american strongfinancestrong association - ndhu.edu.tw.pdf

American Finance Association A Survey of Corporate Governance Author(s): Andrei Shleifer and Robert W. Vishny Source: The Journal of Finance, Vol. 52, No. 2 (Jun., 1997), pp. 737-783 Published by: Blackwell Publishing for the American Finance Association Stable URL: /stable/2329497 Accessed: 01/10/2009 12:49 Your use of the JSTOR archive indicates your acceptance of JSTORs Terms and Conditions of Use, available at /page/info/about/policies/terms.jsp. JSTORs Terms and Conditions of Use provides, in part, that unless you have obtained prior permission, you may not download an entire issue of a journal or multiple copies of articles, and you may use content in the JSTOR archive only for your personal, non-commercial use. Please contact the publisher regarding any further use of this work. Publisher contact information may be obtained at /action/showPublisher?publisherCode=black. Each copy of any part of a JSTOR transmission must contain the same copyright notice that appears on the screen or printed page of such transmission. JSTOR is a not-for-profit service that helps scholars, researchers, and students discover, use, and build upon a wide range of content in a trusted digital archive. We use information technology and tools to increase productivity and facilitate new forms of scholarship. For more information about JSTOR, please contact support@. Blackwell Publishing and American Finance Association are collaborating with JSTOR to digitize, preserve and extend access to The Journal of Finance. THE JOURNAL OF FINANCE . VOL. LII, NO. 2 . JUNE 1997 A Survey of Corporate Governance ANDREI SHLEIFER and ROBERT W. VISHNY* ABSTRACT This article surveys research on corporate governance, with special attention to the importance of legal protection of investors and of ownership concentr