economic transition and development and thus the idea of "appropriate institutions".




Hierarchies, Relational Contracts and New Forms of Outsourcing


Book Description

We observe that economic restructuring is significantly changing organizational governance. On the one hand, we witness an increase in mergers amp; acquisitions, which substitutes markets for hierarchies and, on the other hand, we see an increase in outsourcing and subcontracting activities, appearing to replace hierarchies by markets. However, there is evidence that an increasing part of outsourcing activities mix hierarchies with market forms of governance. The key argument of this paper is that firms have established governance structures based on markets, hierarchies and self-enforcing relational contracts so that they are able to keep a substantial amount of control despite of sourcing out labour. Furthermore, we argue that such hierarchical forms of outsourcing produce dependency. Using empirical evidence of the Austrian insurance industry, it is demonstrated that dependency is created, firstly, by the contractual restriction of alternative uses of resources, secondly, by support measures that bind the upstream party closely to the downstream party, thirdly, by relationship-specific investments made by the upstream party, and fourthly, by authority elements.




Handbook of Research on Entrepreneurship and Conflict


Book Description

This Handbook focuses on the complex relationship between entrepreneurship and conflict. Editors Wim Naudé and Bernadette Power construct a broad overview of central research themes in the field, covering states being captured by entrepreneurs, states capturing businesses, entrepreneurship in post-conflict reconstruction, and entrepreneurs in conflict against other entrepreneurs.




Managing Contract Changes


Book Description

Managing Contract Changes by Gregory Garrett provides important information,tools, and best practices that show you how to effectively deal with contractchanges and avoid the pitfalls.




The Political Economy of Public Sector Governance


Book Description

In The Political Economy of Public Sector Governance, Anthony Michael Bertelli introduces core ideas in positive political theory as they apply to public management and policy. Though recent literature that mathematically models relationships between politicians and public managers provides insight into contemporary public administration, the technical way these works present information limits their appeal. This book helps readers understand public-sector governance arrangements and the implications these arrangements have for public management practice and policy outcomes by presenting information in a non-technical way.




Organising the Firm


Book Description

The theoretical basis of commercial law, corporate governance law, and corporate law is still unsatisfactory. There essentially is no theory of commercial law, and existing theories of corporate governance and corporate law cannot explain the behaviour of firms or the contents of existing regulation. This book proposes a coordinated solution for all three areas. The starting point is that all three areas deal with the organisation of firms. Commercial law, corporate governance, and corporate law are therefore studied from the perspective of the firm rather than that of the judge or the investor. Changing the perspective makes it easier to formulate an "umbrella" theory of commercial law, and theories of corporate governance and corporate law as applications of the main theory. The book provides examples of how the proposed theories work by studying legal corporate governance tools and practices that increase the sustainability of the firm. Sustainability can be bolstered by making the governance model more self-enforcing and ensuring that it fosters innovation.




Conflict and Governance


Book Description

Conflict appears in many forms, from a dictator terrorizing his country to organized crime demanding protection money. Questions and issues addressed in this text include: the conditions which make conflict severe; whether voluntary agreements can avoid future conflict; how the outcome of one war will affect the incentives of countries to wage war in the future; and how dictators hold power. The book provides an overview of existing literature, applies the theory of conflict to new situations, and gives foundations for future work. It should interest both researchers and students studying political economy, public choice, international relations, and comparative politics.