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date: 10 July 2020

Abstract and Keywords

This chapter explores the relationship between governance transparency and institutions of capitalism. It considers two major components of governance transparency in a country: disclosure regarding self-dealing and disclosure regarding ultimate corporate ownership. It also examines the effects of governance transparency on some of the fundamental mechanisms of capitalism, including transaction costs and the institutions of business exchange. Some evidence of the importance of governance transparency in the structure of capital markets is presented. The chapter reviews how governance transparency is measured and how it influences the culture of equity, the cost of equity, participation in stock markets, and a nation’s financial architecture.

Keywords: capitalism, capital markets, corporate ownership, corporate control, disclosure, equity, financial architecture, governance institutions, governance transaction costs, self-dealing, stock markets, transparency

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