000			03179cam a2200421 i 4500
001			17774715
003			PILC
005			20150805082543.0
008			130612t20132013ne a b 001 0 eng c
010			_a 2013371479
020			_a9789490947828 (hbk.)
020			_a9490947822 (hbk.)
035			_a(OCoLC)ocn824733878
040			_aYDXCP _beng _cYDXCP _erda _dCOO _dOCLCO _dGUL _dERASA _dCDX _dOHX _dWLL _dOCLCQ _dDLC
042			_apcc
050	0	0	_aK 1315 _b.M37 2013
072		7	_aK _2lcco
072		7	_aHD _2lcco
100	1		_aMasouros, Pavlos E., _eauthor.
245	1	0	_aCorporate law and economic stagnation : _bhow shareholder value and short-termism contribute to the decline of the Western economies / _cPavlos E. Masouros.
246	3	0	_aHow shareholder value and short-termism contribute to the decline of the Western economies
246	3		_aProgress stagnation
260			_aNetherlands : _bEleven International Publishing, _c2013.
300			_axxi, 342 pages : _billustrations ; _c25 cm.
490	1		_aDovenschmidt monographs ; _v1
500			_a"Progress stagnation"--Cover.
500			_aIncludes bibliographical references and index.
505	0		_aCorporate governance and international political economy : how changes in the international monetary order brought about the great reversal in corporate governance and the great reversal in shareholdership -- Modeling short-term shareholdership's negative impact on the dynamics of capital accumulation : the post-Keynesian theory of the firm -- Corporate law's contribution to the great reversal in corporate governance -- Corporations and shareholder eugenics : how corporate law sustains the great reversal in shareholdership -- The path towards long governance.
520	8		_aThe shift in the institutional logics of corporate governance towards shareholder value coupled with shareholdership's increasing short-termism have cumulatively contributed to the low GDP growth rates that are observed in five major Western economies (France, Germany, The Netherlands, UK, US) since the breakdown of the Bretton Woods system in the 1970s. This book presents - through empirical data and with the help of the post-Keynesian theory of the firm - a historical causality chain: The two Great Reversals led to higher equity payout ratios and lower retention ratios in public corporations that in turn caused lower growth rates of (business) capital accumulation that in turn caused lower GDP growth rates. Corporate law has been an accomplice for the reorientation of corporate governance towards shareholder value, i.e. for the Great Reversal in Corporate Governance, and thus it indirectly shares the blame for the low rates of capital accumulation that have thrown the five major Western economies in a stagnation mode over the past four decades.
650		0	_aCorporation law.
650		0	_aCorporation law _xEconomic aspects.
650		0	_aSocial responsibility of business.
650		0	_aLaw and economics.
830		0	_aDovenschmidt monographs ; _v1.
906			_a7 _bcbc _cpccadap _d2 _encip _f20 _gy-gencatlg
942			_2lcc _cBK _kFOR
999			_c288318 _d288318