Corporate Governance and Its Political Economy

Roe, Mark J.; Vatiero, Massimiliano

doi:10.2139/ssrn.2588760

Cited by 7 publications

(9 citation statements)

References 17 publications

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“…Moreover, countries have not simply held to one system but have changed over time. 3 This work, in accordance with the so-called 'politics-school' (Roe, 1994(Roe, , 2003(Roe, , 2005(Roe, , 2006Gourevitch, 2003;Rajan and Zingales, 2003;Gourevitch and Shinn, 2005;Pagano and Volpin, 2005;Perotti and von Thadden, 2006;Pagano, 2012;Belloc and Pagano, 2013;Roe and Vatiero, 2016), originated by the contributions of Veblen, Berle and Means, analyses the corporation as mostly a 'political construct'; 4 this means that corporate governance arrangements inside the firm among constituents (in particular, managers, owners and workers) interact deeply with a nation's politics (cf. Roe, 2003).…”

Section: Introductionmentioning

confidence: 65%

“…5. Roe and Vatiero (2016) illustrate some limit of this approach based on politics. Among others, too many political explanations are local and historical.…”

Section: Discussionmentioning

confidence: 99%

“…27. See Roe and Vatiero (2016). The general idea is that weaker product markets and the concomitant monopoly rents can affect corporate governance by establishing a fertile field where controlling shareholders can cooperatively split rents with incumbent workers.…”

Section: Discussionmentioning

confidence: 99%

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On the (Political) Origin of ‘Corporate Governance’ Species

Vatiero

2016

Journal of Economic Surveys

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Although economies, business practices, and living standards have converged since WWII, corporate structures continue to differ among the advanced economies of the world. Looking at the diversity of corporate structures of large-sized firms around the world (and over time) would fascinate Charles Darwin. This work develops a critical review of the literature on political determinants of corporate governance through the Darwinian theory (including some Lamarckian aspects). As Darwin, in his work On the Origin of Species, explicates the diversity of species of tortoises, finches, and iguanas of the Galapagos Islands, so Darwinism may contribute in understanding the origin and the persistence of corporate diversity. In particular, this article takes into account politics-driven variations, their inheritances, and the subsequent selection of advantageous 'corporate' attributes.JEL Code: G30, K22, J50

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Section: Introductionmentioning

confidence: 65%

“…5. Roe and Vatiero (2016) illustrate some limit of this approach based on politics. Among others, too many political explanations are local and historical.…”

Section: Discussionmentioning

confidence: 99%

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On the (Political) Origin of ‘Corporate Governance’ Species

Vatiero

2016

Journal of Economic Surveys

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“…Moreover, countries have not simply held to one system but have changed over time. 3 This work, in accordance with the so-called 'politics-school' (Roe 1994(Roe , 2003(Roe , 2005(Roe , 2006Gourevitch 2003;Rajan and Zingales 2003;Pagano and Volpin 2005;Gourevitch and Shinn 2005;Perotti and von Thadden 2006;Pagano 2012;Belloc and Pagano 2013;Roe and Vatiero 2016), originated by the contributions of Veblen, Berle and Means, analyses the corporation as mostly a 'political construct'; 4 this means that corporate governance arrangements inside the firm among constituents (in particular, managers, owners, and workers) interact deeply with a nation's politics (cf. Roe 2003).…”

Section: Introductionmentioning

confidence: 73%

“…7 In accordance with Darwin, there must be sustained and abundant variations among the members of a species--in biology, variations involve genetic recombination. Second, there must be some mechanism through which characteristics are passed on via heredity 5 Roe and Vatiero (2016) illustrate some limit of this approach based on politics. Among others, too many political explanations are local and historical.…”

Section: Introductionmentioning

confidence: 99%

On the (Political) Origin of Corporate Governancee Species

Vatiero

2015

SSRN Journal

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Dominant market position and ordoliberalism

Vatiero

2015

Int Rev Econ

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The ordoliberal distinction between performance competition and impediment competition may improve the understanding of the European distinction between a ''dominant position'' and an ''abuse'' of that position. Using a simple game-theory framework, I illustrate the dominant firm as a firm with, among other things, a dominant strategy in performance competition. If, due to the impediment condition, the dominant firm abandons its dominant strategy in the performance competition, then this firm is conducting abusively. In other words, the dominant firm should behave as-if it did not have economic power. It is the formulation of the ordoliberal as-if standard. As I show, such an ordoliberal standard leads to a wider concept of dominance that not only includes the economic domain but also considers the impact of private economic power on the political sphere.

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Corporate Governance and Its Political Economy

Cited by 7 publications

References 17 publications

On the (Political) Origin of ‘Corporate Governance’ Species

On the (Political) Origin of ‘Corporate Governance’ Species

On the (Political) Origin of Corporate Governancee Species

Dominant market position and ordoliberalism

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