Pathways to Corporate Convergence? Two Steps on the Road to Shareholder Capitalism in Germany
5 Colum. J. Eur. L. 219 (1999) Jeffrey N. Gordon. Alfred W. Bressler Professor of Law, Columbia University Law School. One of the most interesting current debates in corporate law is whether worldwide corporate governance will ultimately converge on a single model in light of the increasing globalization of capital markets, and if so, whether it will be an Anglo-American model whose features are shaped by the shareholder primacy norm. Convergence skeptics have focused on the embeddedness of governance systems in national political structures that tend to protect both entrenched insider interests and non-shareholder constituencies against the incursions of Anglo-American […]