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Full Description
This comparative analysis of business systems examines firms and enterprises across three major economies in the world: the US, China and Japan. It asks how the law relates to business practice, economic growth and social development; and how enterprise law maximizes firm value in these three jurisdictions. The divergent legal, social and economic approaches towards the market, firms, and business and corporate law in these three major economies justify a close scrutiny of enterprise law with the aim of better understanding legal and economic models for social and economic development in a comparative context. This book will be of interest to academics and practitioners in law, business, management, public policy, political science, and economics. It offers a useful framework for legislative policy makers across the world - particularly in developing countries.
Contents
Introduction; Part I. Theory and Framework: 1. The framework of analysis; 2. Corporate governance and state; Part II. Management: Executives and Monitors: 3. Incentive of management; 4. Board systems; Part III. Other Three Players and Incentive Bargaining; 5. Employees; 6. Shareholder I: external governance by voice; 7. Shareholder II: external governance by exit: mergers and acquisitions; 8. Creditors; Part IV. Types of Firms: 9. Start-ups and venture capital markets; 10. Listed family firms; Part V. Legislative Policies: 11. Law-making and incentive bargaining; References; Index.