Introduction to the Network

Recent corporate governance scandals in the United States and Europe, some of which have triggered the largest insolvencies in history, have caused a crisis of confidence in the corporate sector. As a result, corporate governance has entered the vocabulary of not only of researchers but also of pension fund beneficiaries, employees of all ranks, chief executive officers and Prime Ministers. Improving corporate governance is now recognized in most countries and policy circles to have first-order macroeconomic consequences and has become a mainstream concern.

The European Corporate Governance Training Network (ECGTN) will reduce the European research and training gap in corporate governance by bringing together Europe's leading academics and institutions from law, economics, finance, political economy and management to train doctoral students in conducting world class research in this area.

The ECGTN project is funded by the European Commission under the Marie Curie Research Actions. Its duration is 48 months, starting in June 2004. The Co-ordinator of the network will be Marco Becht of the Centre for Economic Policy Research (CEPR).

For the duration of this project, this ECGTN website, www.ecgtn.org, will act as a focal point of information and communication for all those involved in the project and in the general interest for the public at large. In particular, it will highlight the network's research.

Summer school in Santander 11-15 August CORPORATE GOVERNANCE ECONOMIC, FINANCIAL, AND LEGAL PERSPECTIVES This Summer School will provide an introduction on current corporate governance issues from an economic, financial, and legal perspective. The focus will be on issues associated with external financing of firms, managerial discretion, and small investor protection. The aim of the Summer School is both to develop the general principles of corporate governance, and to provide a comparative institutional perspective of corporate governance arrangements across countries. The lectures will also be based on several case studies Further details can be found on the CEMFI website.

See some photographs taken by Early Stage Researchers during the course of workshops, conferences and summer schools and the social events that accompanied them.