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The theory and practice of government de-regulation

Institutional Approach to Global Corporate Governance: Business Systems and Beyond

ISBN: 978-1-84855-320-0, eISBN: 978-1-84855-321-7

Publication date: 1 November 2008

Abstract

This chapter describes how governments and regulators could introduce selective de-regulation based on exempting corporations from existing practices when they amend their constitutions to provide superior outcomes for investors and other stakeholders. An example is presented on how a company efficiently raised new equity through constitutional changes that also allowed the regulator to exempt it from the compliance processes and costs of changing auditors. System science is used to argue that the introduction of self-enforcing co-regulation based on outcomes rather than practices could introduce competition for developing the most efficient and effective regulation by both companies and regulators.

Citation

Turnbull, S. (2008), "The theory and practice of government de-regulation", Choi, J.J. and Dow, S. (Ed.) Institutional Approach to Global Corporate Governance: Business Systems and Beyond (International Finance Review, Vol. 9), Emerald Group Publishing Limited, Leeds, pp. 117-139. https://doi.org/10.1016/S1569-3767(08)09006-7

Publisher

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Emerald Group Publishing Limited

Copyright © 2008, Emerald Group Publishing Limited