Convergence and Persistence in Corporate Governance
Professor Jeffrey Gordon and Mark Roe, eds. (Cambridge University Press, New York, 2004)
Corporate governance is on the reform agenda throughout the world. Is the Anglo-American model of shareholder capitalism destined to become the global corporate governance standard or will important differences persist? Well-known scholars address this question with sophisticated political economy analysis geared to the legal frameworks. Another issue addressed in this volume is the Enron scandal, which has stirred up an urgent round of questions about corporate governance. This book offers valuable insights into the question of whether the scandal will stop a convergence that was in the works.
Prof. Gordon, who edited this book with former Columbia Professor Mark Roe (now at Harvard Law School), contributes a chapter titled "The International Relations Wedge in the Corporate Convergence Debate." In it, he argues that overall commitments to the project of transnational economic and political integration will account for the pace of convergence (or persistence of differences) in corporate governance and that shareholder capitalism has particular advantages for the convergence project because it is better suited to the control of economic nationalism.