Acknowledgements

Introduction

Kevin Keasey

Steve Thompson

Mike Wright

PART I DIFFERING PERSPECTIVES ON CORPORATE GOVERNANCE FRAMEWORKS I - ECONOMIC, FINANCE, LEGAL, ETC.

`Authority and Responsibility', in The Limits of Organization, Chapter 4, New York and London: W.W. Norton & Company, 63-79

Kenneth J. Arrow

`A Survey of Corporate Governance', Journal of Finance, LII (2), June, 737-83

Andrei Shleifer

Robert W. Vishny

`Organizations and Markets', Journal of Economic Perspectives, 5 (2), Spring, 25-44

Herbert A. Simon

`Preface', `Introduction', `Diffuse Ownership as Natural Economic Evolution', `Fragmentation's Costs', `Diffuse Ownership as Political Product', `A Political Theory' and `Conclusion', in Strong Managers, Weak Owners: The Political Roots of American Corporate Finance, Chapter 1-4, Princeton, New Jersey: Princeton University Press, vii-xii, xiii-xvi, 3-8, 9-17, 21-25, 26-49, 283-87

Mark J. Roe

PART II DIFFERING PERSPECTIVES ON CORPORATE GOVERNANCE FRAMEWORKS II - EXIT, VOICE, STAKEHOLDERS, ETC.

`Exit', `Voice' and `The Elusive Optimal Mix of Exit and Voice', in Exit, Voice, and Loyalty: Responses to Decline in Firms, Organizations, and States, Chapters 2, 3 and 9 and Appendices A and B, Cambridge, Massachusetts and London: Harvard University Press, 21-29, 30-43, 120-26, 129-37, 144

Albert O. Hirschman

`The Modern Industrial Revolution, Exit, and the Failure of Internal Control Systems', Journal of Finance, XLVIII (3), July, 831-80

Michael C. Jensen

`Corporate Governance: Some Theory and Implications', Economic Journal, 105, May, 678-89

Oliver Hart

`Instrumental Stakeholder Theory: A Synthesis of Ethics and Economics', Academy of Management Review, 20 (2), April, 404-37

Thomas M. Jones

`Corporate Governance', National Institute Economic Review, 3/95, Number 153, August, 84-97

John Kay

Aubrey Silberston

PART III GOVERNANCE, STRATEGY AND ENTERPRISE

`External Control, Corporate Strategy, and Firm Performance in Research-Intensive Industries', Strategic Management Journal, 9, 577-90

Charles W.L. Hill

Scott A. Snell

`Effects of Board and Ownership Structure on Corporate R&D Strategy', Academy of Management Journal, 34 (1), March, 205-14

Barry D. Baysinger

Rita D. Kosnik

Thomas A. Turk

`Governance, Ownership, and Corporate Entrepreneurship: The Moderating Impact of Industry Technological Opportunities', Academy of Management Journal, 39 (6), December, 1713-35

Shaker A. Zahra

Name Index

Acknowledgements

An Introduction by the editors to all four volumes appears in Volume I

PART I EQUITY OWNERSHIP STRUCTURE AND CONTROL

`The Evolution of Control', `The Divergence of Interest Between Ownership and Control' and `The New Concept of the Corporation', in The Modern Corporation and Private Property, Book 1, Chapters V and VI, Book 4, Chapter IV and Appendices O and P, New York: Harcourt, Brace & World, Inc., 66-111, 112-16, 309-13, 341-2

Adolf A. Berle

Gardiner C. Means

`The Effect of Shareholding Dispersion on the Degree of Control in British Companies: Theory and Measurement', Economic Journal, 93, June, 351-69

John Cubbin

Dennis Leech

`Separation of Ownership and Control', Journal of Law and Economics, XXVI (2), June, 301-25

Eugene F. Fama

Michael C. Jensen

`The Structure of Corporate Ownership: Causes and Consequences', Journal of Political Economy, 93 (6), 1155-77

Harold Demsetz

Kenneth Lehn

`The Structure of Voting Rights in a Public Company', in Firms, Contracts, and Financial Structure, Chapter 8, Oxford: Oxford University Press, 186-209, references

Oliver Hart

PART II THE ROLE OF CAPITAL STRUCTURE

`Theory of the Firm: Managerial Behavior, Agency Costs and Ownership Structure', Journal of Financial Economics, 3, 305-60

Michael C. Jensen

William H. Meckling

`Corporate Financial Structure and Managerial Incentives', in John J. McCall (ed.), The Economics of Information and Uncertainty, Chicago and London: University of Chicago Press, 107-37

Sanford J. Grossman

Oliver D. Hart

`Capital Structure as a Mechanism of Control: a Comparison of Financial Systems', in Masahiko Aoki, Bo Gustafsson and Oliver E. Williamson (eds), The Firm as a Nexus of Treaties, Part IV, Chapter 11, London: Sage Publications, 237-62

Erik Berglof

`The Theory of Capital Structure', Journal of Finance, XLVI (1), March, 297-355

Milton Harris

Artur Raviv

`Corporate Finance and Corporate Governance', Journal of Finance, XLIII (3), July, 567-91

Oliver E. Williamson

`Corporate Governance and Commercial Banking: A Comparative Examination of Germany, Japan, and the United States', Stanford Law Review, 48 (1), November, 73-112

Jonathan R. Macey

Geoffrey P. Miller

PART III THE ROLE OF INSTITUTIONAL SHAREHOLDERS

`Proxy Contests and the Efficiency of Shareholder Oversight', Journal of Financial Economics, 20, 237-65

John Pound

`Liquidity Versus Control: The Institutional Investor as Corporate Monitor', Columbia Law Review, 91 (6), October, 1277-368

John C. Coffee, Jr.

`Institutional Investment Patterns and Corporate Financial Behavior in the United States and Japan', Journal of Financial Economics, 27, 43-66

Stephen D. Prowse

`Hail Britannia?: Institutional Investor Behavior Under Limited Regulation', Michigan Law Review, 92 (7), June, 1997-2087

Bernard S. Black

John C. Coffee, Jr.

`Institutional Shareholders and Corporate Governance in the United Kingdom', in Kevin Keasey, Steve Thompson and Mike Wright (eds), Corporate Governance: Economic and Financial Issues, Chapter 2, Oxford: Oxford University Press, 18-53

Helen Short

Kevin Keasey

Name Index

Acknowledgements

An Introduction by the editors to all four volumes appears in Volume I

PART I BOARD STRUCTURE, PROCESSES AND NON-EXECUTIVE DIRECTORS

`Agency Problems and the Theory of the Firm', Journal of Political Economy, 88 (2), April, 288-307

Eugene F. Fama

`Director Reputation, CEO-Board Power, and the Dynamics of Board Interlocks', Administrative Science Quarterly, 41, 507-29

Edward J. Zajac

James D. Westphal

`The Composition of Boards of Directors and Strategic Control: Effects on Corporate Strategy', Academy of Management Review, 15 (1), 72-87

Barry Baysinger

Robert E. Hoskisson

`Boards of Directors and Substitution Effects of Alteranative Governance Mechanisms', Strategic Management Journal, 16 (2), February, 85-99

Kenneth J. Rediker

Anju Seth

`Power and Influence in and Around the Boardroom', Human Relations, 48 (8), August, 845-73

Andrew Pettigrew

Terry McNulty

`Remuneration Committees and Corporate Governance', Accounting and Business Research, 23 (91A), Corporate Governance Special Issue, 351-62

Brian G.M. Main

James Johnston

PART II DIRECTORS' REMUNERATION

`Compensation and Incentives: Practice vs. Theory', Journal of Finance, XLIII (3), July, 593-616

George P. Baker

Michael C. Jensen

Kevin J. Murphy

`Executive Compensation: Issues and Research', Journal of Accounting Literature, 12, 131-89

Ellen L. Pavlik

Thomas W. Scott

Peter Tiessen

`Corporate Performance and Managerial Remuneration: An Empirical Analysis', Journal of Accounting and Economics, 7 (1-3), April, 11-42

Kevin J. Murphy

`Performance Pay and Top-Management Incentives', Journal of Political Economy, 98 (2), April, 225-64

Michael C. Jensen

Kevin J. Murphy

`Total Board Remuneration and Company Performance', Economic Journal, 106, November, 1627-44

Brian G.M. Main

Alistair Bruce

Trevor Buck

`Taking Care of Business: Executive Compensation in the United Kingdom', Economic Journal, 105, May, 704-14

Martin Conyon

Paul Gregg

Stephen Machin

PART III CORPORATE STRUCTURES AND INTERNAL GOVERNANCE

`The Nature of the Firm', Economica (New Series), IV (13-16), 386-405

R.H. Coase

`Production, Information Costs, and Economic Organization', American Economic Review, LXII (5), December, 777-95

Armen A. Alchian

Harold Demsetz

`Markets, Bureaucracies, and Clans', Administrative Science Quarterly, 25, March, 129-41

William G. Ouchi

`Vertical Integration, Appropriable Rents, and the Competitive Contracting Process', Journal of Law and Economics, XXI (2), October, 297-326

Benjamin Klein

Robert G. Crawford

Armen A. Alchian

`The Multidivisional Structure: Organizational Fossil or Source of Value?', Journal of Management, 19 (2), 269-98

Robert E. Hoskisson

Charles W.L. Hill

Hicheon Kim

`Internal Organization and Profit: A Note', Journal of Industrial Economics, XXX (2), December, 201-11

R.S. Thompson

`Internal Organisation, Business Groups and Corporate Performance: An Empirical Test of the Multidivisional Hypothesis in Japan', International Journal of Industrial Organization, 3 (4), December, 401-20

John Cable

Hirohiko Yasuki

`Understanding the Japanese Keiretsu: Overlaps Between Corporate Governance and Industrial Organization', Yale Law Journal, 102 (4), January, 871-906

Ronald J. Gilson

Mark J. Roe

PART IV GOVERNANCE OF CROSS-NATIONAL CORPORATIONS

`A Long-run Theory of the Multinational Enterprise', in The Future of the Multinational Enterprise, 2nd edition, Chapter 2, London: Macmillan Press Ltd, 32-65

Peter J. Buckley

Mark Casson

`What Is Internalization?', Weltwirtschaftliches Archiv, 122, 791-804

Jean-Francois Hennart

`The Eclectic Paradigm of International Production: A Restatement and Some Possible Extensions', Journal of International Business Studies, Spring, 1-31

John H. Dunning

`Transactions Cost Economics and the Multinational Enterprise: An Assessment', Journal of Economic Behavior and Organization, 7 (1), March, 21-45

David J. Teece

Name Index

Acknowledgements

An Introduction by the editors to all four volumes appears in Volume I

PART I THE ROLE OF FINANCIAL DISCLOSURE AND AUDITING

`An Analysis of the Role of Accounting Standards for Enhancing Corporate Governance and Social Responsibility', Journal of Accounting and Public Policy, 1 (1), Fall, 5-17

George J. Benston

`Corporate Governance and the Regulation of Financial Reporting', Accounting and Business Research, 23 (91A), 311-19

Geoffrey Whittington

`Corporate Governance and Disclosure Quality', Accounting and Business Research, 22 (86), Spring, 111-24

John J. Forker

`Accounting Measurement Rules in UK Bank Loan Contracts', Accounting and Business Research, 23 (89), Winter, 21-30

David B. Citron

`The Genesis of Accountability: The West Point Connections', Accounting, Organizations and Society, 13 (1), 37-73

Keith W. Hoskin

Richard H. Macve

PART II The Role of the Market for Corporate Control

`Mergers and the Market for Corporate Control', Journal of Political Economy, LXXIII, February-December, 110-20

Henry G. Manne

`Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation', Bell Journal of Economics, 11 (1), Spring, 42-64

Sanford J. Grossman

Oliver D. Hart

`Agency Costs of Free Cash Flow, Corporate Finance, and Takeovers', American Economic Review, 76 (2), May, 323-9

Michael C. Jensen

`Mergers, Takeovers, and Economic Efficiency: Foresight vs. Hindsight', International Journal of Industrial Organization, 7, 151-74

Richard E. Caves

`Capital Markets and Corporate Control: A Study of France, Germany and the UK', Economic Policy, 10, 191-231

Julian Franks

Colin Mayer

`The Hidden Costs of Stock Market Liquidity', Journal of Financial Economics, 34, 31-51

Amar Bhide

PART III GOVERNANCE ASPECTS OF CORPORATE RESTRUCTURING

`Antecedents and Outcomes of Corporate Refocusing', Journal of Management, Yearly Review of Management, A Special Issue, 22 (3), 439-83

Richard A. Johnson

`Reversing Corporate Diversification', Journal of Applied Corporate Finance, 3 (2), Summer, 70-81

Amar Bhide

`Corporate Divestiture Intensity in Restructuring Firms: Effects of Governance, Strategy, and Performance', Academy of Management Journal, 37 (5), October, 1207-51

Robert E. Hoskisson

Richard A. Johnson

Douglas D. Moesel

`The Make-Buy Decision and Managing Markets: The Case of Management Buy-Outs', Journal of Management Studies, 23 (4), July, 443-64

Mike Wright

PART IV CORPORATE AND FUNDING CROSS-HOLDINGS

`Some Differences in Corporate Structure in Germany, Japan, and the United States', Yale Law Journal, 102 (8), June, 1927-2003

Mark J. Roe

`Industrial Groups as Systems of Contractual Governance', Oxford Review of Economic Policy, 8 (3), Autumn, 24-44

W. Carl Kester

PART V EMPLOYEE INVOLVEMENT

`Union Nominees on the Board', in Unions on the Board: An Experiment in Industrial Democracy, Chapter 4, Oxford: Basil Blackwell Publishers for Economic and Social Research Council, 74-96, references

Eric Batstone

Anthony Ferner

Michael Terry

`Germany', in Keeping Good Company: A Study of Corporate Governance in Five Countries, Chapter 2 and Appendix 2A, Oxford and New York: Oxford University Press, 6-58, 59-60, references

Jonathan P. Charkham

`Productivity Effects of Worker Participation in Management, Profit-Sharing, Worker Ownership of Assets and Unionization in U.S. Firms', International Journal of Industrial Organization, 6 (1), March, 139-51

Michael A. Conte

Jan Svejnar

`The Productivity Effects of Employee Stock-Ownership Plans and Bonuses: Evidence from Japanese Panel Data', American Economic Review, 85 (3), June, 391-414

Derek C. Jones

Takao Kato

PART VI GOVERNANCE IN THE PUBLIC SECTOR, MUTUALITY AND PRIVATIZATIONS

`Privatisation: A Policy in Search of a Rationale', Economic Journal, 96, March, 18-32

J.A. Kay

D.J. Thompson

`Privatizing Russia', Brookings Papers on Economic Activity, 2, 139-92

Maxim Boycko

Andrei Shleifer

Robert W. Vishny

`Transforming Frameworks of Accountability: The Case of Water Privatization', Accounting, Organizations and Society, 20 (2/3), February/April, 193-218

S.G. Ogden

`Corporate Governance and the Public Sector: Some Issues and Evidence from the NHS', Public Administration, 73, Autumn, 375-92

Ewan Ferlie

Lynn Ashburner

Louise Fitzgerald

`The Economics of Mutuality', Annals of Public and Cooperative Economics, 62 (3), July-September, 309-18

John Kay

Name Index