Customer Reviews

Studies in International Corporate Finance and Governance Systems: A Comparison of the U.S., Japan, and Europe

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As admitted in the book there is an overemphasis on American governance systems due to the many high quality research papers available by leading US academics. The strong point of this book is that the research has been condensed into concise short papers easily understood by corporate accountants (like myself). It gives a broad view of Agency Theory and the associated costs and benefits of various governance models and real life examples. As I am working in Japan, my interest was in the comparision of systems between Japan & US (as an Australian I was dissapointed at no analysis of the Australian perspective). However, the rapid change in the Japanese corporate environment in the last 1-2 years makes some of the discussions marginally out of date. A lot of the analysis though is so fundamental it is unlikely its basis will change much in the next 10 years. A good read and very thought provoking.

This book was written by a number of famous finance professors including several Novel Prize winners. Each chapter was written by the world class academics and this contains comprehensive topics relating to international finance and governance system. This book is not expensive at all but you can learn a lot.