Corporate Governance in the Us and Europe: Where are We Now?

Abstract

This book is based on a conference organised by the London School of Economics and New York University, held in London on November 4th and 5th, 2004.

The conference brought together academics and practitioners from both sides of the Atlantic to review recent developments in corporate governance, focusing in particular on the lessons to be learnt from the stock market boom-and-bust and from the corporate scandals that came to light in 2001 and 2002. A list of conference participants is on page 96.

This book comprises, first, an overview of the themes that were discussed at the conference together with some comments on unresolved issues where further research is needed, and, second, summaries of the contributions made by conference speakers. The appendices contain details of recent changes in corporate governance rules that have been introduced in the US, Germany and UK, together with an account of events leading to enactment of the European Takeover Code.

Keywords: Corporate Governance, Over-valued Equity, Convergence, Boards, Institutional Shareholders, Executive Pay, Information and Regulation

JEL Classification: G34, G38, K22