Corporate Governance and Economic Performance

• Includes local language studies by 'country teams' familiar with the language and corporate culture
• Derives important policy implications for capital market reform in Europe

Readership: Academics and research students in the fields of economics, business studies, and management. Policy makers, stock exchange officials, consultants, and company managers.

Edited by Klaus Gugler, Assistant Professor of Economics, University of Vienna

"This book fills an important gap by providing a wealth of useful insights and references on the complex and previously evasive subject of corporate governance and economic performance." - Professor Thomas Andersson, President of IkED, Sweden

"I have visited all the countries concerned in the cause of corporate governance and I appreciate how valuable I would have found this book at those times. It is well written, clear and up-to-date" - Adrian Cadbury, Business Economist, Vol.32, No.3

"'Corporate Governance and Economic Performance is an important addition to governance literature ... This book fills a gap by addressing primarily the relationship between share ownership and performance and by including countries that are outside the main stream of writing on corporate governance. Corporate Governance and Economic Performance is mine of good information and sound advice which deserves to be well quarried' Sir Adrian Cadbury, The Business Economist."

I. Corporate Governance and Performance: The Research Questions
1: Klaus Gugler: Introduction, Theoretical Framework, and Chapter Contents
2: Klaus Gugler: Direct Monitoring and Profitability: Are Large Shareholders Beneficial?
3: Klaus Gugler: Beneficial Blockholders versus Entrenchment and Rent Extraction?
4: Klaus Gugler: Takeovers and Market for Corporate Control
5: Klaus Gugler: Managerial Compensation
6: Klaus Gugler: The Identity of Owners
II. Country Reports
7: Klaus Gugler: Austria
8: Marc Goergen and Luc Renneboog: Belgium
9: Ekkehart Boehmer: Germany
10: Elizabeth Kremp and Patrick Sevestre: France
11: Magda Bianco: Italy
12: Kyoko Sakuma: Japan
13: Abe de Jong: The Netherlands
14: Rafel Crespi-Cladera: Spain
15: Burcin Yurtoglu: Turkey
16: Marc Goergen and Luc Renneboog: United Kingdom
17: Klaus Gugler: Conclusion and Policy Implications