Regulating organizations through codes of corporate governance
AbstractAlthough codes of corporate governance have come to be widely used as a mode of regulating corporations, our understanding of how they function is still rather limited. In this paper we describe the design of such code regimes and propose a theoretical framework for studying their effects. On the basis of an observation-theoretical approach, codes are conceptualized as schemas of observation that determine the way we evaluate corporations. On the one hand, the effect of a code depends on the extent to which it becomes integrated into recursive cycles of mutual observation between the corporation and the various actors in the field. On the other hand, it also depends on how the code relates to other observational schemas in the field. The paper concludes with some guidelines for empirical research on code regimes.
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Bibliographic InfoPaper provided by ESRC Centre for Business Research in its series ESRC Centre for Business Research - Working Papers with number wp338.
Date of creation: Dec 2006
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Web page: http://www.cbr.cam.ac.uk/
Codes; Corporate Governance; Ecology; Field; Observation; Rules;
Find related papers by JEL classification:
- G34 - Financial Economics - - Corporate Finance and Governance - - - Mergers; Acquisitions; Restructuring; Corporate Governance
- K22 - Law and Economics - - Regulation and Business Law - - - Business and Securities Law
This paper has been announced in the following NEP Reports:
- NEP-ALL-2007-04-09 (All new papers)
- NEP-CBE-2007-04-09 (Cognitive & Behavioural Economics)
- NEP-REG-2007-04-09 (Regulation)
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- Krishna Reddy & Stuart Locke & Frank Scrimgeour, 2010. "The efficacy of principle-based corporate governance practices and firm financial performance: An empirical investigation," International Journal of Managerial Finance, Emerald Group Publishing, vol. 6(3), pages 190-219, July.
- David Seidl & Paul Sanderson & John Roberts, 2009. "Applying 'Comply-or-Explain': Conformance with Codes of Corporate Governance in the UK and Germany," ESRC Centre for Business Research - Working Papers wp389, ESRC Centre for Business Research.
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