Skip to main content
Erschienen in: Management International Review 4/2009

01.09.2009 | Research Article

Corporate Governance and International Business

verfasst von: Prof. Roger Strange, Prof. Igor Filatotchev, Prof. Trevor Buck, Prof. Mike Wright

Erschienen in: Management International Review | Ausgabe 4/2009

Einloggen

Aktivieren Sie unsere intelligente Suche, um passende Fachinhalte oder Patente zu finden.

search-config
loading …

Abstract

  • In a broad sense, corporate governance is about how firms should be governed so that they are run effectively and efficiently. This paper takes a broad perspective on corporate governance mechanisms and considers possible synergies between corporate governance and international business (IB) research.
  • We summarize the papers included in this Focused Issue, and draw out their main contributions to the literature. In so doing, we compare and contrast the four theoretical perspectives concerning corporate governance and IB adopted in the five papers: i.e. transaction cost economics, the resource-based view, agency theory, and institutional theory.
  • Finally, we highlight five research themes (international diversification, business groups, entry modes, subsidiary mandates, and new international ownership structures) where future work explicitly addressing governance issues may prove fruitful.

Sie haben noch keine Lizenz? Dann Informieren Sie sich jetzt über unsere Produkte:

Springer Professional "Wirtschaft+Technik"

Online-Abonnement

Mit Springer Professional "Wirtschaft+Technik" erhalten Sie Zugriff auf:

  • über 102.000 Bücher
  • über 537 Zeitschriften

aus folgenden Fachgebieten:

  • Automobil + Motoren
  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Elektrotechnik + Elektronik
  • Energie + Nachhaltigkeit
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Maschinenbau + Werkstoffe
  • Versicherung + Risiko

Jetzt Wissensvorsprung sichern!

Management International Review

MANAGEMENT INTERNATIONAL REVIEW is a double-blind refereed journal that aims at the advancement and dissemination of research in the fields of International Management.

Springer Professional "Wirtschaft"

Online-Abonnement

Mit Springer Professional "Wirtschaft" erhalten Sie Zugriff auf:

  • über 67.000 Bücher
  • über 340 Zeitschriften

aus folgenden Fachgebieten:

  • Bauwesen + Immobilien
  • Business IT + Informatik
  • Finance + Banking
  • Management + Führung
  • Marketing + Vertrieb
  • Versicherung + Risiko




Jetzt Wissensvorsprung sichern!

Fußnoten
1
An exception is Strange and Jackson (2008).
 
Literatur
Zurück zum Zitat Anderssson, T. et al., Financialization Directing Strategy, Accounting Forum, 32, 4, 2008, pp. 261–275.CrossRef Anderssson, T. et al., Financialization Directing Strategy, Accounting Forum, 32, 4, 2008, pp. 261–275.CrossRef
Zurück zum Zitat Armour, J./Cumming, D., The Legislative Road to Silicon Valley, Oxford Economic Papers, 58, 4, 2006, pp. 596–635.CrossRef Armour, J./Cumming, D., The Legislative Road to Silicon Valley, Oxford Economic Papers, 58, 4, 2006, pp. 596–635.CrossRef
Zurück zum Zitat Barney, J. B., Firm Resources and Sustained Competitive Advantage, Journal of Management, 17, 1, 1991, pp. 99–120.CrossRef Barney, J. B., Firm Resources and Sustained Competitive Advantage, Journal of Management, 17, 1, 1991, pp. 99–120.CrossRef
Zurück zum Zitat Birkenshaw, J., Entrepreneurship in Multinational Corporations: The Characteristics of Subsidiary Initiative, Strategic Management Journal, 18, 3, 1997, pp. 207–229.CrossRef Birkenshaw, J., Entrepreneurship in Multinational Corporations: The Characteristics of Subsidiary Initiative, Strategic Management Journal, 18, 3, 1997, pp. 207–229.CrossRef
Zurück zum Zitat Blair, M. M./Stout, L. A., A Team Production Theory of Corporate Law, Virginia Law Review, 85, 2, pp. 247–328.CrossRef Blair, M. M./Stout, L. A., A Team Production Theory of Corporate Law, Virginia Law Review, 85, 2, pp. 247–328.CrossRef
Zurück zum Zitat Buck, T./Liu, X./Skovoroda, R., Top Executive Pay and Firm Performance in China, Journal of International Business Studies, 39, 5, 2008, pp. 833–850.CrossRef Buck, T./Liu, X./Skovoroda, R., Top Executive Pay and Firm Performance in China, Journal of International Business Studies, 39, 5, 2008, pp. 833–850.CrossRef
Zurück zum Zitat Coase, R., The Nature of the Firm, Economica, 4, 16, 1937, pp. 386–405.CrossRef Coase, R., The Nature of the Firm, Economica, 4, 16, 1937, pp. 386–405.CrossRef
Zurück zum Zitat Claessens, S./Djankov, S./Lang, L., The Separation of Ownership and Control in East Asian Corporations, Journal of Financial Economics, 58, 1, 2000, pp. 81–112.CrossRef Claessens, S./Djankov, S./Lang, L., The Separation of Ownership and Control in East Asian Corporations, Journal of Financial Economics, 58, 1, 2000, pp. 81–112.CrossRef
Zurück zum Zitat Cumming, D./Siegel, D./Wright, M., LBOs, Private Equity and Corporate Governance, Journal of Corporate Finance, 13, 4, 2007, pp. 439–460.CrossRef Cumming, D./Siegel, D./Wright, M., LBOs, Private Equity and Corporate Governance, Journal of Corporate Finance, 13, 4, 2007, pp. 439–460.CrossRef
Zurück zum Zitat Daily, C. M./Dalton, D./Rajagopalan, J., Governance Through Ownership: Centuries of Practices, Decades of Research, Academy of Management Journal, 46, 2, 2003, pp. 151–158.CrossRef Daily, C. M./Dalton, D./Rajagopalan, J., Governance Through Ownership: Centuries of Practices, Decades of Research, Academy of Management Journal, 46, 2, 2003, pp. 151–158.CrossRef
Zurück zum Zitat Denis, D./McConnell, J., International Corporate Governance, in Keasey, K./ Thompson, S./ Wright, M. (eds.), Corporate Governance: Accountability, Enterprise and International Comparison, London: Wiley 2005, pp. 251–284. Denis, D./McConnell, J., International Corporate Governance, in Keasey, K./ Thompson, S./ Wright, M. (eds.), Corporate Governance: Accountability, Enterprise and International Comparison, London: Wiley 2005, pp. 251–284.
Zurück zum Zitat Dharwadkar, R./George, G./Brandes, P., Privatization in Emerging Economies: An Agency Theory Perspective, Academy of Management Review, 25, 3, 2000, pp. 650–659.CrossRef Dharwadkar, R./George, G./Brandes, P., Privatization in Emerging Economies: An Agency Theory Perspective, Academy of Management Review, 25, 3, 2000, pp. 650–659.CrossRef
Zurück zum Zitat Eisenhardt, K. M., Agency Theory: An Assessment and Review, Academy of Management Review, 14, 1, 1989, pp. 57–74.CrossRef Eisenhardt, K. M., Agency Theory: An Assessment and Review, Academy of Management Review, 14, 1, 1989, pp. 57–74.CrossRef
Zurück zum Zitat Faccio, M./Lang, L. H. P., The Ultimate Ownership of Western European Corporations, Journal of Financial Economics, 65, 3, 2002, pp. 365–395. Faccio, M./Lang, L. H. P., The Ultimate Ownership of Western European Corporations, Journal of Financial Economics, 65, 3, 2002, pp. 365–395.
Zurück zum Zitat Fama, E./Jensen, M., Separation of Ownership and Control, Journal of Law and Economics, 26, 1, 1983, pp. 301–326.CrossRef Fama, E./Jensen, M., Separation of Ownership and Control, Journal of Law and Economics, 26, 1, 1983, pp. 301–326.CrossRef
Zurück zum Zitat Filatotchev, I./Stephan, J./Jindra, B., Ownership Structure, Strategic Controls and Export Intensity of Foreign-Invested Firms in Transition Economies, Journal of International Business Studies, 39, 7, 2008, pp. 1133–1148. Filatotchev, I./Stephan, J./Jindra, B., Ownership Structure, Strategic Controls and Export Intensity of Foreign-Invested Firms in Transition Economies, Journal of International Business Studies, 39, 7, 2008, pp. 1133–1148.
Zurück zum Zitat Filatotchev, I. et al., FDI by Firms from Newly Industrialized Economies in Emerging Markets: Corporate Governance, Entry Mode and Location Strategies, Journal of International Business Studies, 38, 4, 2007, pp. 556–572.CrossRef Filatotchev, I. et al., FDI by Firms from Newly Industrialized Economies in Emerging Markets: Corporate Governance, Entry Mode and Location Strategies, Journal of International Business Studies, 38, 4, 2007, pp. 556–572.CrossRef
Zurück zum Zitat Foss, N. J., Value and Transaction Costs: How Property Rights Economics Furthers the Resource-based View, Strategic Management Journal, 26, 6, pp. 541–553.CrossRef Foss, N. J., Value and Transaction Costs: How Property Rights Economics Furthers the Resource-based View, Strategic Management Journal, 26, 6, pp. 541–553.CrossRef
Zurück zum Zitat Hall, P. A./Gingerich, D. W., Varieties of Capitalism and Institutional Complementarities in the Macroeconomy: An Empirical Analysis, Paper presented at the American Political Science Association Conference, 2001, San Francisco. Hall, P. A./Gingerich, D. W., Varieties of Capitalism and Institutional Complementarities in the Macroeconomy: An Empirical Analysis, Paper presented at the American Political Science Association Conference, 2001, San Francisco.
Zurück zum Zitat Hall, P. A./Soskice, D. (eds.), Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press 2001. Hall, P. A./Soskice, D. (eds.), Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford: Oxford University Press 2001.
Zurück zum Zitat Hendry, J., The Principal’s Other Problems: Honest Incompetence and the Specification of Objectives, Academy of Management Review, 27, 1, 2002, pp. 98–113.CrossRef Hendry, J., The Principal’s Other Problems: Honest Incompetence and the Specification of Objectives, Academy of Management Review, 27, 1, 2002, pp. 98–113.CrossRef
Zurück zum Zitat Hoskisson, R. E. et al., Strategy in Emerging Economies, Academy of Management Journal, 43, 3, 2000, pp. 249–267.CrossRef Hoskisson, R. E. et al., Strategy in Emerging Economies, Academy of Management Journal, 43, 3, 2000, pp. 249–267.CrossRef
Zurück zum Zitat Kahan, M./Rock, E., Hedge Funds in Corporate Governance and Corporate Control, University of Pennsylvania Law Review, 155, 5, 2007, pp. 1021–1094. Kahan, M./Rock, E., Hedge Funds in Corporate Governance and Corporate Control, University of Pennsylvania Law Review, 155, 5, 2007, pp. 1021–1094.
Zurück zum Zitat Keasey, K./Thompson, S./Wright, M., Corporate Governance: Accountability, Enterprise and International Comparisons, London: Wiley 2005. Keasey, K./Thompson, S./Wright, M., Corporate Governance: Accountability, Enterprise and International Comparisons, London: Wiley 2005.
Zurück zum Zitat Khanna, T./Palepu, K., The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile, Academy of Management Journal, 43, 3, 2000, pp. 268–285.CrossRef Khanna, T./Palepu, K., The Future of Business Groups in Emerging Markets: Long-Run Evidence from Chile, Academy of Management Journal, 43, 3, 2000, pp. 268–285.CrossRef
Zurück zum Zitat Luo, X./Ching, C-N./Sobczak, M., How Do Corporate Governance Model Differences Affect Foreign Direct Investment in Emerging Economies?, Journal of International Business Studies, 40, 3, 2009, pp. 444–447. Luo, X./Ching, C-N./Sobczak, M., How Do Corporate Governance Model Differences Affect Foreign Direct Investment in Emerging Economies?, Journal of International Business Studies, 40, 3, 2009, pp. 444–447.
Zurück zum Zitat Madhok, A., Cost, Value and Foreign Market Entry Mode: The Transaction and the Firm, Strategic Management Journal, 18, 1, 1997, pp. 39–61.CrossRef Madhok, A., Cost, Value and Foreign Market Entry Mode: The Transaction and the Firm, Strategic Management Journal, 18, 1, 1997, pp. 39–61.CrossRef
Zurück zum Zitat Mäkelä, M. M./Maula, M., Interorganizational Commitment in Syndicated Cross-Border Venture Capital Investments, Entrepreneurship: Theory and Practice, 30, 2, 2006, pp. 273–298.CrossRef Mäkelä, M. M./Maula, M., Interorganizational Commitment in Syndicated Cross-Border Venture Capital Investments, Entrepreneurship: Theory and Practice, 30, 2, 2006, pp. 273–298.CrossRef
Zurück zum Zitat Meuleman, M./Wright, M., Determinants of Cross-Border Syndication: Cultural Barriers, Legal Context and Learning, Nottingham University Business School, Centre for Management Buy-out Research, Working Paper, 2008. Meuleman, M./Wright, M., Determinants of Cross-Border Syndication: Cultural Barriers, Legal Context and Learning, Nottingham University Business School, Centre for Management Buy-out Research, Working Paper, 2008.
Zurück zum Zitat Meyer, K. E./Wright, M./Pruthi, S., Managing Knowledge in Foreign Entry Strategies: A Resource-Based Analysis, Strategic Management Journal, 30, 5, 2009, pp. 557–574. Meyer, K. E./Wright, M./Pruthi, S., Managing Knowledge in Foreign Entry Strategies: A Resource-Based Analysis, Strategic Management Journal, 30, 5, 2009, pp. 557–574.
Zurück zum Zitat Mudambi, R., MNE Internal Capital Markets and Subsidiary Strategic Independence, International Business Review, 8, 2, 1999, pp. 197–211.CrossRef Mudambi, R., MNE Internal Capital Markets and Subsidiary Strategic Independence, International Business Review, 8, 2, 1999, pp. 197–211.CrossRef
Zurück zum Zitat North, D. C., Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press 1990. North, D. C., Institutions, Institutional Change and Economic Performance, Cambridge: Cambridge University Press 1990.
Zurück zum Zitat Reuer, J. J./Ragozzino, R., Agency Hazards and Alliance Portfolios, Strategic Management Journal, 27, 1, 2006, pp. 27–43.CrossRef Reuer, J. J./Ragozzino, R., Agency Hazards and Alliance Portfolios, Strategic Management Journal, 27, 1, 2006, pp. 27–43.CrossRef
Zurück zum Zitat Sanders, G./Carpenter, M., Internationalization and Firm Governance: The Roles of CEO Compensation, Top Team Composition, and Board Structure, Academy of Management Journal, 41, 2, 1998, pp. 158–178.CrossRef Sanders, G./Carpenter, M., Internationalization and Firm Governance: The Roles of CEO Compensation, Top Team Composition, and Board Structure, Academy of Management Journal, 41, 2, 1998, pp. 158–178.CrossRef
Zurück zum Zitat Shleifer, A./Vishny, R. W., A Survey of Corporate Governance, Journal of Finance, 52, 2, 1997, pp. 737–783.CrossRef Shleifer, A./Vishny, R. W., A Survey of Corporate Governance, Journal of Finance, 52, 2, 1997, pp. 737–783.CrossRef
Zurück zum Zitat Strange, R./Jackson, G. (eds.), Corporate Governance and International Business, Basingstoke: Palgrave 2008. Strange, R./Jackson, G. (eds.), Corporate Governance and International Business, Basingstoke: Palgrave 2008.
Zurück zum Zitat Teece, D. J., Transaction Cost Economics and the Multinational Enterprise: An Assessment, Journal of Economic Behavior and Organization, 7, 1, 1986, pp. 21–45.CrossRef Teece, D. J., Transaction Cost Economics and the Multinational Enterprise: An Assessment, Journal of Economic Behavior and Organization, 7, 1, 1986, pp. 21–45.CrossRef
Zurück zum Zitat Teece, D. J./Pisano, G./Shuen, A., Dynamic Capabilities and Strategic Management, Strategic Management Journal, 18, 7, 1997, pp. 509–533.CrossRef Teece, D. J./Pisano, G./Shuen, A., Dynamic Capabilities and Strategic Management, Strategic Management Journal, 18, 7, 1997, pp. 509–533.CrossRef
Zurück zum Zitat Wernerfelt, B., A Resource-Based View of the Firm, Strategic Management Journal, 5, 2, 1984, pp. 171–180.CrossRef Wernerfelt, B., A Resource-Based View of the Firm, Strategic Management Journal, 5, 2, 1984, pp. 171–180.CrossRef
Zurück zum Zitat Williamson, O. E., The Economic Institutions of Capitalism, New York: The Free Press 1985. Williamson, O. E., The Economic Institutions of Capitalism, New York: The Free Press 1985.
Zurück zum Zitat Williamson, O. E., Corporate Finance and Corporate Governance, Journal of Finance, 43, 3, 1988, pp. 567–591.CrossRef Williamson, O. E., Corporate Finance and Corporate Governance, Journal of Finance, 43, 3, 1988, pp. 567–591.CrossRef
Zurück zum Zitat Wright, M., Foreign Private Equity Firms in the UK: An Exploration of Issues, Landscape and Implications, Paper presented at Cass Business Conference, Barbarians at the Gate 2008. Wright, M., Foreign Private Equity Firms in the UK: An Exploration of Issues, Landscape and Implications, Paper presented at Cass Business Conference, Barbarians at the Gate 2008.
Zurück zum Zitat Wright, M./Lockett, A., The Structure and Management of Alliances: Syndication in the Venture Capital Industry, Journal of Management Studies, 40, 8, 2003, pp. 2073–2102.CrossRef Wright, M./Lockett, A., The Structure and Management of Alliances: Syndication in the Venture Capital Industry, Journal of Management Studies, 40, 8, 2003, pp. 2073–2102.CrossRef
Zurück zum Zitat Wright, M. et al., Strategy Research in Emerging Economies: Challenging the Conventional Wisdom, Journal of Management Studies, 42, 1, 2005, pp. 1–34.CrossRef Wright, M. et al., Strategy Research in Emerging Economies: Challenging the Conventional Wisdom, Journal of Management Studies, 42, 1, 2005, pp. 1–34.CrossRef
Zurück zum Zitat Yiu, D. W. et al., Business Groups: An Integrated Model to Focus Future Research, Journal of Management Studies, 44, 8, 2007, pp. 1551–1579. Yiu, D. W. et al., Business Groups: An Integrated Model to Focus Future Research, Journal of Management Studies, 44, 8, 2007, pp. 1551–1579.
Zurück zum Zitat Young, M. N. et al., Corporate Governance in Emerging Economies: A Review of the Principal-Principal Perspective, Journal of Management Studies, 45, 1, 2008, pp. 196–220. Young, M. N. et al., Corporate Governance in Emerging Economies: A Review of the Principal-Principal Perspective, Journal of Management Studies, 45, 1, 2008, pp. 196–220.
Metadaten
Titel
Corporate Governance and International Business
verfasst von
Prof. Roger Strange
Prof. Igor Filatotchev
Prof. Trevor Buck
Prof. Mike Wright
Publikationsdatum
01.09.2009
Verlag
SP Gabler Verlag
Erschienen in
Management International Review / Ausgabe 4/2009
Print ISSN: 0938-8249
Elektronische ISSN: 1861-8901
DOI
https://doi.org/10.1007/s11575-009-0001-z

Weitere Artikel der Ausgabe 4/2009

Management International Review 4/2009 Zur Ausgabe

Premium Partner