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Corporate Governance, Labour Regulation and Legal Origin: a case of institutional complementarity?

Professor Simon Deakin
University of Cambridge
Email: s.deakin@cbr.cam.ac.uk|

Date: 18 January 2005
Time
: 1:00pm - 2:30pm
Venue
: CARR Seminar Room, H615

Abstract

According to the influential work of La Porta et al., persistent divergences between national-level systems of corporate governance can be explained by reference to their legal origin, that is to say, their roots in one of the principal legal families. The contrast here is drawn between systems of the common law and those of the civil law, with the civilian world further subdivided into French-influenced, Germanic and Scandinavian groupings. The present paper examines the legal origin hypothesis with reference to one of its more recent applications, namely the regulation of labour. It is argued that legal origin may well be associated with the persistence of diversity across the 'varieties of capitalism', but not for the reasons offered by La Porta et al., which rest on an inaccurate characterisation of the common law/ civil law divide.

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