Corporate Governance in Comparative Perspective: Prospects for Convergence
29 Pages Posted: 12 Oct 2001
Abstract
Pundits of globalization predict the eventual demise of the stakeholder corporate governance model found in Europe and Japan and its replacement by the Anglo-American shareholder model. Were this to occur, it would sharply change the relationship of employees to their employer in many parts of the world. Yet it's not obvious that convergence is inevitable. There is considerable inertia and persistence of national governance models due to factors such as path dependence, bounded rationality, uncertain macroeconomic benefits, and weak globalization pressures. Moreover, while one can find evidence of institutional diffusion across borders, it occurs in multiple directions; not all roads lead to Wall Street.
Keywords: Corporate governance, comparative institutions, industrial relations
JEL Classification: P5, J5, K2, L2
Suggested Citation: Suggested Citation
Do you have a job opening that you would like to promote on SSRN?
Recommended Papers
-
Partnership, Ownership and Control: The Impact of Corporate Governance on Employment Relations
By Simon Deakin, Richard Hobbs, ...
-
Corporate Governance and Social Responsibility: A Comparative Analysis of the UK and the Us
By Ruth V. Aguilera, Cynthia A. Williams, ...
-
Finance, Corporate Governance and the Management of Labour: A Conceptual and Comparative Analysis
By Howard Gospel and Andrew Pendleton
-
Shareholder Primacy and the Trajectory of UK Corporate Governance
By John Armour, Simon Deakin, ...
-
Shareholder Primacy and the Trajectory of UK Corporate Governance
By John Armour, Simon Deakin, ...
-
The Financial Sector and Corporate Governance: The UK Case
By Chris Mallin, Andy W. Mullineux, ...
-
Governance as a Source of Managerial Discipline
By Julian R. Franks and Colin Mayer
-
By Tony Edwards
-
Can the UK Experience Provide Lessons for the Evolution of Sri in Japan?
By Aris Solomon, Jill F. Solomon, ...
