The Globalization of Corporate Governance

The process of economic globalization, as product and capital markets have become increasingly integrated since WWII and has placed huge, and it is argued by some, irresistible pressures on the world's 'insider' stakeholder oriented corporate governance systems. Insider corporate governance systems in countries such as Germany and Japan, so the argument goes, should converge or be transformed by global product and capital market pressures to the 'superior' shareholder oriented 'outsider' corporate governance model prevalent in the UK and the US. What these pressures from globalization are, whether they are likely to continue, how they manifest themselves and whether they are likely to cause such a convergence/transformation lies at the heart of the exploration in this volume. The Globalization of Corporate Governance provides a timely analysis of the strengths and weaknesses of the key corporate governance systems and the impact of economic globalization on them, and as such, is a valuable resource for academics and policymakers.