Open AccessStages of Corporate Governance In Transition Economies
Author(s) -
Son Anh Le,
Mark Kroll,
Bruce A. Walters
Publication year - 1970
Publication title -
journal of business strategies
Language(s) - English
Resource type - Journals
eISSN - 2162-6901
pISSN - 0887-2058
DOI - 10.54155/jbs.28.2.151-175
Subject(s) - corporate governance , bureaucracy , transition (genetics) , business , economic system , control (management) , transition economy , market economy , economics , economy , political science , politics , management , finance , law , biochemistry , chemistry , gene
We develop a model of corporate governance stages in transition economies,including bureaucratic control-based; relational; and rule, market-based corporategovernance. We demonstrate how institutions shape stakeholders’ dominant sourcesof control power and firms’ dominant origins of resources within and across thesestages. We then theorize how these driving forces influence the effectiveness of thesecorporate governance stages, and how the shift from one stage of corporate governanceto another comes about. Our paper therefore contributes to the understandingof the development and nature of corporate governance in transition economies.