Corporate Governance, Competition, and Performance

Abstract

Corporate governance has become a subject of active academic and policy debate throughout the world. In the UK and US, there is much discussion of the deficiencies of the market system in delivering effective governance. In continental Europe, there is a concern that existing systems of governance are stifling innovation and growth. In Eastern Europe, privatization has given way to questions about the way in which private enterprises should be governed. China is experimenting with forms of corporate governance which attempt to blend some of the features of market systems with state ownership of enterprises.