Modern corporate changes: reinstating the link between the nature, boundaries and governance of the firm
Abstract
The theory of the firm and corporate governance are two fields of analysis traditionally tackled separately in the economic literature. This paper seeks to rediscover the link between the nature, boundaries and governance of the firm on the basis of changes in corporate industrial firms. We advance the argument that, to understand the human capital-intensive firm, this analytical interconnection should be restored. On the basis of critical resource theory, we present an innovative vision of the nature, boundaries and governance of firms whose productive activity is built around its key partners' human capital. The organisational mode of governance has changed, linked to a renewed conception of the firm. What we term the 'multi-resources' model of governance of the firm depends on an original representation of the structure, organisation and power relationships of modern firms, whose value arises from the accumulation of specific human capital. Consequently, the multi-resources model involves hybrid governance instrument in order to protect the integrity of the human capital-intensive firm.Download Info
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Bibliographic Info
Article provided by Taylor and Francis Journals in its journal International Review of Applied Economics.
Volume (Year): 22 (2008)
Issue (Month): 4 ()
Pages: 447-461
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Related research
Keywords: human capital; nature and boundaries of the firm; corporate governance; critical resource theory;References
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Citations
Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.Cited by:
- Cécile Cézanne & Marianne Rubinstein, 2010. "La RSE comme instrument de la gouvernance d'entreprise," Post-Print hal-00628645, HAL.
- Cécile Cézanne, 2010. "Un modèle renouvelé de gouvernance d'entreprise : une évaluation empirique sur données françaises," Post-Print hal-00628650, HAL.
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