The political and social predicates that make the large firm possible and that shape its form are not always taken into account, despite the fact that variation in the political and social environment can deeply affect which firms, which ownership structures, and which governance arrangements survive and prosper. Focussing on the US, the larger nations in continental Europe, and Japan, Mark Roe uses statistical and qualitative analyses to explore the relationship between politics, history, and business organization.

Corporate governance is on the reform agenda all over 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. The Enron scandal has stirred up an urgent round of corporate governance questioning. Will it stop a convergence that was in the works? This volume offers interesting insights into this question.

Corporate governance is on the reform agenda all over 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. The Enron scandal has stirred up an urgent round of corporate governance questioning. Will it stop a convergence that was in the works? This volume offers interesting insights into this question.

In this major reinterpretation of the evolution of the American corporation, Mark Roe convincingly demonstrates that the ownership structure of large U.S. firms owes its distinctive character as much to politics as to economics and technology. His provocative examination addresses essential issues facing American businesses today as they compete in the new international marketplace.