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The Anatomy of Corporate LawA Comparative and Functional Approach$
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Reinier Kraakman, John Armour, Paul Davies, Luca Enriques, Henry Hansmann, Gerard Hertig, Klaus Hopt, Hideki Kanda, Mariana Pargendler, Wolf-Georg Ringe, and Edward Rock

Print publication date: 2017

Print ISBN-13: 9780198739630

Published to Oxford Scholarship Online: March 2017

DOI: 10.1093/acprof:oso/9780198739630.001.0001

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PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.com). (c) Copyright Oxford University Press, 2022. All Rights Reserved. An individual user may print out a PDF of a single chapter of a monograph in OSO for personal use.date: 28 January 2022

Beyond the Anatomy

Beyond the Anatomy

(p.267) 10 Beyond the Anatomy
The Anatomy of Corporate Law

John Armour

Luca Enriques

Mariana Pargendler

Wolf-Georg Ringe

Oxford University Press

This concluding chapter, rather than providing a summary, focuses on the boundaries of what the book explains. It reflects first upon explanations for the differences in the corporate laws of the selected jurisdictions: while some differences are functional, that is, can be traced back to the underlying divergence in economic conditions across jurisdictions, others are political and/or cultural: it is conceded that the book provides no theory to predict whether a given non-economic factor will trump economic ones in any given context. Next, the limits of the book’s coverage are considered, in terms of the jurisdictions, organizational forms, and time period surveyed. Finally, the chapter speculates upon the evolution of corporate law in light of observable changes in the governance of corporations (chief among them, the reconcentration of ownership in institutional investors), in the political landscape (with the increasing use of corporate law as a tool to address externalities or social issues), and technological developments.

Keywords:   corporate governance, corporate law, emerging economies, external corporate law, institutional investors, organizational forms, ownership structures, technology

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