Regulation and Comparative Corporate Governance

M. Wright, D. S. Siegel, K. Keasey, and I. Filatotchev (eds.) Handbook of Corporate Governance, Oxford: Oxford University Press, Forthcoming

44 Pages Posted: 1 Jun 2012

See all articles by Ruth V. Aguilera

Ruth V. Aguilera

Northeastern University - Department of International Business and Strategy

Michel Goyer

Birmingham Business School

Luiz Ricardo Kabbach-Castro

Universidade de São Paulo (USP); Universidad de Navarra

Date Written: February 9, 2012

Abstract

This chapter discusses how regulation affects corporate governance from a broad perspective. First, we present the two main theoretical perspectives on regulation, namely principal-agent and governance. These two perspectives provide interesting insights for the study of regulation in corporate governance but remain incomplete to account for the presence of significant divergence in regulatory mechanism between national systems of corporate governance. We then examine the two main perspectives in studying regulation in corporate governance, namely law and economics, and politics. Third, we explore how regulation has different impacts on corporate governance practices across national systems of corporate governance through an incorporation of the concept of contexts. We conclude with a discussion of hard and soft law and its consequences for effectiveness in corporate governance around the world.

Keywords: corporate governance, regulation, comparative corporate governance

Suggested Citation

Aguilera, Ruth V. and Goyer, Michel and Kabbach-Castro, Luiz Ricardo, Regulation and Comparative Corporate Governance (February 9, 2012). M. Wright, D. S. Siegel, K. Keasey, and I. Filatotchev (eds.) Handbook of Corporate Governance, Oxford: Oxford University Press, Forthcoming, Available at SSRN: https://ssrn.com/abstract=2071191

Ruth V. Aguilera

Northeastern University - Department of International Business and Strategy ( email )

Boston, MA 02115
United States

Michel Goyer

Birmingham Business School ( email )

Edgbaston Park Road
Birmingham, B15 2TY
United Kingdom

Luiz Ricardo Kabbach-Castro (Contact Author)

Universidade de São Paulo (USP) ( email )

Brazil
+551633738642 (Phone)
+551633739425 (Fax)

HOME PAGE: http://www.ceef.prod.eesc.usp.br

Universidad de Navarra ( email )

Campus Universitario
Pamplona, Navarra 31009
Spain
683623704 (Phone)

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