Governing complexity to challenge neoliberalism? Embedded firms and the prospects of understanding new realities

Wafa Khlif, Thomas Clarke, Lotfi Karoui, Konan A. Seny Kan () and Coral Ingley
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Wafa Khlif: TBS - Toulouse Business School
Thomas Clarke: UTS - University of Technology Sydney
Lotfi Karoui: EM Normandie - École de Management de Normandie = EM Normandie Business School
Konan A. Seny Kan: University of Otago (New Zealand, Dunedin)
Coral Ingley: AUT - Auckland University of Technology

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Abstract: Many initial assumptions about the appeal of global development and governance have run aground on the shoals of countervailing realities and interests. The overall trend of political despair and disillusionment, the loss of confidence in the markets as a unique arbiter of value creation and distribution, and the marketable appeal of governance best practices seem to have reached their nadir. Management literature has begun to question these issues and to call for a deeper understanding of the dynamics of political, social and corporate change. The question of (corporate) governance is plural and needs multilevel approaches to meet the new challenges of complex realities, especially the pressure of neoliberalism with two central consequences: financialization and globalization of economies. In this reflexive article, we aim to initiate avenues for new thinking at the institutional, corporate and academic levels. Institutional and regulatory frameworks need to be seen as local systems connected internationally and not global systems adapted locally. Theoretical frameworks need to be more integrated to grasp the same phenomena with multiple lenses. Methodological approaches and tools need also to be reinforced mutually to overlay the dichotomic examination of these complex realities.

Keywords: Complexity; Corporate governance; Global; Local; Neoliberalism (search for similar items in EconPapers)
Date: 2019-10-01
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Published in European Management Journal, 2019, 37 (5), pp.601 - 610. ⟨10.1016/j.emj.2019.09.001⟩

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Persistent link: https://EconPapers.repec.org/RePEc:hal:journl:hal-05603070

DOI: 10.1016/j.emj.2019.09.001

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