Corporate governance is an active area of research and public debate. The recent generalization of "shareholder value" ideas and institutional investment, the establishment of codes of best practice for boards of directors, and the controversy about whether market oriented or bank/relations oriented systems are better for economic performance provide cogent examples. The volume takes stock of the most recent research in the topic, criticizes the standard agency view, and presents new ideas and analysis about the role of competition, the political economy of corporate governance, and the effects of different systems on growth and performance.