LEADER 05960nam 2200745Ia 450 001 9910956017003321 005 20200520144314.0 010 $a9789460946486 010 $a9460946488 010 $a9781299282131 010 $a129928213X 010 $a9789460947070 010 $a9460947077 035 $a(CKB)2560000000099598 035 $a(EBL)3015607 035 $a(SSID)ssj0000885893 035 $a(PQKBManifestationID)12395802 035 $a(PQKBTitleCode)TC0000885893 035 $a(PQKBWorkID)10815858 035 $a(PQKB)11068454 035 $a(Au-PeEL)EBL3015607 035 $a(CaPaEBR)ebr10688548 035 $a(CaONFJC)MIL459463 035 $a(OCoLC)842900414 035 $a(Au-PeEL)EBL30518789 035 $a(MiAaPQ)EBC3015607 035 $a(MiAaPQ)EBC30518789 035 $a(OCoLC)1378390552 035 $a(EXLCZ)992560000000099598 100 $a20130425d2013 uy 0 101 0 $aeng 135 $aurcn||||||||| 181 $ctxt 182 $cc 183 $acr 200 10$aCorporate law and economic stagnation $ehow shareholder value and short-termism contribute to the decline of the western economies /$fPavlos E. Masouros 205 $a1st ed. 210 $aThe Hague ;$aPortland, OR $cEleven International Publishing$dc2013 215 $a1 online resource (366 p.) 225 0 $aDovenschmidt monographs ;$v1 300 $aDescription based upon print version of record. 311 08$a9789462907768 311 08$a9462907765 311 08$a9789490947828 311 08$a9490947822 320 $aIncludes bibliography (pp. 287-327) and index. 327 $a""Cover""; ""Dedication""; ""FOREWORD""; ""ACKNOWLEDGMENTS""; ""TABLE OF CONTENTS""; ""TABLE OF FIGURES""; ""PREFACE""; ""INTRODUCTION""; ""1. UNDERSTANDING THE STRUCTURAL PATHOLOGIES OF THE CURRENT MODEL OF CAPITALISM""; ""2. SHOULD CORPORATE GOVERNANCE BE FIXED IN THE POST-2008 WORLD?""; ""3. OUTLINE OF THE RESEARCH""; ""3.1. Outline of Chapter 1: The Great Reversal in Corporate Governance and the Great Reversal in Shareholdership""; ""3.2. Outline of Chapter 2: The Post-Keynesian Theory of the Firm"" 327 $a""3.3. Outline of Chapter 3: Corporate Law and the Great Reversal in Corporate Governance""""3.4. Outline of Chapter 4: Corporate Law and the Great Reversal in Shareholdership""; ""3.5. Outline of Chapter 5: The Path Towards Long Governance""; ""4. EMBEDDING THE RESEARCH IN THE CORPORATE GOVERNANCE LITERATURE""; ""4.1. An Overview Of The Comparative Corporate Governance Literature ""; ""4.2. The Research's Novelties in Relation to the Existing Comparative Corporate Governance Literature""; ""Chapter 1: CORPORATE GOVERNANCE AND INTERNATIONAL POLITICAL ECONOMY"" 327 $a""1.1. THE INTELLECTUAL SUBSTRUCTURE OF THE GOLDEN AGE OF CAPITALISM: KEYNESIAN ECONOMICS""""1.1.1. The Keynesian Theory on Uncertainty and the Notion of Confidential Crisis""; ""1.1.2. "The Liquidity Trap""; ""1.1.3. Keynesian Fiscalism""; ""1.2. THE MACROECONOMIC INSTITUTIONS OF THE GOLDEN AGE: THE BRETTON WOODS SYSTEM""; ""1.2.1. A Legal Analysis of the Bretton Woods Agreement""; ""1.2.2. The Bretton Woods System and the Restrictions on Capital Movement""; ""1.3. THE DECONSTRUCTION OF THE GOLDEN AGE: THE BREAKDOWN OF THE BRETTON WOODS SYSTEM"" 327 $a""1.3.1. The Deutsche Mark Floating and the Nixon Shock: The Fulfillment of the Triffin Dilemma Prophecy""""1.3.2. The Causality Relationship Between the Demise of Bretton Woods and the Oil Shocks of the 1970's""; ""1.3.3. Financing the Current Account Deficits: Petrodollar Recycling and Capital Account Liberalization""; ""1.4. THE MACROECONOMIC INSTITUTIONS OF THE POST-BRETTON WOODS WORLD""; ""1.4.1. The Capital Account Liberalization Movement""; ""1.4.2. The European Monetary Union and the Erga Omnes Free Movement of Capital"" 327 $a""1.4.3. The Interjurisdictional Competition for Siphoning Capital to National Financial Markets""""1.5. THE INTELLECTUAL SUBSTRUCTURE OF THE POST-BRETTON WOODS WORLD: NEOCLASSICAL ECONOMICS""; ""1.5.1. The Antidote to the Great Stagflation: Monetarism""; ""1.5.2. The Rise of New Classical Macroeconomics""; ""1.5.3. The Basic Tenets of the Neoclassical Orthodoxy""; ""1.5.4. Neoclassical Economics and the Deregulation Movement""; ""1.5.5. A Case Study on Deregulation: The US Banking Regulation"" 327 $a""1.6. THE SHIFT IN THE INSTITUTIONAL LOGICS OF CORPORATE GOVERNANCE IN THE POST-BRETTON WOODS WORLD"" 330 8 $aThe shift in the institutional logics of corporate governance towards shareholder value coupled with shareholdership's increasing short-termism have cumulatively contributed to the low GDP growth rates that are observed in five major Western economies (France, Germany, The Netherlands, UK, US) since the breakdown of the Bretton Woods system in the 1970s. This book presents - through empirical data and with the help of the post-Keynesian theory of the firm - a historical causality chain: The two Great Reversals led to higher equity payout ratios and lower retention ratios in public corporations that in turn caused lower growth rates of (business) capital accumulation that in turn caused lower GDP growth rates. Corporate law has been an accomplice for the reorientation of corporate governance towards shareholder value, i.e. for the Great Reversal in Corporate Governance, and thus it indirectly shares the blame for the low rates of capital accumulation that have thrown the five major Western economies in a stagnation mode over the past four decades. 606 $aCorporation law$xEconomic aspects 606 $aStockholders 615 0$aCorporation law$xEconomic aspects. 615 0$aStockholders. 700 $aMasouros$b Pavlos E$01801694 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910956017003321 996 $aCorporate law and economic stagnation$94347064 997 $aUNINA LEADER 04851nam 22007935 450 001 9910951801203321 005 20251204105159.0 010 $a9789819785698 010 $a9819785693 024 7 $a10.1007/978-981-97-8569-8 035 $a(CKB)37391388800041 035 $a(MiAaPQ)EBC31892405 035 $a(Au-PeEL)EBL31892405 035 $a(OCoLC)1498712517 035 $a(BIP)120007636 035 $a(BIP)116322087 035 $a(DE-He213)978-981-97-8569-8 035 $a(EXLCZ)9937391388800041 100 $a20250125d2024 u| 0 101 0 $aeng 135 $aur||||||||||| 181 $ctxt$2rdacontent 182 $cc$2rdamedia 183 $acr$2rdacarrier 200 10$aCreative Co-evolution of the Economies and Welfare States in the Nordic Countries /$fedited by Norio Tokumaru, Chino Yabunaga, Yuriko Shibayama 205 $a1st ed. 2024. 210 1$aSingapore :$cSpringer Nature Singapore :$cImprint: Springer,$d2024. 215 $a1 online resource (0 pages) 225 1 $aEvolutionary Economics and Social Complexity Science,$x2198-4212 ;$v32 311 08$a9789819785681 311 08$a9819785685 327 $aChapter 1. Introduction -- Chapter 2. The Making of the Welfare State in Finland -- Chapter 3. Agrarian Party and Kela: Evolutionary Development of Finnish Social Policy -- Chapter 4. Family and the Evolutionary Development of the Welfare States: A Comparison of the Discourse on Child and Family Policy in Finland and Japan -- Chapter 5. Industrial Transformation, Innovation, and the Enabling Roles of the Nordic Welfare State -- Chapter 6. The Potential of the Co-creation Approach to Create Innovation to Better Meet the Needs of Communities -- Chapter 7. Understanding the Change of the Finnish Digital Health and Welfare Ecosystems -- Chapter 8. Innovation and Social Capital in Nordic Welfare States: The Advantages of Nordic Societies in a Modern Economy -- Chapter 9. Creative Evolution of Finnish Regional Governance -- Chapter 10. The Evolution of Finnish Welfare State and its Structural Reforms of Welfare Provision -- Chapter 11. Adaptation of Finnish Welfare State to a Post-industrial Society: Practicing ?The Consensus Model of Democracy? through Formation of Diverse Coalition Governments -- Chapter 12. The Future(s) of the Welfare State -- Chapter 13. Glossary. 330 $aThis book analyses the changes of welfare states, examining their sustainability enabled by innovative adaptations. On the basis of evolutionary social sciences, the authors understand the welfare states as complex adaptive systems, in which the actors? perceptions, strategies and behaviours change in adaptive manners, which results in institutional changes. From this perspective, the dynamics of Nordic welfare states, mainly Finland as the Nordic welfare state under the greatest pressure to adapt, is analysed from the multiple perspectives of history, politics, economics and social policy. Through these analyses, the authors show that the long-term changes in welfare states can be creative evolutionary processes in which the experiences, cognitive frameworks, resources and capacities of different actors allow for diverse responses and, as a result of interaction, diverse outcomes. The book also illustrates the historical processes of welfare states? formation that have created the human and social resources and capabilities that enable innovative responses today. . 410 0$aEvolutionary Economics and Social Complexity Science,$x2198-4212 ;$v32 606 $aEvolutionary economics 606 $aInstitutional economics 606 $aEconomic policy 606 $aSocial policy 606 $aEconomics 606 $aComparative government 606 $aInstitutional and Evolutionary Economics 606 $aEconomic Policy 606 $aSocial Policy 606 $aPolitical Economy and Economic Systems 606 $aComparative Politics 606 $aComparative Public Policy 615 0$aEvolutionary economics. 615 0$aInstitutional economics. 615 0$aEconomic policy. 615 0$aSocial policy. 615 0$aEconomics. 615 0$aComparative government. 615 14$aInstitutional and Evolutionary Economics. 615 24$aEconomic Policy. 615 24$aSocial Policy. 615 24$aPolitical Economy and Economic Systems. 615 24$aComparative Politics. 615 24$aComparative Public Policy. 676 $a361.948 700 $aTokumaru$b Norio$01801446 701 $aYabunaga$b Chino$01801447 701 $aShibayama$b Yuriko$01801448 801 0$bMiAaPQ 801 1$bMiAaPQ 801 2$bMiAaPQ 906 $aBOOK 912 $a9910951801203321 996 $aCreative Co-Evolution of the Economies and Welfare States in the Nordic Countries$94346692 997 $aUNINA