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Political Determinants of Corporate GovernancePolitical Context, Corporate Impact$
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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

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Populism and Socialism in Corporate Governance

Populism and Socialism in Corporate Governance

Chapter:
(p.199) Chapter 27 Populism and Socialism in Corporate Governance
Source:
Political Determinants of Corporate Governance
Author(s):

Mark J. Joe

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199205301.003.0028

This chapter concludes the analysis of the effect of the quality of corporate law on separation. High-quality protective corporate law is a good institution for a society to have. It lowers the cost of building strong, large business enterprises. It can prevent controlling stockholder diversions, a necessary condition for separation. But among the world's wealthier nations, it does not primarily determine whether it is worthwhile to build those enterprises. It is a tool, not the foundation. American-style populism and European-style social democracy are different sides of the same political coin. The polity pays up to affect corporate governance institutions. The differences have deeply affected corporate governance, militating toward differing ownership and government structures.

Keywords:   populism, socialism, America, Europe, corporate Governance, capital movement

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