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OverviewDuring the 1990s, corporate governance became a hot issue in all of the advanced economies. For decades, major business corporations had reinvested earnings and developed long-term relations with their labour forces as they expanded the scale and scope of their operations. As a result, these corporations had made themselves central to resource allocation and economic performance in the national economies in which they had evolved. Then, beginning in the 1980s and picking up momentum in the 1990s, came the contests for corporate control. Previously silent stockholders, now empowered by institutional investors, demanded that corporations be run to 'maximize shareholder value'. In this highly original book, Mary O'Sullivan provides a critical analysis of the theoretical foundations for this principle of corporate governance and for the alternative perspective that corporations should be run in the interests of 'stakeholders'. She embeds her arguments on the relation between corporate governance and economic performance in historical accounts of the dynamics of corporate growth in the United States and Germany over the course of the twentieth century. O'Sullivan explains the emergenceDSand consequencesDSof 'maximizing shareholder value' as a principle of corporate governance in the United States over the past two decades, and provides unique insights into the contests for corporate control that have unfolded in Germany over the past few years. Full Product DetailsAuthor: Mary O'Sullivan (Assistant Professor of Strategy, Assistant Professor of Strategy, INSEAD, France)Publisher: Oxford University Press Imprint: Oxford University Press Dimensions: Width: 16.30cm , Height: 2.40cm , Length: 24.20cm Weight: 0.653kg ISBN: 9780198293460ISBN 10: 0198293461 Pages: 346 Publication Date: 20 April 2000 Audience: Professional and scholarly , Professional & Vocational Format: Hardback Publisher's Status: Active Availability: To order  Stock availability from the supplier is unknown. We will order it for you and ship this item to you once it is received by us. Table of ContentsIntroduction Chapter 1: Innovation, Resource Allocation, and Governance Chapter 2: Transforming the Debates on Corporate Governance Chapter 3: The Foundations of Managerial Control in the United States Chapter 4: The Post-War Evolution of Managerial Control in the United States Chapter 5: Challenges to Post-War Managerial Control in the US Chapter 6: US Corporate Responses to New Challenges Chapter 7: From Managerial to Contested Control in Germany Chapter 8: The Emerging Challenges to Organizational Control in Germany ConclusionReviews`This is an important book, and not a comfortable one. The message is disturbing ... Chapter 1 is an excellent and challenging survey of the links between innovation, resource allocation and governance.' Michael Mumford, Business History ...this book, based on detailed historical research in both countries, represents a powerful challenge to current orthodoxy. It also has the great merit of focusing attention on questions that really matter. Her answers should give admirers of American capitalism pause for thought. Geoffrey Owen, Financial Times, 14 June 2000. Author InformationMary O'Sullivan is Assistant Professor at INSEAD, France. Previous positions have included Business Analyst at McKinsey and Company, Inc., London (198890), and Visiting Scholar, Institute of Social Science, University of Tokyo (July 1996). Tab Content 6Author Website:Countries AvailableAll regions |
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