Home > Business & Economics > Economics > Economic theory & philosophy > Studies in International Corporate Finance and Governance Systems
Studies in International Corporate Finance and Governance Systems
Studies in International Corporate Finance and Governance Systems
  • Gray Star
  • Gray Star
  • Gray Star
  • Gray Star
  • Gray Star



International Edition


About the Book

The past decade has given rise to a growing debate over the relative efficiency of different national economic systems. There are two basic corporate finance and governance systems that predominate in today's developed economies. One is the Anglo-American market based model, with widely
dispersed shareholders and a fairly vigorous corporate control market. The other is the Japanese and German relationship based system, with its large bank and intercorporate holdings (and conspicuous absence of takeovers). Given the increasing globalization of business, which of these two systems
can be expected to prevail over time? Or will the most valuable aspects of each be blended into a single new system? The story now being told by economists and management experts -- one that this book presents -- is a complicated one. Here is a sampling of the arguments:
Corporate strategist Michael Porter states that the U.S. system of allocating capital both within and across companies appears to be failing because of both capital market and internal pressures on U.S. companies to underinvest in the relatively intangible assets that contribute to corporate
capabilities. In contrast to Porter, financial economist Michael Jensen maintains that the most formidable challenge now facing the U.S. economy -- and, indeed, the economies of all industrialized nations -- is the corporate overinvestment problem, a problem that was addressed in the U.S. by the
leveraged restructuring of the 1980s. Nobel-Prize economist Merton Miller answers both Porters concern about U.S. underinvestment and Jensens pessimism about U.S. control systems with a classic defense of the shareholder-value principle. Corporate strategist C.K. Prahalad, unconvinced by the
arguments of both Miller and Jensen, challenges the wisdom of corporate Americas commitment to maximizing shareholder value. In a roundtable discussion, Prahalad debates with shareholder value advocate Bennett Stewart about the effects of shareholder primacy in the U.S. and its absence in Japan.
Studies in International Corporate Finance and Governance Systems consists of 28 articles (and two roundtable discussions) written by academic and management experts in the fields of corporate finance and governance. Given its commitment to translating outstanding academic research into relatively
plain English for practicing businessmen, this text should prove especially useful for corporate executives as well as students in MBA and executive development programs.
About the Author:
Donald H. Chew was a founding partner of Stern Stewart & Co., the New York based corporate finance firm, and is Editor of Bank of America's Journal of Applied Corporate Finance. He holds a Ph.D. in English and American Literature and an MBA in Finance from the University of Rochester.


Best Sellers



Product Details
  • ISBN-13: 9780195107951
  • Publisher: Oxford University Press, USA
  • Publisher Imprint: Oxford University Press, USA
  • Height: 234 mm
  • No of Pages: 384
  • Series Title: English
  • Weight: 676 gr
  • ISBN-10: 0195107950
  • Publisher Date: 16 Jan 1997
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Spine Width: 20 mm
  • Width: 191 mm


Similar Products


Write A Review
Write your own book review for Studies in International Corporate Finance and Governance Systems
  • Gray Star
  • Gray Star
  • Gray Star
  • Gray Star
  • Gray Star


 

 

Top Reviews
Be the first to write a review on this book Studies in International Corporate Finance and Governance Systems

New Arrivals



Inspired by your browsing history