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Theorizing Corporate Governance: New Organizational Alternatives

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  • Simon Learmount
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    Abstract

    This paper contrasts 'economic' and 'organizational' approaches to corporate governance, in order to draw out some of their distinctive features and discuss their relative strengths and weaknesses. Some promising areas of new research are identified which examine the role of social controls and trust for the way that companies are governed. Although these are fairly embryonic, it is argued that they call into question the hegemony of economic theories in theorizing the governance of the corporation. The paper concludes by advocating a re-consideration and broadening of the current conceptual scope of corporate governance, so as to facilitate and encourage other potentially valuable ways of exploring and understanding how companies are governed.

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    File URL: http://www.cbr.cam.ac.uk/pdf/WP237.pdf
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    Bibliographic Info

    Paper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp237.

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    Date of creation: Jun 2002
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    Handle: RePEc:cbr:cbrwps:wp237

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    Web page: http://www.cbr.cam.ac.uk/

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    Keywords: Corporate Governance; Social Controls;

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    References

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    1. Andrei Shleifer & Robert W. Vishny, 1995. "A Survey of Corporate Governance," Harvard Institute of Economic Research Working Papers 1741, Harvard - Institute of Economic Research.
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    8. Hart, Oliver D. & Moore, John, 1990. "Property Rights and the Nature of the Firm," Scholarly Articles 3448675, Harvard University Department of Economics.
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    13. Michael C. Jensen, 1994. "Self-Interest, Altruism, Incentives, And Agency Theory," Journal of Applied Corporate Finance, Morgan Stanley, vol. 7(2), pages 40-45.
    14. Stiglitz, Joseph E, 1990. "Peer Monitoring and Credit Markets," World Bank Economic Review, World Bank Group, vol. 4(3), pages 351-66, September.
    15. Melinda Muth & Lex Donaldson, 1998. "Stewardship Theory and Board Structure: a contingency approach," Corporate Governance: An International Review, Wiley Blackwell, vol. 6(1), pages 5-28, 01.
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    18. Learmount, Simon, 2002. "Corporate Governance: What Can Be Learned From Japan?," OUP Catalogue, Oxford University Press, number 9780199252916.
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    Cited by:
    1. Lippert, Inge, 2008. "Perspektivenverschiebungen in der Corporate Governance: Neuere Ans├Ątze und Studien der Corporate-Governance-Forschung," Discussion Papers, Research Unit: Knowledge, Production Systems and Work SP III 2008-302, Social Science Research Center Berlin (WZB).

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