Globalization and Corporate Governance Convergence: The Multinational Corporation as a Neglected Agent of Convergence

Katarina Sikavica and Toru Yoshikawa

Chapter 10 in The Convergence of Corporate Governance, 2012, pp 212-233 from Palgrave Macmillan

Abstract: Abstract In the context of corporate governance, convergence refers to increasing isomorphism in the governance practices of public corporations across different national corporate governance systems. Among the factors that drive convergence, scholars have pointed to economic globalization and the increasing integration of capital markets, information flows, transportation, and trade (Khanna, Kogan, and Palepu, 2006; Khanna and Palepu, 2004). Such integration prompts convergence of economic institutions, and legal and regulatory frameworks thereby promoting homogeneous formal rules and regulation across corporate governance systems (Khanna et al., 2006). As a result, much of the research centering on the implications of globalization has investigated what is commonly referred to as ‘formal’ (Gilson, 2004) or ‘de jure’ (Khanna et al., 2006) convergence and has largely focused on isomorphism in regulatory frameworks and legal rules.

Keywords: Corporate Governance; Local Firm; Strategic Management Journal; Parent Firm; Foreign Subsidiary (search for similar items in EconPapers)
Date: 2012
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-02956-0_10

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DOI: 10.1057/9781137029560_10

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