To what extent have variations in the financing and governance of firms determined the long-term success and stability of leading economies?.
Key issues to be considered:
Finance and Corporate Governance
i. To what extent are finance and governance systems converging and to what extent is the Anglo-US system becoming dominant? Have differences in the system, past and present, been able to explain comparative performance? How do you explain the success of the Japanese and German systems before 1990, and their comparative failure since? How do you explain trends in the UK and USA since the 1990s? How does the banking system operate in China, and how much has it transformed? What is the relationship between finance and corporate governance, and can we find a link between performance and governance? What do crises such as that of 2008 tell us? ii. Think about stock markets, bank systems, ownership, business strategy and objectives, power/authority of management, long termism, investment in technology, machinery and people, or organizational capabilities generally and so on. iii. Nature of ownership, governance and business strategy, corporate objectives iii. Power/authority of management, nature of strategic decision making, nature of decisions on building corporate capabilities