Corporate Governance : A North American Perspective

World Bank

Washington, DC

关键词: ACCOUNTABILITY;    ANTITRUST LAW;    ARTICLES OF INCORPORATION;    AUDIT COMMITTEES;    AUTHORITY;   

RP-ID  :  38224

学科分类：社会科学、人文和艺术（综合）

来源: World Bank Open Knowledge Repository

【 摘 要 】

The recent wave of US corporategovernance failures prompted a round of legal and regulatoryreform which has attracted worldwide attention. Theauthor's essay puts the debate into a wider context forthe US. The missing link here is the rights of theshareholders in the US who have comparatively weaker rightsthan shareholders in some other countries, thereby making itdifficult for shareholders to hold boards to account withoutprohibitive cost and effort. The message is that law andregulation must be seen to complement, and to facilitatemarket action, but not to substitute for it. That is avaluable insight from the author who is one of theworld's most experienced and thoughtful corporategovernance practitioners.