Part One: Essays

The German Two-Tier Board (Aufsichtsrat): A German View on Corporate Governance

Klaus J. Hopt, Max Planck Institute, Hamburg

The Cadbury Report, Two Years Later

John C. Shaw, Deputy Governor, Bank of Scotland, Edinburgh

Institutional Investors as Corporate Monitors in the UK

Paul L. Davies, Oxford University

Holding Companies in Belgium

Eddy Wymeersch, Ghent University

The Corporate Governance Debate in Belgium

Francois Vincke, Secretary-General, Petrofina, Brussels

A Note on the Typology of Financial Systems

Erik Berglof, Universite libre de Bruxelles

Path Dependence, Political Options and Governance Systems

Mark J. Roe, Columbia University, New York

Trends in Japanese Corporate Governance

Hideki Kanda, Tokyo University

Corporate Governance and Corporate Performance: A Comparison of Germany, Japan and the U.S.

Steven N. Kaplan, University of Chicago

Part Two: Materials

I. United Kingdom

1. Board of Directors: The Code of Best Practice (Report of the Committee on the Financial Aspects of Corporate Governance, Cadbury Report, London 1992) (pp. 3-4, 6-7, 9-12)

2. Statement of Directors' Responsibility for Preparing the Accounts (Cadbury Report, London 1992) (pp. 66-67)

3. Audit Committees (Cadbury Report, London 1992) (pp. 68-74)

4. Compliance with the Code of Best Practice: Summary of Main Conclusions (Report of the Committee on the Financial Aspects of Corporate Governance, London 1995) (p. 13)

5. The Role and Duties of Directors -- A Statement of Best Practice (Institutional Shareholders' Committee, London 1991)

6. The Responsibilities of Institutional Shareholders in the UK (Institutional Shareholders' Committee, London 1991)

7. Directors' Remuneration: The Code of Best Practice (Greenbury Report, London 1995) (p. 12-18)

II. USA

8. Board Guidelines on Significant Corporate Governance Issues (General Motors, Washington 1995)

9. Corporate Governance Principles (Atlantic Richfield Company, ARCO, Annual Report, Los Angeles 1995)

10. Statement of Governance Principles (California Public Employee Retirement System, CalPERS, Sacramento 1996)

11. Important Elements of Good Corporate Governance (Teachers Insurance and Annuity Association-College Retirement Equities Fund, TIAA-CREF, New York 1993)

III. Canada

12. Corporate Governance Standards (Pension Investment Association of Canada, PIAC, Toronto 1993) (p. 4-6)

13. Guidelines for Improved Corporate Governance in Canada (Report of the Toronto Stock Exchange Committee on Corporate Governance in Canada, Toronto 1994)

IV. France

14. Le Conseil d'Administration des Societes Cotees (Association Francaise des Entreprises Privees, Conseil National du Patronat Francais, Paris 1995)

15. La modernisation du droit des societes (Rapport au Premier ministre, Rapporteur: Marini, Paris 1996)

V. Germany

16. Empfehlen sich gesetzliche Regelungen zur Einschrankung des Einflusses der Kreditinstitute auf Aktiengesellschaften? (Beschlusse des 61. Deutschen Juristentages, Abteilung Wirtschaftsrecht, Karlsruhe 1996)

VI. The Netherlands

17. Recommendations for Corporate Governance (Committee on Corporate Governance, Amsterdam 1996)

VII. Belgium

18. Recommendations pour le bon fonctionnement du Conseil d'administration d'une societe (Federation des Entreprises de Belgique, FEB 1996)