Comparative corporate governance: Competitive implications of an emerging convergence

Michael J. Rubach and Terrence C. Sebora

Journal of World Business, 1998, vol. 33, issue 2, 167-184

Abstract: Corporate governance scholarship posits that the governance structure of a firm affects its competitive performance. As governance structures and systems initially developed, differing legal, financial, and cultural factors caused them to vary. Divergent paths resulted in multiple governance forms. Presently, evidence is growing that these governance systems are changing and are beginning to look more alike. This convergence can be viewed as the adoption of the best practices of the existing systems. During convergence, some firms can gain competitive advantage by altering their governance structures to incorporate elements that global stakeholders appear to value. This is true for companies in both emerging and established economies.

Date: 1998
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