This edited volume contains original papers examining issues
concerning the effects of national and international institutional
factors on corporate governance and performance. This volume
stresses the relevance of national business systems (including
culture, law and politics) alongside industrial and institutional
infrastructure to assess the efficacy of corporate governance
regimes. Modern governance research redefines the boundaries of the
firm to include a wider group of stakeholders beyond stockholders.
Newer research indicates that national context is the over-riding
element in understanding corporate governance regulation and
outcome. In the Anglo-Saxon world, corporate governance is designed
to reduce the conflict of interest that exists between owners and
managers occasioned by the separation of ownership and control. The
divergence in national business systems has led scholars to
question whether the rush to adopt US-style regulation
internationally is appropriate. The papers in this volume highlight
aspects of institutional context in different countries, ranging
from traditional corporate governance mechanisms at the firm level,
to issues affecting the country level quality of corporate
governance, including culture and the role of elites.
General
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