Law Commons^™

For more than 40 years, corporate law scholars have been focused principally on issues of “corporate governance” understood as the study of rules governing the internal allocation of power among shareholders and managers within a single firm, and its global corollary, “comparative corporate governance” exploring the impact of domestic share ownership patterns in different countries. In the development field, corporate scholars have largely focused on identifying “best practice” corporate governance rules designed to lead to the productive efficiency of individual domestic firms or to patterns of share ownership that increase the efficiency of domestic capital markets. While the questions traditionally …