The Cross-National Diversity of Corporate Governance: Dimensions and Determinants

Ruth V. Aguilera and Gregory Jackson
Additional contact information
Ruth V. Aguilera: U of Illinois at Urbana-Champaign
Gregory Jackson: Research Institute of Economy, Trade and Industry, Tokyo

Working Papers from University of Illinois at Urbana-Champaign, College of Business

Abstract: Corporate governance lies at the heart of contemporary debates over internationalization and varieties of capitalism. Despite this growing attention to cross-national diversity, a unified comparative framework remains elusive. This article develops a theoretical model to describe and explain variation in corporate governance among advanced capitalist economies. It identifies the social relations and institutional arrangements that shape: (1) who controls corporations, (2) what interests corporations serve, and (3) the allocation of rights and responsibilities among corporate stakeholders. Our "actor-centered" institutional approach explains firm-level corporate governance practices in terms of institutional factors that shape how actors' interests are defined ("socially constructed") and represented. Specifically, we predict how different national institutional settings will influence the respective roles of three stakeholders (capital, labor and management) in the corporate governance equation. Our model has strong implications for studying issues of international convergence by exploring the institutional interdependencies, complementarities and tensions within national settings.

Date: 2002
References: Add references at CitEc
Citations: View citations in EconPapers (2)

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:ecl:illbus:02-0108

Access Statistics for this paper

More papers in Working Papers from University of Illinois at Urbana-Champaign, College of Business Contact information at EDIRC.
Bibliographic data for series maintained by ().