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date: 07 April 2020

Abstract and Keywords

Particularly influential in the economics, finance and neo-liberal policy community have been approaches that link the law to firm-level work and employment relations, and macroeconomic outcomes, and the consequences of particular traditions and associated bodies of law: these approaches favour the stronger private property rights associated with the common law tradition. However, the evidence marshalled to support the common-law superior macroeconomic outcomes thesis is highly selective. A further limitation is that the firm is primarily seen as a transmission belt: the effect of institutional environment is explored primarily in terms of possible macroeconomic outcomes. In other words, for a theory of, and debate around, corporate governance, there is remarkably little about the firm.

Keywords: property rights, legal origin, comparative capitalism

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