Corporate Governance Reforms and Firm Ownership Around the World

J.A. Otten, P.P.M.A.R. Heugens, E.J.J Schenk

Research output: Working paperAcademic


Corporate governance reforms have traditionally been studied from the opposing perspectives of global convergence and local persistence, but empirical support for each of these alternatives is mixed at best. Our study of corporate governance reforms in no less than 22 wealthy nations around the world suggests an alternative conceptualization of the reform process: local repairs in light of global ideals. We find that the direction of governance change can be predicted from the dominant ownership patterns in a given country, if we assume that all developed nations seek greater wealth through the broadening and deepening of capital markets.
Original languageEnglish
Place of PublicationUtrecht
PublisherUU USE Tjalling C. Koopmans Research Institute
Number of pages52
Publication statusPublished - Jan 2006

Publication series

NameDiscussion Paper Series / Tjalling C. Koopmans Research Institute
ISSN (Electronic)2666-8238


  • Corporate governance
  • Comparative studies
  • Governance reforms
  • Managerial control
  • Information disclosure
  • Privatization


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