Corporate Governance: Does One Size Fit All?

A variety of corporate governance practices have been adopted by various world regulators in the past 20 years. Unfortunately, the evidence suggests that mandating corporate governance practices and corporations' voluntarily use of Anglo-Saxon practices both seem to lead to suboptimal firm performance, whether those practices are principle based, as in the British system, or rules based, as in the American system. (C) 2013 Wiley Periodicals, Inc.