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dc.contributor.authorLazonick, Williamen_US
dc.date.accessioned2012-09-21T09:19:46Z-
dc.date.available2012-09-21T09:19:46Z-
dc.date.issued2006en_US
dc.identifier.isbn9291908495en_US
dc.identifier.urihttp://hdl.handle.net/10419/63272-
dc.description.abstractThe notion that good corporate governance means maximizing shareholder value derives from the neoclassical theory of the market economy. I explain why this perspective is highly problematic for understanding the operation and performance of the business corporation and hence the institutions that, for the sake of economic development, should govern it. The main problem is that the market-economy perspective cannot comprehend the process of innovation, including the role of the business corporation. I construct a theory of the innovating firm that, when embedded in comparative-historical analysis, provides a basis for analyzing the relation between corporate governance institutions and economic development.en_US
dc.language.isoengen_US
dc.publisherUNU-WIDER Helsinkien_US
dc.relation.ispartofseriesResearch Paper, UNU-WIDER, United Nations University (UNU) 2006/71en_US
dc.subject.jelG3en_US
dc.subject.jelL2en_US
dc.subject.jelN8en_US
dc.subject.jelO1en_US
dc.subject.ddc330en_US
dc.subject.keywordcorporate governanceen_US
dc.subject.keywordinnovative enterpriseen_US
dc.subject.keywordeconomic developmenten_US
dc.subject.stwCorporate Governanceen_US
dc.subject.stwShareholder Valueen_US
dc.subject.stwUnternehmenen_US
dc.subject.stwInnovationen_US
dc.subject.stwEntwicklungen_US
dc.titleCorporate governance, innovative enterprise, and economic developmenten_US
dc.typeWorking Paperen_US
dc.identifier.ppn51418910Xen_US
dc.rightshttp://www.econstor.eu/dspace/Nutzungsbedingungenen_US
Appears in Collections:WIDER Research Papers, United Nations University (UNU)

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