Corporate Governance and Capital Flows in Global Economy

"This book is an important contribution to the analysis of the current corporate governance risks and challenges, with a particular emphasis on the contribution corporate governance can make to the development of emerging markets. The quality of the authors, the depth of their analyses, and their wide scope make it a must-read for all who take an interest in the current corporate governance debate."--Jaap Winter, Chairman, High Level Group of Company Law Experts, European Commission and Professor of International Company Law, Erasmus University of Rotterdam

• Foreword Patrick T. Harker and Gabriel Hawawini: Foreword Klaus Schwab: Contributors 1 Introduction: Peter K. Cornelius and Bruce Kogut: Corporate Governance and Capital Flows in a Global Economy Part I: Current and Emerging Challenges in Corporate Governance Enron and Its Aftermath 2 What Caused Enron?: John C. Coffee, Jr.: A Capsule of Social and Economic History of the 1990's 3 Chareholder Value, Corporate Governance, and Corporate Performance: Margaret M. Blair: A Post-Enron Reassessment of the Conventional Wisdom 4 The Bubble and the Media: Alexander Dyck and Luigi Zingales: Expanding the Purview of Governance: Employees and Early Investors 5 Employees and Corporate Governance: Mary O'Sullivan: 6 Venture Capital and Corporate Governance: Franklin Allen and Wei-ling Song: Part II: Corporate Governance, Economic Development, and Cross-Border Capital Flows Capital Flows and Multinational Corporations 7 Prospects for Emerging-Market Flows Amid Investor Concerns About Corporate Governance: Helmut Reisen: 8 Direct Investment and Corporate Governance: Will Multinational Corporations "Tip" Countries Toward Institutional Change?: Bruce Kogut and J. Muir Macpherson: 9 Corporate Risk Assessment and Business Strategy: Withold J. Henisz and Jonathan Story: A Prime Task for Senior Management Role of Foreign Banks in Governance 10 Foreign Bank Ownership and Corporate Governance in Emerging-Market Economies: Peter K. Cornelius: 11 Emerging Owners, Eclipsing Markets?: Erik Berglöf and Anete Pajuste: Corporate Governance in Central and Eastern Europe Law and Governance 12 Corporate Governance and Private Capital Flows to Latin America: Alberto Chong, Alejandro Izquierdo, Alejando Micco, and Ugo Panizza: 13 Institutions, Corporate Governance and amd Crises: Daron Acemoglu and Simon Johnson: 14 Of Legal Transplants, Legal Irritants, and Economic Development: Katharina Pistor and Daniel Berkowitz: Part III: Investors' and Practitioners' Perspectives Governance Seen by the Minority Shareholder 15 Portfolio Investment in Emerging Markets: Michael J. Johnston: An Investor's Perspective 16 Corporate Governance, Public Policy, and Private Investment Decisions, 2002: William Dale Crist: 17 Corporate Governance: Mark Mobius: Responsibilities of Fund Managers and Institutional Investors 18 Corporate Governance and Private Equity Investments: Max Burger-Calderon, Philipp Gusinde, and Stefan Hoffman Corporate Governance in Transition: China, Russia, and Poland 19 Corporate Governance in Mainland China: Anthony Neoh: Where Do We Go from Here? 20 Governance in an Emerging Financial Market: Igor Kostikov: The Case of Russia Governance in an Emerging Financial Market: Wieslaw Rozlucki: The Case of Poland Social Corporate Responsibility and the New Learning 22 Corporate Values, Enterprise Risk, and the Board: Michael J. Philips: 23 Redefining the Role and Content of Corporate Governance from the Perspective of Business in Society and Corporate Social Responsibility: Lutgart van den Berghe, in collaboration with Steven Carchon: Ira M. Millstein and Holly J. Gregory: Learning From Our Mistakes