Book Description

'Judging by the academic post-mortems, the 2008 economic collapse was triggered by a financial sector gone wild. But the collapse was also made possible by defects in corporate governance. At last, this volume offers a serious investigation into the role corporate governance played in getting the world into that mess and can play in getting it out. Offering diverse perspectives from some of the world's preeminent corporate scholars, the volume deserves a place on the desk of anyone seeking to understand the collapse and how to avoid the next one.' Kent Greenfield, Boston College Law School, US 'This excellent collection from a highly distinguished group of scholars focuses on three intertwined and overlapping "aftermaths", the pressing concerns of corporate governance reform arising out of the financial crisis since 2008, the state of corporate governance reform since the spectacular failures of Enron, Worldcom and others, and, finally, the prospects of what since the early 1980s has been a global debate over the convergence and divergence of corporate law debates. Drawing on numerous country studies, this book greatly advances our understanding of where corporate governance reform is headed.' Peer Zumbansen, York University, Canada 'This volume addresses a range of important issues that were relevant before the global financial crisis and have, in many ways, become more so since the crisis. The book contains the work of a number of renowned commentators who have given the issues considered in the book much thought over an appreciable period of time. This volume is one that all scholars interested in corporate governance, no matter what their academic discipline is, would be interested in reading. I am eagerly awaiting its publication.' Andrew Keay, University of Leeds, UK 'The governance needle now swings to and fro like a windscreen wiper, no longer fast upon the goal of shareholder primacy and wealth maximization. "The aim of this volume is to introduce the new ideas animating. . . governance in the post-financial crisis world". This book does a superb job of accomplishing that objective. Probing discussions of sustainability, stakeholder models, globalization, ethical behavior, soft law, independent directors, and family capitalism coalesce around the antipode toward which the windscreen wiper increasingly swings, and not which "may be" but will be "the shape of things to come".' Douglas M. Branson, University of Pittsburgh, US The financial crisis of 200809 raises questions about the assumptions that underpin corporate governance. Shareholder value and private ordering may not in fact be the best means of promoting efficiency and corporate responsibility and the mechanisms used to ensure management accountability may not be effective. In this fascinating study, experts from around the world draw on the experience of the financial crisis to explore topical issues ranging from shareholder primacy and the corporate objective to the stakeholder principle, business ethics, and globalization of corporate governance principles. The chapters are provocative, acknowledging that our understanding of fundamental questions of corporate governance is still developing and demonstrating that the corporate governance debate is far from over. This informative book will appeal to researchers in corporate governance and corporate law including graduate students, policymakers, lawyers, accountants, and management consultants. Chambers of commerce and trade associations will also find much to interest them in this book.