Long-Term Investment Management

The Principal–Agent Problem and Metrics of Performance

Authored by: Gordon L. Clark , Ashby H.B. Monk

The Routledge Handbook of Financial Geography

Print publication date:  December  2020
Online publication date:  December  2020

Print ISBN: 9780815369738
eBook ISBN: 9781351119061
Adobe ISBN:

10.4324/9781351119061-15

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Abstract

There is a large and growing literature on corporate governance in the social sciences (Spulber, 2009). Compendiums abound with theories, research programmes, critical studies of the impact of globalization on regimes of corporate governance, as well as claims and counterclaims over the link between regimes of corporate governance, and the economic performances of nations and groups of nations (Helpman, 2008; Hopt et al., 1998; Williams and Zumbansen, 2011). For economic geographers, any regime of corporate governance is necessarily embedded in a complex web of country-specific rules, regulations, social norms, and conventions (Bathelt and Glückler, 2011; Gertler, 2010). Nonetheless, there remains an overarching interest in best practice—that is, modes of organization and management that are more effective than others in realizing common objectives.

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