The market for management services
Introduction: The market for management services is simply defined
market for managerial labor. This
market is of
importance in corporate governance because it affects the incentives of
managers and thereby
the economic efficiency of the corporations they manage. A
classic reference on the market for management services is Fama [1980b].
of markets for management services on corporate performance and other other
kinds of institutions of relevance for corporate governance.
Table - International corporate governance: Tentative
characterizations of legal and empirical state of large firm markets for management services as of 1980-95: 1) Developing countries. 2) Germany. 3)
Japan. 4) Anglo-American countries. 5) Denmark.