(Wednesday, 1st January 2003)
The aim of this workshop is to introduce the student to some recent empirical research that links corporate governance with financial sector design and economic growth. I will start out laying some theoratical foundations to the concepts of management and governance to link governance and financial contracting. The empirical papers then demonstrate that a sound legal system to ensure efficient financial contracting is a principal prerequisite for a well-operating financial sector and eventually economic growth. Some outlook to political economy research concludes the presentation.
Bibliographical references :
Must read reference : La Porta, Rafael, Florencio Lopez-de-Silanes, Andrei Shleifer, and Robert Vishny [2000], "Investor Protection and Corporate Governance,"
Pre-print version published in : Journal of Financial Economics, 58, 3-27.
Ross Levine [2001], "Bank-Based or Market-Based Financial Systems: Which is Better?", Carlson School of Management, University of Minnesota.
Harm, Christian [2003], "Theoretical Perspectives on Management, Governance, and Finance", University of Münster.
Harm, Christian [2000], "The Limits of Corporate Governance :
An examination of the manager-shareholder conflict", University of Münster.
Only Chapter three of that paper is relevant for the presentation.
