TY  - JOUR
AU  - Morck,Randall
AU  - Yeung,Bernard
TI  - Never Waste a Good Crisis:  An Historical Perspective on Comparative Corporate Governance
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 15042
PY  - 2009
Y2  - June 2009
UR  - http://www.nber.org/papers/w15042
L1  - http://www.nber.org/papers/w15042.pdf
N1  - Author contact info:
Randall Morck
Faculty of Business
University of Alberta
Edmonton, AB  T6G 2R6
CANADA
Tel: 780/492-5683
Fax: 780/492-3325
E-Mail: randall.morck@ualberta.ca

Bernard Yeung
National University of Singapore
Mochtar Riady Building
15 Kent Ridge Drive
BIZ 1, Level 6, #6-19
Singapore 119245
Tel: +65 6516 3075 
Fax: +65 6779 1365 
E-Mail: bizdean@nus.edu.sg
AB  - Different economies at different times use different institutional arrangements to constrain the people entrusted with allocating the economy's capital and other resources. Comparative financial histories show these corporate governance regimes to be largely stable through time, but capable of occasional dramatic change in response to a severe crisis. Legal origin, language, culture, religion, accidents of history (path dependence), and other factors affect these changes because they affect how people and societies solve problems.
ER  -