Corporate Governance and Director Accountability: an Institutional Comparative Perspective<sup>*</sup>

Aguilera, Ruth V.

doi:10.1111/j.1467-8551.2005.00446.x

Cited by 307 publications

(263 citation statements)

References 64 publications

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“…For example, large firms with sufficient resources can more easily buffer these systemic costs, while smaller firms with greater resource constraints may be unable to comply and consequently face disproportional additional costs if forced to de-list from the stock exchange. The phenomenon of delisting due to higher compliance costs is also more likely among foreign firms, since listing requires greater adaptation to US standards (Aguilera, 2005).…”

Section: Costsmentioning

confidence: 99%

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

Aguilera

Filatotchev

Gospel

et al. 2008

Organization Science

Self Cite

668

219

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This is the accepted version of the paper.This version of the publication may differ from the final published version.  We would like to thank the UK Department for Trade and Industry with support for the research on which this study was based. The authors would like to thank the participants of seminars and workshops at Cass Business School, University of Groningen, University of Auckland, UK AIB Chapter (King's College London), Copenhagen Business School, the editor and two anonymous reviewers for their helpful comments on earlier drafts. The authors are listed alphabetically and contributed equally to this paper. Permanent repository link AN ORGANIZATIONAL APPROACH TO COMPARATIVE CORPORATE GOVERNANCE: COSTS, CONTINGENCIES, AND COMPLEMENTARITIES ABSTRACTThis paper develops an organizational approach to corporate governance and assesses the effectiveness of corporate governance and implications for policy. Most corporate governance research focuses on a universal link between corporate governance practices (e.g. board structure, shareholder activism) and performance outcomes, but neglects how interdependences between the organization and diverse environments lead to variations in the effectiveness of different governance practices. In contrast to such 'closed systems' approaches, we propose a framework based on 'open systems' approaches to organizations which examines these organizational interdependencies in terms of the costs, contingencies, and complementarities of different corporate governance practices. These three sets of organizational factors are useful in analyzing the effectiveness of corporate governance in diverse organizational environments. We also explore how costs, contingencies, and complementarities impact effectiveness of different governance aspects through the use of stylized cases and discuss the implications for different approaches to policy such as 'soft-law' or 'hard law'.

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Section: Costsmentioning

confidence: 99%

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

Aguilera

Filatotchev

Gospel

et al. 2008

Organization Science

Self Cite

668

219

View full text Add to dashboard Cite

show abstract

“…Reforms brought out in different countries indicated towards providing more independence to the board. As per Aguilera (2005), corporate governance reformers are increasingly focusing on NEDs/independent outside directors with a hope that they will bring greater transparency, accountability, and efficiency to corporate governance. In the UK, Higgs committee recommended half of the members of board should be independent NEDs (Enriques, 2003).…”

Section: Board Compositionmentioning

confidence: 99%

“…In Germany, the supervisory board (Aufsichtsrat) is by law composed of independent or NEDs and includes employee representatives. One of the key goals of this board structure is to ensure independence of the two boards by making sure that executives are not too powerful (Aguilera, 2005).…”

Section: Board Compositionmentioning

confidence: 99%

Study on theories and mechanisms of corporate governance

Mishra

Kapil

2017

IJAAPE

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This paper aims to review the theories of corporate governance for understanding the theoretical basis of corporate governance mechanisms. Major theoretical studies on corporate governance, including studies done in emerging economies, are included in the review. The paper looks at corporate governance theories from value creation point of view. It is observed that the two perspectives of corporate governance, i.e., shareholder and stakeholder perspectives, are not in contrast to each other but are pointing towards the same goal, i.e., value creation. However, one points towards value creation for shareholders and the other points towards creation of societal value. While reviewing theoretical underpinnings and assumptions for corporate governance perspectives, due consideration has been given to the development of corporate governance mechanism based on various existing theories. A theoretical framework for understanding the relationship between corporate governance mechanism and corporate performance has been proposed. Emerging challenges for corporate governance theories have also been indicated. This being a review paper, one of the major limitations is an unintentional omission of some literature because of non-availability or non-reachability. Literature that would have been present in languages other than English could also not been included in the review.

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“…There are many theories to illustrate corporate governance. Aguilera (2005) though that corporate governance could provide functions to ensure stakeholders having the greatest profit and working efficiency. Agency Theory argued that shareholder possesses the right, but unable to have an influence to firm's operation policy.…”

Section: Corporate Governancementioning

confidence: 99%

Corporate Governance and Innovation Ability: Empirical Study of Taiwanese Electronics Manufactures

Tseng

Wu²,

Lin³

2013

IBR

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Since corporate scandals in the last decade, corporate governance system has been highly focused, besides, now under knowledge-based economy the innovation ability of enterprises is a key factor to enterprise's success. However, how the board of directors effects firms' innovation ability has been rarely explored. Generally, it is thought that corporate governance could provide functions to bring stakeholders the greatest profit and have better operating efficiency. Precious study proved that corporate governance is related to corporate performance. This study discusses the relationship between board of directors and the firm's innovation ability, including size of board directors, proportion of shareholding and traits of board of directors. By using patent counts as an index to measure a firm's innovation ability, this study examined 255 public listed electronic firms in Taiwan by using unbalanced 5 year panel data. This study adopts one way fixed effect model to evaluate parameters of model, and use F-test to examine the explanatory power of a model. Finally, this study shows how the corporate governance system affects firms' innovation ability, and provides suggestion that how corporate governance system, board directors and other traits are effective in firms innovation ability.

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Corporate Governance and Director Accountability: an Institutional Comparative Perspective^*

Cited by 307 publications

References 64 publications

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

Study on theories and mechanisms of corporate governance

Corporate Governance and Innovation Ability: Empirical Study of Taiwanese Electronics Manufactures

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Corporate Governance and Director Accountability: an Institutional Comparative Perspective*

Cited by 307 publications

References 64 publications

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

An Organizational Approach to Comparative Corporate Governance: Costs, Contingencies, and Complementarities

Study on theories and mechanisms of corporate governance

Corporate Governance and Innovation Ability: Empirical Study of Taiwanese Electronics Manufactures

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Product

Resources

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Corporate Governance and Director Accountability: an Institutional Comparative Perspective^*