TY  - JOUR
AU  - Bolton,Patrick
AU  - Becht,Marco
AU  - Roell,Alisa
TI  - Corporate Governance and Control
JF  - National Bureau of Economic Research Working Paper Series
VL  - No. 9371
PY  - 2002
Y2  - December 2002
UR  - http://www.nber.org/papers/w9371
L1  - http://www.nber.org/papers/w9371.pdf
N1  - Author contact info:
Patrick Bolton
Columbia Business School
804 Uris Hall
New York, NY 10027
Tel: 212/854-9245
Fax: 212/854-8059
E-Mail: pb2208@columbia.edu

Marco Becht
ECARES
Universite Libre de Bruxelles, CP 114
Av. F. D. Roosevelt 50
1050 Brussels, BELGIUM
Tel: +32-2-6504466
E-Mail: mbecht@ecgi.org
AB  - Corporate governance is concerned with the resolution of collective action problems among dispersed investors and the reconciliation of conflicts of interest between various corporate claimholders. In this survey we review the theoretical and empirical research on the main mechanisms of corporate control, discuss the main legal and regulatory institutions in different countries, and examine the comparative corporate governance literature. A fundamental dilemma of corporate governance emerges from this overview: regulation of large shareholder intervention may provide better protection to small shareholders; but such regulations may increase managerial discretion and scope for abuse.
ER  -