Regulating Competitively: Corporate Governance Reform for the Long Run
Bibliographic record
Abstract
and Andrei Shleifer are gratefully acknowledged. 1 Executive Summary Corporate governance is important. Companies that subscribe to higher standards of corporate governance earn higher valuations in financial markets. Countries that impose higher standards of corporate governance have larger stock markets and higher standards of living. The unwillingness of certain countries and corporate insiders to accept the importance of good corporate governance can be likened to the unwillingness of certain narrow special interests to support free trade. Good governance restricts the freedom of action of powerful insiders in large, established corporations. The ill of this must be balanced against the good that good governance achieves by solidifying public investors’ private property rights and thereby helping new issuers raise money. Canada scores well on most metrics of corporate governance, and Canadian regulators and exchanges deserve appreciation for that. But Canada is seldom a world leader in setting forth best practices. In particular, Canada lags in certain aspects of
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How this classification was reachedexpand
Full frame machine prediction
Teacher imitationNot calibrated prevalence, not ground truth. Human validation pending. The Gemma side is a direct model label for every work in the frame, read from the title-only record. The Codex side is a classifier learned from the 10,348 direct Codex labels and calibrated to design-weighted sample rates; fields without enough sample support carry no Codex call. Candidate is the union of the two sides; consensus is their intersection. These outputs are machine_predicted_unvalidated and are not human labels.
Distilled classifier scores by category (both heads)
| Category | Codex | Gemma |
|---|---|---|
| Metaresearch | 0.006 | 0.011 |
| Meta-epidemiology (narrow) | 0.000 | 0.000 |
| Meta-epidemiology (broad) | 0.000 | 0.000 |
| Bibliometrics | 0.001 | 0.001 |
| Science and technology studies | 0.005 | 0.006 |
| Scholarly communication | 0.005 | 0.004 |
| Open science | 0.001 | 0.002 |
| Research integrity | 0.004 | 0.006 |
| Insufficient payload (model declined to judge) | 0.010 | 0.001 |
Machine scores (provisional)
The two teacher heads of the student model, read on this work. A score orders the frame for review; it never asserts a category, and the validation status ships verbatim with every row.
Baseline scores from an immature model (maturity gate not passed, 7 training rounds). Scores rank; they never assert a category.
score_only:v0-immature-baseline · verbatim from the scoring run: score_only means the number may rank works, and no category label ships from itClassification
machine, unvalidatedMachine predicted; a candidate call from one source (direct Gemma or distilled Codex), not a consensus.
How this classification was reached, model by model and score by score, is at the end of the page under "How this classification was reached".