An organizational approach to comparative corporate governance: Costs, contingencies, and complementarities
Опубликовано на портале: 24-11-2008
Organization Science.
2008.
Vol. 19.
No. 3.
P. 475-492 .
Тематические разделы:
This paper develops an organizational approach to corporate governance and assesses
the effectiveness of corporate governance and implications for policy. Most corporate
governance research focuses on a universal link between corporate governance practices
(e. g., board structure, shareholder activism) and performance outcomes, but neglects
how interdependencies between the organization and diverse environments lead to variations
in the effectiveness of different governance practices. In contrast to such closed
systems approaches, we propose a framework based on open systems approaches to organizations,
which examines these organizational interdependencies in terms of the costs, contingencies,
and complementarities of different corporate governance practices. These three sets
of organizational factors are useful in analyzing the effectiveness of corporate
governance in diverse organizational environments. We also explore the impact of
costs, contingencies, and complementarities on the effectiveness of different governance
aspects through the use of stylized cases and discuss the implications for different
approaches to policy such as soft law or hard law.
Ключевые слова
См. также:
WZB Discussion Paper.
1995.
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Oxford Review of Economic Policy.
2003.
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Industrial and Corporate Change.
2008.
Vol. 17.
No. 1.
P. 1-27.
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