This paper analyses a longitudinal dataset on legal protection of shareholders over a 36 year period, 1970-2005 for four advanced countries, UK, France, Germany and the US. It examines two aspects of the legal origin hypothesis - whether shareholder protection is higher in the common law...

This paper examines from the developing countries perspective important analytical and policy issues arising from: a) the current international discussions about corporate governance in relation to the New International Financial Architecture; b) changes in the international competitive...

We analyze the respective influence of employee and shareholder interests on the dismissal of 89 Chief Financial Officers (CFOs) of major German companies between 1999 and 2006. Drawing on stakeholder-agency theory, we argue that employees wield sufficient power to affect executive replacements....