Corporate Governance (Theoretical and Empirical Research)

Author: Xavier Vives (Editor), translated by Zheng Jianghua et al.
Publisher:
Publish Date: 2006-01-01
Features: Corporate governance is a highly active field of academic research, accompanied by vigorous public discourse. In recent years, many issues have attracted widespread interest, such as the generalization of the "shareholder value" perspective and institutional investment, legislative efforts on the "best practices" of directors (boards), and debates over which system—market-based or bank-centric (relationship-based)—is more beneficial for the economy. The outcomes of these debates also hold significant implications for developing and transition economies. The articles in this book were presented at the conference "New Perspectives on Corporate Governance," held in Barcelona in 1998. Organized by the d'Analisi Economic Institute and funded by the Catalan Finance Institute, the conference aimed to showcase the latest developments in corporate governance theory and empirical research. Chapter 1 serves as an introduction, providing an overview of the book's themes, summarizing the consensus already reached, outlining the contributions of subsequent chapters, and highlighting the importance of corporate governance issues. The following chapters cover topics such as the role of competition and its relationship with corporate governance, the political economy of corporate governance, the impact of different corporate governance systems on economic performance, the governance regime of Silicon Valley venture capital, and human capital and control in new firms.
About the Author: Xavier Vives is a professor of economics and finance, a distinguished visiting professor at INSEAD's European Research Program (Portuguese Committee), a researcher at the Center for Economic Policy Research, and the former director of the Industrial Organization Research Program (1991–1997). He served as the editor-in-chief of Economía: Revista de Economía Aplicada (2000–2003) and was the director of the d'Analisi Economic Institute (CSIC, Barcelona) from 1991 to 2001. He has taught at Harvard University, the Autonomous University of Barcelona, Pompeu Fabra University, the University of California, Berkeley, the University of Pennsylvania, and New York University. Professor Vives received his Ph.D. in economics from the University of California, Berkeley, in 1983. Throughout his academic career, he has delivered lectures on industrial organization, competitive strategy, microeconomics, game theory, banking, and financial markets at the undergraduate, graduate, and doctoral levels. His research spans industrial organization, information economics, banking, and finance. He has published articles in leading international economics journals and has edited or co-edited books such as Oligopoly Pricing: Old Ideas and New Methods (MIT Press, 1999), Corporate Governance: Theory and Empirical Research (CUP, 2000), and Capital Markets and Financial Intermediation (CUP, 1993). He is also an editor of the Journal of the European Economic Association and a co-editor of the Journal of Economic Management and Strategy. Since 1992, he has been a member of the Econometric Society and has received several research awards. His current research focuses on oligopoly pricing mechanisms, banking crises, insider trading rules, competitive strategy, and corporate headquarters location. Professor Vives serves as a consultant on competition and regulatory issues for the World Bank and the European Commission, as well as for major multinational corporations.