ForewordPatrick T. Harker and Gabriel Hawawini: ForewordKlaus Schwab: Contributors 1 Introduction: Peter K. Cornelius and Bruce Kogut: Corporate Governance and Capital Flows in a Global Economy Part I: Current and Emerging Challenges in Corporate Governance Enron and Its Aftermath 2 What Caused Enron?: John C. Coffee, Jr.: A Capsule of Social and Economic History of the 1990's 3 Chareholder Value, Corporate Governance, and Corporate Performance: Margaret M. Blair: A Post-Enron Reassessment of the Conventional Wisdom 4 The Bubble and the Media: Alexander Dyck and Luigi Zingales: Expanding the Purview of Governance: Employees and Early Investors 5 Employees and Corporate Governance: Mary O'Sullivan: 6 Venture Capital and Corporate Governance: Franklin Allen and Wei-ling Song: Part II: Corporate Governance, Economic Development, and Cross-Border Capital Flows Capital Flows and Multinational Corporations 7 Prospects for Emerging-Market Flows Amid Investor Concerns About Corporate Governance: Helmut Reisen: 8 Direct Investment and Corporate Governance: Will Multinational Corporations Tip Countries Toward Institutional Change?: Bruce Kogut and J. Muir Macpherson: 9 Corporate Risk Assessment and Business Strategy: Withold J. Henisz and Jonathan Story: A Prime Task for Senior Management Role of Foreign Banks in Governance 10 Foreign Bank Ownership and Corporate Governance in Emerging-Market Economies: Peter K. Cornelius: 11 Emerging Owners, Eclipsing Markets?: Erik Bergloef and Anete Pajuste: Corporate Governance in Central and Eastern Europe Law and Governance 12 Corporate Governance and Private Capital Flows to Latin America: Alberto Chong, Alejandro Izquierdo, Alejando Micco, and Ugo Panizza: 13 Institutions, Corporate Governance and amd Crises: Daron Acemoglu and Simon Johnson: 14 Of Legal Transplants, Legal Irritants, and Economic Development: Katharina Pistor and Daniel Berkowitz: Part III: Investors' and Practitioners' Perspectives Governance Seen by the Minority Shareholder 15 Portfolio Investment in Emerging Markets: Michael J. Johnston: An Investor's Perspective 16 Corporate Governance, Public Policy, and Private Investment Decisions, 2002: William Dale Crist: 17 Corporate Governance: Mark Mobius: Responsibilities of Fund Managers and Institutional Investors 18 Corporate Governance and Private Equity Investments: Max Burger-Calderon, Philipp Gusinde, and Stefan Hoffman Corporate Governance in Transition: China, Russia, and Poland 19 Corporate Governance in Mainland China: Anthony Neoh: Where Do We Go from Here? 20 Governance in an Emerging Financial Market: Igor Kostikov: The Case of Russia Governance in an Emerging Financial Market: Wieslaw Rozlucki: The Case of Poland Social Corporate Responsibility and the New Learning 22 Corporate Values, Enterprise Risk, and the Board: Michael J. Philips: 23 Redefining the Role and Content of Corporate Governance from the Perspective of Business in Society and Corporate Social Responsibility: Lutgart van den Berghe, in collaboration with Steven Carchon: Ira M. Millstein and Holly J. Gregory: Learning From Our Mistakes