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Theorizing Corporate Governance: New Organizational Alternatives

  • Simon Learmount
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    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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    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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    12. O'Sullivan, Mary, 2000. "The Innovative Enterprise and Corporate Governance," Cambridge Journal of Economics, Oxford University Press, vol. 24(4), pages 393-416, July.
    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. Lazonick, William & O'Sullivan, Mary, 1996. "Organization, Finance and International Competition," Industrial and Corporate Change, Oxford University Press, vol. 5(1), pages 1-49.
    15. Stiglitz, Joseph E, 1990. "Peer Monitoring and Credit Markets," World Bank Economic Review, World Bank Group, vol. 4(3), pages 351-66, September.
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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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