Scylla or Charybdis? Historical Reflections on Two Basic Problems of Corporate Governance

@article{Lamoreaux2009ScyllaOC,
  title={Scylla or Charybdis? Historical Reflections on Two Basic Problems of Corporate Governance},
  author={N. Lamoreaux},
  journal={Business History Review},
  year={2009},
  volume={83},
  pages={9 - 34}
}
Shareholders in corporations face two very different types of governance problems: expropriation by controlling shareholders or managers; and expropriation by greedy rulers or, more generally, by the state. The problem is that the more successful investors are in protecting their capital from the grabbing hand of the state, the less they are able to call upon the state to protect it from the grabbing hand of corporate insiders. Conversely, the more investors are able to call upon government to… Expand
31 Citations
Path Dependency and Governance in German Family Firms
  • 22
Corporations in the US and Europe 1790–1860
  • 14
The laws of the economy: decriminalizing business transgressions in the late 19th century
  • Highly Influenced
...
1
2
3
4
...

References

SHOWING 1-10 OF 108 REFERENCES
The Political Economy of Corporate Control and Labor Rents
  • 187
  • PDF
...
1
2
3
4
5
...