The Emergence of Corporate Governance People, Power and Performance

Corporate governance is not just about models of best practice organisation or prescriptions following laws or social conventions. Corporate governance is also about persons of power seeking performance, and they do so in ways that transcend structures and pre-conceived notions of the structural set-up of the business. This book emphasises the decision-making dimensions of corporate governance, placing it right in the messy middle of the ever-changing world of capitalism, focussing on the interplay between professional managers and shareholders. This book aims to bring together several fresh perspectives on the development of capitalism seen through the lens of corporate governance. It illustrates the role of intentionality and persons, both as a method with which to understand processes of change, but also as a principle with which to seek a deeper understanding of the corporate governance choices made. It will be of interest to researchers, academics and students in the fields of corporate governance and entrepreneurship, as well as practitioners and other audience interested in the evolution of capitalism and corporate culture.

1. Managerial Capitalism and Corporate Governance Leslie Hannah 2. Lost from view: the legal invisibility of managers in the U.K. Andrew Johnston and Blanche Segrestin 3. The rise and fall of managerial capitalism in Norway, 1895—1940 Knut Sogner 4. From Liberalism to Fascism and Back Again: Law, Politics, and the Evolution of Corporate Governance in Germany (1850-1950) Stéphanie Collet and Caroline Fohlin 5. The Organization of Banking: A Case Study of Governance and Performance Harold James 6. Corporate Governance versus Business Group Governance, Part 1: The Low-income Trap Luis Alfonso Dau, Randall Morck, Bernard Yeung 7. Corporate Governance versus Business Group Governance, Part 2: The Middle-income Trap Luis Alfonso Dau, Randall Morck, Bernard Yeung 8. The Emergence of New Corporate Governance and the Consolidation of Personalized Managerial Capitalism in South Korea Dong-Woon Kim 9. Corporate Governance Reform in Japan: Building a System for Long-Term Value Creation Ulrike Schaede 10. Maximizing Shareholder Value as an Ideology of Predatory Value Extraction William Lazonick 11. The Perplexing Roles of Institutional Investors in a World of Multiple Investing Entities Peter Gourevitch 12. Personal Capitalism between Individualism and Professionalization Andrea Colli

Knut Sogner is Professor of Economic History at BI Norwegian Business School. Andrea Colli is Professor of Economic History at Bocconi University, Milan.