Publication: Corporate Governance : A North American Perspective
Date
2006-05
ISSN
Published
2006-05
Author(s)
World Bank
Abstract
The recent wave of US corporate
governance failures prompted a round of legal and regulatory
reform which has attracted worldwide attention. The
author's essay puts the debate into a wider context for
the US. The missing link here is the rights of the
shareholders in the US who have comparatively weaker rights
than shareholders in some other countries, thereby making it
difficult for shareholders to hold boards to account without
prohibitive cost and effort. The message is that law and
regulation must be seen to complement, and to facilitate
market action, but not to substitute for it. That is a
valuable insight from the author who is one of the
world's most experienced and thoughtful corporate
governance practitioners.
Citation
“World Bank. 2006. Corporate Governance : A North American Perspective. Private Sector Opinion; No. 3. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/368af0b7-4564-5424-8071-15cf63c52cff License: CC BY-NC-ND 3.0 IGO.”