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openyls.law.yale.edu · 8,678 words · saved by 1 readers

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ESSAY The End of History for Corporate Law HENRY HANSMANN* AND REINIER KRAAKMAN** INTRODUCTION Much recent scholarship has emphasized institutional differences in corporate governance, capital markets, and law among European, American, and Japanese companies.' Despite very real differences in the corporate systems, the deeper tendency is toward convergence, as it has been since the nineteenth century. The basic law of corporate governance-indeed, most of corporate law-has achieved a high degree of uniformity across developed market…

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