Introduction: Recent Developments in Corporate Governance

Abstract

Abstract Recently, policymakers have taken a keen interest in the economic function of corporate governance systems. The impact of globalization and the recent finance-driven troubles in East Asia and elsewhere have spurred this drive toward policies and institutions that address defects in corporate performance and propose comprehensive reforms said to foster higher firm productivity, more entrepreneurship, and better developed capital markets. In the corporate world today there is a lively debate about how to design an effective corporate governance system that promotes economic efficiency.