John Armour, Luca Enriques, Mariana Pargendler, and Wolf-Georg Ringe
- Published in print:
- 2017
- Published Online:
- March 2017
- ISBN:
- 9780198739630
- eISBN:
- 9780191837982
- Item type:
- chapter
- Publisher:
- Oxford University Press
- DOI:
- 10.1093/acprof:oso/9780198739630.003.0010
- Subject:
- Law, Company and Commercial Law
This concluding chapter, rather than providing a summary, focuses on the boundaries of what the book explains. It reflects first upon explanations for the differences in the corporate laws of the ...
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This concluding chapter, rather than providing a summary, focuses on the boundaries of what the book explains. It reflects first upon explanations for the differences in the corporate laws of the selected jurisdictions: while some differences are functional, that is, can be traced back to the underlying divergence in economic conditions across jurisdictions, others are political and/or cultural: it is conceded that the book provides no theory to predict whether a given non-economic factor will trump economic ones in any given context. Next, the limits of the book’s coverage are considered, in terms of the jurisdictions, organizational forms, and time period surveyed. Finally, the chapter speculates upon the evolution of corporate law in light of observable changes in the governance of corporations (chief among them, the reconcentration of ownership in institutional investors), in the political landscape (with the increasing use of corporate law as a tool to address externalities or social issues), and technological developments.Less
This concluding chapter, rather than providing a summary, focuses on the boundaries of what the book explains. It reflects first upon explanations for the differences in the corporate laws of the selected jurisdictions: while some differences are functional, that is, can be traced back to the underlying divergence in economic conditions across jurisdictions, others are political and/or cultural: it is conceded that the book provides no theory to predict whether a given non-economic factor will trump economic ones in any given context. Next, the limits of the book’s coverage are considered, in terms of the jurisdictions, organizational forms, and time period surveyed. Finally, the chapter speculates upon the evolution of corporate law in light of observable changes in the governance of corporations (chief among them, the reconcentration of ownership in institutional investors), in the political landscape (with the increasing use of corporate law as a tool to address externalities or social issues), and technological developments.
