The Cross-National Diversity of Corporate Governance: Dimensions and Determinants

Aguilera, Ruth V.; Jackson, Grégory

doi:10.5465/amr.2003.10196772

Cited by 1,287 publications

(981 citation statements)

References 86 publications

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“…See, for example: Aguilera and Jackson [107]; Hoskisson, et al [108]; Husted and Allen [109]; Jamali [5]; Namada and Bagirea [40]; and Zhao, et al [110]. The quest for a deeper comparative understanding of institutions and CSR practices for the engineering of innovative solutions to sustainability questions is now imperative.…”

Section: Institutional Void and Differences In Csrmentioning

confidence: 99%

Institutional Voids and the Philanthropization of CSR Practices: Insights from Developing Economies

Ahen

Amankwah‐Amoah

2018

Sustainability

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Corporate social responsibility (CSR) practices and conceptions vary across sectors and nations. However, there is a general tendency among academics and practitioners to present CSR in Africa as activities characterized by philanthropy due to the existence of institutional voids. This review of the current literature demonstrates that weak institutions lead to weaker bargaining powers designed through the historical and geopolitical institutional frameworks of international business and global governance systems. Accordingly, multinational corporations (MNCs) take advantage of such weaknesses to define CSR on their own terms by replacing the ideal responsible and sustainable innovations with ad hoc philanthropy that diverts the attention from the negative consequences of neoliberal 'structures of accumulation'. This is akin to aid that hardly contributes to structural changes, but rather leads to complacency, corruption, dependency, boutique projects, disguised exploitation, and the misuse of corporate political power to achieve corporate bottom lines. The implications of the results are vast, and they are generalizable to all weaker institutional settings. Thus, weaker institutions create the necessary regulatory, political, economic, and governance climate that perpetuates a pattern of abuses and ethical violations that are then masked with philanthropy. It is argued that the fundamental institutional and geopolitical contexts within which MNCs interact with nation states cannot be ignored in any comprehensive analysis that seeks to meaningfully shed light on the comparative differences of CSR practices. The neglect of the web of contextual, historical, and geopolitical issues in which CSR is entrenched and framed diverts attention from the origins of the socio-economic and environmental questions to philanthropy as a final solution, which has hitherto been perpetuated with undesirable outcomes.

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Section: Institutional Void and Differences In Csrmentioning

confidence: 99%

Institutional Voids and the Philanthropization of CSR Practices: Insights from Developing Economies

Ahen

Amankwah‐Amoah

2018

Sustainability

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“…As a result of adding country-level variance to our analysis, we experienced additional difficulties in identifying the very specific contextual factors that explain more of the phenomena under investigation. Following Aguilera and Jackson (2003) and Matten and Moon (2008), there is a wide set of elements pertaining to organizations' environments at the country level that affects how organizations respond to their stakeholders. It is not only the variety of these elements that adds to their complexity, but also the different combinations of these contextual elements and interactions between environmental and organizational characteristics that are also required for a full explanation of organizational practices, corporate strategies, and firm behavior.…”

Section: Resultsmentioning

confidence: 99%

“…Outsider systems (referred to as the Anglo-American shareholder model) are characterized by dispersed ownership of firms and are systems in which markets for corporate control work as a crucial mechanism tackling agency problems between managers and shareholders. Conversely, insider systems (referred to as the stakeholder model in Continental European countries) are characterized by concentrated ownership and represent systems in which large shareholders play an important role in monitoring management (Aguilera & Jackson, 2003). Thus, the relationship between firms and their shareholders is expected to differ between these highly stylized governance systems (Aguilera, Filatotchev, Gospel, & Jackson, 2008).…”

Section: Hypothesis: Country Level Effectsmentioning

confidence: 99%

“…129-149, Apr./June 2015 www.anpad.org.br/bar shareholder supremacy prevails. The role of capital markets as a source of finance (Aguilera & Jackson, 2003) and the influence of shareholders on decision-making and managerial discretion (Crossland & Hambrick, 2007) provide explanations for the question of why corporations in the U.S. are explicit about their CSR policies and practices whereas in Europe they tend to be more implicit (Matten & Moon, 2008).…”

Section: Hypothesis: Country Level Effectsmentioning

confidence: 99%

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When a Thousand Words Are (Not) Enough: An Empirical Study of the Relationship between Firm Performance and Attention to Shareholders

Ferreira

2015

BAR, Braz. Adm. Rev.

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The aim of this study is to concurrently test the explanatory power of the attention-based view (ABV) of the firm and of the resource dependence theory (RDT). We propose a conceptual model of attention to shareholders based on assumptions of both ABV and RDT. We test these hypotheses using a unique dataset, consisting of contentanalyzed data on attention allocation for 313 firms from 24 different countries. Our research findings highlight the complementary nature of the RDT and ABV and add to the literature about attention, providing empirical evidence and theoretical explanation for the scarcely explored relationship between firm performance and organizational attention.

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“…This approach is important for identifying the social relations and institutional arrangements, corporate control mechanisms, the interests corporations serve and attachment of obligations to the identifiable stakeholders. The specific stakeholder centered perspective is essential as it reflects individual institutional governance practices which provide a basis to further explore the identified factors on a broader national level (Aguilera & Jackson, 2003).…”

Section: Conceptual and Theoretical Clarificationsmentioning

confidence: 99%

Corporate governance and resource management in Nigeria: a paradigm shift

Oyewunmi

2018

Problems and Perspectives in Management

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The underlying significance of instituting measures for effective corporate governance and rewarding resource management outcomes cannot be relegated. The countries and organizations that deemphasize this practice have mortgaged their potential for long-term growth and corporate sustainability. This paper adopts a critical narrative method to deconstruct the essence of corporate governance and economic resource management ideals. The paper furthers the ongoing conversations on two interrelated business concepts, and provides an apt perspective towards unlocking the essence of corporate governance relative to the Nigeria’s corporate environment. It depicts a corporate paradigm shift that accommodates the dynamics of global best practices taking into account some peculiarities of Nigeria’s corporate climate. The paper also captures relevant theoretical dimensions and pragmatic policy propositions, especially for underperforming socio-economic contexts. In the light of the central theme, specific issues are discussed under the sub-headings of conceptual and theoretical clarifications, corporate governance and resource management in Nigeria, shifting the paradigms, conclusion and recommendations.

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The Cross-National Diversity of Corporate Governance: Dimensions and Determinants

Cited by 1,287 publications

References 86 publications

Institutional Voids and the Philanthropization of CSR Practices: Insights from Developing Economies

Institutional Voids and the Philanthropization of CSR Practices: Insights from Developing Economies

When a Thousand Words Are (Not) Enough: An Empirical Study of the Relationship between Firm Performance and Attention to Shareholders

Corporate governance and resource management in Nigeria: a paradigm shift

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