Corporate Governance in the U.S.

This book explores a series of questions about the differences in the capital markets in Japan, Germany and the United States, and contains empirical and comparative studies from the three countries.

This new collection of essays by an international group of lawyers and social scientists examines the pattern of regulation now being put in place to cope with the major transformation in the territorial organization of economic activity and of political power. The essays address the question of how legal institutions will emerge to mediate the dynamic of the new international marketplace; the technical problem of selecting the appropriate level of government for economic regulation; and the concern that the global economy's operation outside of the control of national regulation will, absent of developed international legal institutions, frustrate the democratic process.

Drawing from the collective experience of twenty-five years of research, writing, and teaching in the field, Epstein and Birchard present a new approach to managing corporate accountability, as a function of four essential and interlocking drivers: governance, performance measurement, control systems, and reporting. They identify where and how companies fail in meeting requirements of these four cornerstones, and then build a powerful framework for managers at all levels to improve decision making, clarify and communicate strategy, accelerate feedback and learning, and secure stakeholder loyalty.

Corporations are the productive engine of market economies. Yet the rules by which the wealth generated by corporations gets divided between the providers of financial capital and the providers of human capital are poorly understood. In this colloquium, a group of economists, social scientists, lawyers, labor relations specialists, business executives, and executives of financial institutions debate questions about the allocation of risks, returns, and rights in corporations that were raised in Margaret Blair's prior book, Ownership and Control: Rethinking Corporate Governance for the Twenty-First Century (Brookings, 1995). In addition to Margaret Blair, participants include Bernard Aidinoff, Amatai Etzioni, Ronald Gilson, Martin Ginsburg, Mark Goyder, Oliver Hart, Bruce Householder, Tony Jackson, Bevis Longstreth, Jonathan Low, Bruce MacLaury, Ira Millstein, Nell Minow, Charles Rossotti, Charles Schultze, Kenneth West, and Sidney Winter. Roswell Perkins, of the New York law firm of Debevoise & Plimpton, served as moderator.