Jump to ContentJump to Main Navigation
Corporate Governance in ContextCorporations, States, and Markets in Europe, Japan, and the US$
Users without a subscription are not able to see the full content.

Klaus J. Hopt, Eddy Wymeersch, Hideki Kanda, and Harald Baum

Print publication date: 2005

Print ISBN-13: 9780199290703

Published to Oxford Scholarship Online: March 2012

DOI: 10.1093/acprof:oso/9780199290703.001.0001

Show Summary Details
Page of

PRINTED FROM OXFORD SCHOLARSHIP ONLINE (oxford.universitypressscholarship.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: 30 October 2020

Information Theory and the Role of Intermediaries

Information Theory and the Role of Intermediaries

Chapter:
(p.480) (p.481) Information Theory and the Role of Intermediaries
Source:
Corporate Governance in Context
Author(s):

Reinhard H. Schmidt

Marcel Tyrell

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199290703.003.0025

This chapter is structured as follows. Section II discusses some aspects of the economics of information, showing why the specific features of information as an economic good can lead to incentive problems in the production and use of information and to market failure in a market for information in general. It then distinguishes between internalisation and externalisation as two fundamentally different ways of dealing with information in economic systems, and thereby introduces a distinction which surfaces again when corporate governance systems and the way they use information are discussed in Section III. Section IV concludes by summarising the argument, discussing briefly the issue of the interrelations between the prevailing corporate governance system and types of activities or industry structures supported in the respective countries, and offering some open questions concerning the possibility of combining the two types of corporate governance systems and the two ways of dealing with information.

Keywords:   corporate governance, information, economic systems

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 .