TY  - JOUR
AU  - Morck, Randall K
AU  - Steier, Lloyd
TI  - The Global History of Corporate Governance: An Introduction
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 11062
PY  - 2005
Y2  - January 2005
DO  - 10.3386/w11062
UR  - http://www.nber.org/papers/w11062
L1  - http://www.nber.org/papers/w11062.pdf
N1  - Author contact info:
Randall Morck
Faculty of Business
University of Alberta
Edmonton, AB T6G 2R6
CANADA
Tel: 780/492-5683
Fax: 780/492-3325
E-Mail: randall.morck@ualberta.ca

Lloyd Steier
University of Alberta, Business School
Edmonton Alberta
CANADA T6G 2R6
E-Mail: lloyd.steier@ualberta.ca
M1  - published as Randall Morck, Lloyd Steier. "The Global History of Corporate Governance: An Introduction," in Randall K. Morck, editor, "A History of Corporate Governance around the World: Family Business Groups to Professional Managers" University of Chicago Press (2005)

AB  - This paper presents a synopsis of recent NBER studies of the history of corporate governance in Canada, China, France, Germany, Japan, India, Italy, the Netherlands, Sweden, the United Kingdom, and the United States. Together, the studies underscore the importance of path dependence, often as far back into preindustrial period; legal system origin, though in a more nuanced form than mere statutory shareholder rights; and wealthy families. They also clarify the roles of ideologies, business groups, trust, institutional transplants, and politics in institutional evolution and financial development. Other themes are the universality of business insiders' investments in, entrenchment, and a possible behavioral basis for this.
ER  -