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Ownership and Governance of Enterprises

Recent Innovative Developments

  • Book
  • © 2003

Overview

Editors:
  1. Laixiang Sun

    1. School of Oriental and African Studies, University of London, UK
      International Institute for Applied System Analysis, Laxenburg, Austria
      Guanghua School of Management, Peking University, Beijing, China

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Part of the book series: Studies in Development Economics and Policy (SDEP)

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Table of contents (8 chapters)

  1. Front Matter

    Pages i-xiv
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  2. Adaptive Efficiency and the Evolving Diversity of Enterprise Ownership and Governance Forms: An Overview

    • Laixiang Sun
    Pages 1-35

  3. Institutional Investors, Corporate Ownership and Corporate Governance: Global Perspectives

    • Stuart L. Gillan, Laura T. Starks
    Pages 36-68

  4. New Institutional Arrangements for Product Innovation in Silicon Valley

    • Hirokazu Takizawa
    Pages 69-95

  5. Sharing Ownership via Employee Stock Ownership

    • James C. Sesil, Douglas L. Kruse, Joseph R. Blasi
    Pages 96-123

  6. Hardening a Soft Budget Constraint through ‘Upward Devolution’ to a Supranational Institution: The Case of the European Union and Italian State-Owned Firms

    • Elisabetta Bertero, Laura Rondi
    Pages 124-158

  7. Evolving and Functioning Mechanisms of Employee Stock Ownership in China’s Township and Village Enterprises

    • Laixiang Sun
    Pages 159-180

  8. Network Externalities and Cooperative Networks: Stylized Facts and Theory

    • Stephen C. Smith
    Pages 181-201

  9. Network Externalities and Cooperative Networks: A Comparative Case Study of Mondragón and La Lega with Implications for Developing and Transitional Countries

    • Stephen C. Smith
    Pages 202-241

  10. Back Matter

    Pages 243-261
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Keywords

About this book

Conventional wisdom recommends the superiority of private ownership of enterprises. The reality confronts it with a rich diversity in ownership and governance structures. This volume examines five types of unorthodox ownership and governance form emerging in the industrial sector across major economies. It analyzes two cases to demonstrate that there are alternative ways to harden budget constraints of state-owned enterprises. It investigates the driving forces behind these evolving dynamics and explores policy implications for developing and transition economies.

Reviews

'This book, edited by Laixiang Sun, has evidently analyzed and compared emerging unorthodox ownership and governance structures in a knowledge intensive, informative and insightful format and has been designed in an elegant and accessible way towards both specialists and non-specialists. These works contain up-to-date case studies, development assessments, policy analyses, and literature reviews, and will be of interest to various business people, policy-consultants, regulators, policy-makers and scholars.' - Larry H.P. Lang, Chair Professor of Finance, Chinese University of Hong Kong and Cheung Kong Graduate School of Business in Beijing

'In the main the conventional wisdom predicts an economic landscape in which key institutional arrangements surrounding enterprises are expected to be fairly homogeneous and stable. The existence and evolution of diverse ownership configurations and varying forms of corporate governance in firms around the world presents enormous challenges to this view. This stimulating volume examines several interesting examples of 'real world heterogeneity' including the Mondragon Cooperative Consortium, U.S. ESOPs and Chinese TVEs. The volume provides rich institutional detail that meshes well with an eclectic theoretical framework. Students of the modern enterprise and policy makers in the fields of development and transition will find much thought-provoking material in this well-written and accessible volume.' - Derek C. Jones, Irma M. and Robert D. Morris Professor of Economics, Hamilton College, Clinton, NY and Research Fellow, Davidson Institute, University of Michigan

Editors and Affiliations

  • School of Oriental and African Studies, University of London, UK

    Laixiang Sun

  • International Institute for Applied System Analysis, Laxenburg, Austria

    Laixiang Sun

  • Guanghua School of Management, Peking University, Beijing, China

    Laixiang Sun

About the editor

ELISABETTA BERTERO Lecturer in the Department of Accounting and Finance, London School of Economics, UK JOSEPH BLASI Professor in the School of Management and Labour Relations, Rutger University STUART L. GILLAN Assistant Professor in the Department of Finance, University of Delaware, USA DOUGLAS L. KRUSE Professor in the School of Management and Labour Relations, Rutger University LAURA RONDI Senior Researcher for the Italian National Research Council, Economic Research Centre on Firms and Growth JAMES C. SESIL Assistant Professor in the School of Management and Labour Relations, Rutger University STEPHEN C. SMITH Professor in the Department of Economics, George Washington University, USA LAURA T. STARKS Charles E. and Sarach M. Seay Regents Chair in Finance, George Washington University, USA HIROKAZU TAKIZAWA Associate Professor, Faculty of Economics, Toyo University, and Faculty Fellow at the Research Institute of Economy, Trade and Industry, Tokyo, Japan

Bibliographic Information

  • Book Title: Ownership and Governance of Enterprises

  • Book Subtitle: Recent Innovative Developments

  • Editors: Laixiang Sun

  • Series Title: Studies in Development Economics and Policy

  • DOI: https://doi.org/10.1057/9781403943903

  • Publisher: Palgrave Macmillan London

  • eBook Packages: Palgrave Economics & Finance Collection, Economics and Finance (R0)

  • Copyright Information: United Nations University 2003

  • Hardcover ISBN: 978-1-4039-1633-4Published: 16 October 2003

  • Softcover ISBN: 978-1-349-51276-8Published: 01 January 2003

  • eBook ISBN: 978-1-4039-4390-3Published: 16 October 2003

  • Series ISSN: 1754-9604

  • Edition Number: 1

  • Number of Pages: XIV, 261

  • Topics: Development Economics

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