Jump to ContentJump to Main Navigation
Political Determinants of Corporate GovernancePolitical Context, Corporate Impact$
Users without a subscription are not able to see the full content.

Mark J. Roe

Print publication date: 2006

Print ISBN-13: 9780199205301

Published to Oxford Scholarship Online: October 2011

DOI: 10.1093/acprof:oso/9780199205301.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (www.oxfordscholarship.com). (c) Copyright Oxford University Press, 2020. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use. date: 31 March 2020

Reducing Shareholders' Power to Control Managers

Reducing Shareholders' Power to Control Managers

Chapter:
(p.38) Chapter 5 Reducing Shareholders' Power to Control Managers
Source:
Political Determinants of Corporate Governance
Author(s):

Mark J. Joe

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199205301.003.0006

This chapter discusses reductions of shareholders' power to control managers. When the gap separating managers from shareholders is small, some of the tools that can be employed to exert power may not be worth the cost. Nations with lower agency costs do not need all of the tools. But as agency costs rise, as the gap between managers and shareholders widens, the demand for gap-closing tools rises. Social democracies make these gap-closing tools — shareholder value norms, transparent accounting, incentive compensation, hostile takeovers, and proxy contests — harder to employ.

Keywords:   gap-closing tools, shareholder value norms, transparent accounting, incentive compensation, hostile takeovers, proxy contests, wealth maximization

Oxford Scholarship Online requires a subscription or purchase to access the full text of books within the service. Public users can however freely search the site and view the abstracts and keywords for each book and chapter.

Please, subscribe or login to access full text content.

If you think you should have access to this title, please contact your librarian.

To troubleshoot, please check our FAQs , and if you can't find the answer there, please contact us .