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Shareholder primacy Corporate Governance and financial market growth

Special issue call for papers from Corporate Governance

Overview of the Theme
Since the late 1990s, countries have been encouraged by international financial organisations to adopt a shareholder primacy corporate governance model. It was anticipated that in an increasingly globalised financial market, countries which introduced corporate governance practices that favour investors would gain a comparative advantage and attract more capital leading to financial market growth.

There has been some empirical research to find out if adopting shareholder primacy norms has had any impact on the growth of the financial market. However most of these studies have been inconclusive. This special issue shall focus on empirically finding out if country level macro changes in corporate governance regulations have any impact on the financial market growth in that country. We would like to especially encourage papers reflecting the developing country experience.

Papers may address variety of topics but we encourage contributions that deal with the issues outlined below. However, this is a non-exhaustive list:

  • Macro empirical analysis of legislation in sphere of corporate governance in one or more countries
  • Panel data analysis of changes in corporate governance policies of a country.
  • Empirical analysis on the linkage between corporate governance practices and investment flows in a country
  • Empirical analysis on the impact of corporate governance models on the development or dynamics of financial market.


Completed papers of between 5,000-7,000 words in length should be submitted via the Corporate Governance online submission site no later than July 31, 2018: (select the correct special issue from the dropdown menu).

  • Full paper submission: July 31, 2018
  • Revised paper submissions: November 30, 2018
  • Expected formal publication date (print and online): February 2019

Submissions should follow Corporate Governance author guidelines at

Contact Details
Guest Editor
Dr. Navajyoti Samanta
School of Law
University of Sheffield
Email: [email protected]

Prof. Andrew Johnston
School of Law
University of Sheffield
Email: [email protected]