Open AccessThe firm and its governance over the industry life-cycle
Author(s) -
Jackie Krafft,
JacquesLaurent Ravix
Publication year - 2007
Publication title -
corporate ownership and control
Language(s) - English
Resource type - Journals
eISSN - 1810-0368
pISSN - 1727-9232
DOI - 10.22495/cocv5i1c1p8
Subject(s) - corporate governance , diversity (politics) , transparency (behavior) , business , industrial organization , set (abstract data type) , accounting , political science , finance , law , computer science , programming language
Uniformity in modes of governance is now widely debated. So far, the predominant thesis was that there should be a superior model promoting optimality by disclosure of information and transparency. But today, this thesis is greatly contested, since the adoption of a unique and universal set of rules and arrangements neglects the diversity and heterogeneity of firms, industries, as well as institutional contexts. What emerges as a result is that different types of rules and norms should govern differently entrepreneurial as well as public firms, depending on the industry in which they operate and the stage of development of this industry. The objectives of this paper are to explore the issue of the diversity in modes of corporate governance, and to contribute to the issue with a focus on what corporate governance may look like over the industry life cycle