Kose John, Lemma W Senbet
ABSTRACT
This paper surveys the empirical and theoretical literature on the
mechanisms of corporate governance. We focus on the internat mechanisms
of corporate governance (e.g., arising from conflicts of interests between
managers and equityholders, equityholders and creditors, and capital contributors
and other stakeholders to the corporate firm. We also examine the substitution
effect between internal mechanisms of corporate governance and external
mechanisms, particularly markets for corporate control. Directors for future
research are provided.
John: (212) 998-0337 kjohn@stern.nyu.edu
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