Prior studies support that culture as well as institution influences the way a multinational corporation (MNC) subsidiary implements human resource (HR) practices. However, they tend to ignore variations in HR practices. Through an extensive review of the literature, the current paper asserts that the cultural effect on the implementation of HR practices varies depending on the type of HR practices. To support this view, the paper discusses how MNC subsidiaries implement distinct types of HR practices transferred from the MNC parent. The HR practices discussed are: (1) recruitment, (2) employee training and development, (3) performance appraisal, (4) compensation, benefits, and pensions, (5) teamwork, and (6) quality control (QC) circles. The differences in the implementation of HR practices caused by culture seem to be salient in HR practices where personal relationships are essential. Namely, (3) performance appraisal seems to be the most culturally sensitive. (1) Recruitment is also culturally sensitive as culture determines how and whom subsidiaries recruit. However, it is also subject to institutional effects because an MNC parent controls it by setting internal regulations. Cultural effects on (4) compensation, benefits, and pensions cannot be ignored either. Yet, institutional effects seem to be stronger than culture because minimum wages and pensions are regulated by companies and governments. Although culture can influence the time and the types of (2) employee training and development, its impact on this practice seems smaller than that on the previous three practices. Finally, it is hard to grasp the real cultural effects on (5) teamwork and (6) QC circles. When these ‘popular’ HR practices are explicitly codified, they become highly transferable. Thanks to the codification, subsidiaries can ceremoniously implement them by simply copying forms, avoiding cultural effects.
{"title":"The Types of Human Resource Practices and Cultural Effects","authors":"Katsutoshi Fushimi","doi":"10.2139/ssrn.3887163","DOIUrl":"https://doi.org/10.2139/ssrn.3887163","url":null,"abstract":"Prior studies support that culture as well as institution influences the way a multinational corporation (MNC) subsidiary implements human resource (HR) practices. However, they tend to ignore variations in HR practices. Through an extensive review of the literature, the current paper asserts that the cultural effect on the implementation of HR practices varies depending on the type of HR practices. To support this view, the paper discusses how MNC subsidiaries implement distinct types of HR practices transferred from the MNC parent. The HR practices discussed are: (1) recruitment, (2) employee training and development, (3) performance appraisal, (4) compensation, benefits, and pensions, (5) teamwork, and (6) quality control (QC) circles. The differences in the implementation of HR practices caused by culture seem to be salient in HR practices where personal relationships are essential. Namely, (3) performance appraisal seems to be the most culturally sensitive. (1) Recruitment is also culturally sensitive as culture determines how and whom subsidiaries recruit. However, it is also subject to institutional effects because an MNC parent controls it by setting internal regulations. Cultural effects on (4) compensation, benefits, and pensions cannot be ignored either. Yet, institutional effects seem to be stronger than culture because minimum wages and pensions are regulated by companies and governments. Although culture can influence the time and the types of (2) employee training and development, its impact on this practice seems smaller than that on the previous three practices. Finally, it is hard to grasp the real cultural effects on (5) teamwork and (6) QC circles. When these ‘popular’ HR practices are explicitly codified, they become highly transferable. Thanks to the codification, subsidiaries can ceremoniously implement them by simply copying forms, avoiding cultural effects.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"7 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2021-07-15","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131567539","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper investigates how analyst categorisation hierarchies (CH) affect corporate social responsibility (CSR) conformity. We argue that firms that are labelled as either high rank or low rank by analysts have higher institutional immunity, while firms that are categorised as middle rank have lower immunity. These heterogeneous institutional immunities will affect the levels of CSR conformity differently. Our results, which originate from a sample of Chinese listed firms from 2009 to 2016, suggest that CH exhibit an inverted‐U‐shaped relationship with CSR conformity. High‐ranked and low‐ranked firms are most likely to be CSR nonconformist, while middle‐ranked firms tend to conduct CSR like the majority of their industry peers. Moreover, we also investigate the environmental boundary conditions of this curvilinear relationship. This relationship is moderated by environmental munificence (positively) and dynamism (negatively). Our findings fill the theoretical gap by proposing an institutional‐based explanation for the CSR conformity heterogeneity which is rarely discussed and extending the boundary conditions for the categorisation‐CSR conformity relationship.
{"title":"Dare to Be Different? Investigating the Relationship between Analyst Categorisation Hierarchies and Corporate Social Responsibility (CSR) Conformity","authors":"Xin Pan, Xuanjin Chen, Mengxi Yang, Xin Chen","doi":"10.1111/beer.12247","DOIUrl":"https://doi.org/10.1111/beer.12247","url":null,"abstract":"This paper investigates how analyst categorisation hierarchies (CH) affect corporate social responsibility (CSR) conformity. We argue that firms that are labelled as either high rank or low rank by analysts have higher institutional immunity, while firms that are categorised as middle rank have lower immunity. These heterogeneous institutional immunities will affect the levels of CSR conformity differently. Our results, which originate from a sample of Chinese listed firms from 2009 to 2016, suggest that CH exhibit an inverted‐U‐shaped relationship with CSR conformity. High‐ranked and low‐ranked firms are most likely to be CSR nonconformist, while middle‐ranked firms tend to conduct CSR like the majority of their industry peers. Moreover, we also investigate the environmental boundary conditions of this curvilinear relationship. This relationship is moderated by environmental munificence (positively) and dynamism (negatively). Our findings fill the theoretical gap by proposing an institutional‐based explanation for the CSR conformity heterogeneity which is rarely discussed and extending the boundary conditions for the categorisation‐CSR conformity relationship.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"177 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129013908","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Despite the proliferation of research on governance and performance of family firms over the past decades, the extant empirical evidence remains inconclusive. Acknowledging multiple sources of family firm variation, scholars started explaining the observed differences in governance structures and performance outcomes by taking into consideration the heterogeneity among family firms. In this paper, we undertake a review of the literature at the intersection of governance and performance in family firms to elucidate (a) the role of various governance attributes as performance drivers; and (b) the variability of governance effects across different performance indicators. By taking stock of what is already known and discussing avenues for further investigation, we seek to contribute to a more fine‐grained understanding of the intricate governance–performance relationship in light of the heterogeneous nature of family firms. The key priorities for future inquiry consist in: the identification of missing mediating and moderating variables; the inclusion of currently underexplored governance determinants of family firm performance; and the analysis of complementarity and substitution effects among multiple attributes of monitoring and their changing dynamics over time to secure an optimal governance–performance alignment in family firms.
{"title":"At the Intersection of Corporate Governance and Performance in Family Business Settings: Extant Knowledge and Future Research","authors":"V. Bodolica, Daniel Dupuis, M. Spraggon","doi":"10.1111/beer.12254","DOIUrl":"https://doi.org/10.1111/beer.12254","url":null,"abstract":"Despite the proliferation of research on governance and performance of family firms over the past decades, the extant empirical evidence remains inconclusive. Acknowledging multiple sources of family firm variation, scholars started explaining the observed differences in governance structures and performance outcomes by taking into consideration the heterogeneity among family firms. In this paper, we undertake a review of the literature at the intersection of governance and performance in family firms to elucidate (a) the role of various governance attributes as performance drivers; and (b) the variability of governance effects across different performance indicators. By taking stock of what is already known and discussing avenues for further investigation, we seek to contribute to a more fine‐grained understanding of the intricate governance–performance relationship in light of the heterogeneous nature of family firms. The key priorities for future inquiry consist in: the identification of missing mediating and moderating variables; the inclusion of currently underexplored governance determinants of family firm performance; and the analysis of complementarity and substitution effects among multiple attributes of monitoring and their changing dynamics over time to secure an optimal governance–performance alignment in family firms.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"19 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"125292068","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Two experimental studies, based on a model using a novel integration of theories, provide evidence that collective blame, the assignment of blame to members of a group besides the member(s) who directly caused a misdeed, in the aftermath of counterproductive work behavior (CWB) is higher when a group of coworkers is perceived as a single entity. Further, the studies consistently show that this relationship is mediated by inferences about both indirect causality and common blameworthy traits among group members. These findings extend prior research, which has not considered mediation in this relationship by dual inferences. Additionally, perceivers’ implicit theories about people's character were found to moderate the inferences they favor, with inferences about indirect causality versus common traits favored by perceivers with implicit theories that people's character is malleable versus fixed, respectively. These findings extend prior research by empirically supporting the notion that the nature of perceivers’ implicit theories about people's character is related to why they perceive a group to be a single entity. The findings, future directions and implications of improved understanding of the assignment of collective blame following CWB are discussed.
{"title":"How Group and Perceiver Characteristics Affect Collective Blame Following Counterproductive Work Behavior","authors":"Kurt Wurthmann","doi":"10.1111/beer.12251","DOIUrl":"https://doi.org/10.1111/beer.12251","url":null,"abstract":"Two experimental studies, based on a model using a novel integration of theories, provide evidence that collective blame, the assignment of blame to members of a group besides the member(s) who directly caused a misdeed, in the aftermath of counterproductive work behavior (CWB) is higher when a group of coworkers is perceived as a single entity. Further, the studies consistently show that this relationship is mediated by inferences about both indirect causality and common blameworthy traits among group members. These findings extend prior research, which has not considered mediation in this relationship by dual inferences. Additionally, perceivers’ implicit theories about people's character were found to moderate the inferences they favor, with inferences about indirect causality versus common traits favored by perceivers with implicit theories that people's character is malleable versus fixed, respectively. These findings extend prior research by empirically supporting the notion that the nature of perceivers’ implicit theories about people's character is related to why they perceive a group to be a single entity. The findings, future directions and implications of improved understanding of the assignment of collective blame following CWB are discussed.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"130458442","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Samson Samwel Shillamkwese, H. Tariq, Asfia Obaid, Q. Weng, T. Garavan
Synthesizing self‐regulatory theories, we provide new insights into the antecedents of abusive supervision. We, from the perspective of supervisor's self‐regulatory resources depletion or impairment, introduce supervisor hindrance stress as an underlying mechanism of the subordinate deviance–abusive supervision relationship: this mediated relationship will be intensified at the level of high subordinate job performance. In addition, we develop a complex contingency model and propose a three‐way interaction (i.e., subordinate deviance, job performance, supervisor outcome dependence) to obtain the complete understanding of the subordinate deviance–abusive supervision relationship facilitated through the supervisors’ hindrance stress. To test our moderated moderated mediation model, we gathered time‐lagged and multisource data from a large food service company located in southern China. We collected data at two different points (i.e., Time 1 and Time 2) from supervisors and their direct reports (N = 298 responses from 68 supervisors and 298 direct reports), and findings provide support for the hypothesized moderated moderated mediation model of our study. We highlight the implications of our study for theory, research, and practice.
{"title":"It's Not Me, it's You: Testing a Moderated Mediation Model of Subordinate Deviance and Abusive Supervision Through the Self‐Regulatory Perspective","authors":"Samson Samwel Shillamkwese, H. Tariq, Asfia Obaid, Q. Weng, T. Garavan","doi":"10.1111/beer.12245","DOIUrl":"https://doi.org/10.1111/beer.12245","url":null,"abstract":"Synthesizing self‐regulatory theories, we provide new insights into the antecedents of abusive supervision. We, from the perspective of supervisor's self‐regulatory resources depletion or impairment, introduce supervisor hindrance stress as an underlying mechanism of the subordinate deviance–abusive supervision relationship: this mediated relationship will be intensified at the level of high subordinate job performance. In addition, we develop a complex contingency model and propose a three‐way interaction (i.e., subordinate deviance, job performance, supervisor outcome dependence) to obtain the complete understanding of the subordinate deviance–abusive supervision relationship facilitated through the supervisors’ hindrance stress. To test our moderated moderated mediation model, we gathered time‐lagged and multisource data from a large food service company located in southern China. We collected data at two different points (i.e., Time 1 and Time 2) from supervisors and their direct reports (N = 298 responses from 68 supervisors and 298 direct reports), and findings provide support for the hypothesized moderated moderated mediation model of our study. We highlight the implications of our study for theory, research, and practice.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"9 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2020-01-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"131571155","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper studies the effect of bundling products and services on the export performance of firms. Using a unique sample, we document several facts about German small and medium enterprises (SMEs). First, bundling is a relatively rare activity, which is unevenly spread across sectors. Second, SMEs that bundle products and services are more productive than those selling products and services separately. Third, these firms tend to be more internationally oriented. While most of the existing literature focuses on large firms, we contribute to the literature by uncovering a robust positive relation between product-service bundling and exporting in SMEs. Importantly, the competitiveness-enhancing effect of bundling goes beyond manufacturing, affecting non-manufacturing firms also. To mitigate endogeneity concerns, we exploit the panel structure of the data and implement several (doubly robust) propensity score matching techniques.
{"title":"Bundling and Exporting: Evidence from German SMEs","authors":"Tommaso Aquilante, Ferran Vendrell-Herrero","doi":"10.2139/ssrn.3346309","DOIUrl":"https://doi.org/10.2139/ssrn.3346309","url":null,"abstract":"This paper studies the effect of bundling products and services on the export performance of firms. Using a unique sample, we document several facts about German small and medium enterprises (SMEs). First, bundling is a relatively rare activity, which is unevenly spread across sectors. Second, SMEs that bundle products and services are more productive than those selling products and services separately. Third, these firms tend to be more internationally oriented. While most of the existing literature focuses on large firms, we contribute to the literature by uncovering a robust positive relation between product-service bundling and exporting in SMEs. Importantly, the competitiveness-enhancing effect of bundling goes beyond manufacturing, affecting non-manufacturing firms also. To mitigate endogeneity concerns, we exploit the panel structure of the data and implement several (doubly robust) propensity score matching techniques.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2019-03-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"121666601","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2018-06-22DOI: 10.18261/9788215031583-2018-08
J. Bērziņš, Øyvind Bøhren, Bogdan Stacescu
This chapter reports main findings from a comprehensive study of how Norwegian family firms are governed and how they behave and perform as economic entities. Analyzing all firms from 2000 to 2015, we show that the family firm represents the most widespread way of organizing economic activity, and that family firms differ fundamentally from other firms. Our results suggest that deeper insight into the economics of family firms may make the firms better, and the public debate more informed.
{"title":"The Under-Researched Family Firm: New Insights from Unique Norwegian Data","authors":"J. Bērziņš, Øyvind Bøhren, Bogdan Stacescu","doi":"10.18261/9788215031583-2018-08","DOIUrl":"https://doi.org/10.18261/9788215031583-2018-08","url":null,"abstract":"This chapter reports main findings from a comprehensive study of how Norwegian family firms are governed and how they behave and perform as economic entities. Analyzing all firms from 2000 to 2015, we show that the family firm represents the most widespread way of organizing economic activity, and that family firms differ fundamentally from other firms. Our results suggest that deeper insight into the economics of family firms may make the firms better, and the public debate more informed.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"6 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2018-06-22","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"129479036","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper identifies and examines the four stages of marketing's digitalization journey to date and the points of interest along the way. The metaphor of a journey provides a narrative through which to understand the complex changes that are occurring within the digitalization of marketing. The digital journey has no final destination yet, but it is possible to identify an origin and chart its route thus far. In reflecting on this journey, insights emerge, which pose ongoing challenges for businesses and for the marketing discipline. The digitalization of marketing provides new options for routes to markets, communication, brand building, relationship development, trialling pricing, product development, sourcing insights, as well as a platform for innovation. But, only if businesses embark on this journey, and then keep up with the pace once en route. The implications for business stemming from marketing's digital journey are detailed along with avenues for future research, to develop further understanding of digitalization. The theoretical contributions made by this paper include both a novel mapping of the complex trajectory of marketing's digitalization through a visualization and an articulation of the main four gaps in current research and practice knowledge within marketing. The gaps include the need for a strategic view, the issue of technical silos, the changing conceptions of time, and the tension between empowered consumers and their reliance on pre-filtered information. This paper provides a critical appraisal of the digital journey so far, resulting in a distilled conceptualization and route map, which should help guide future researchers.
{"title":"The Digital Journey: Reflected Learnings and Emerging Challenges","authors":"S. Quinton, L. Simkin","doi":"10.1111/ijmr.12104","DOIUrl":"https://doi.org/10.1111/ijmr.12104","url":null,"abstract":"This paper identifies and examines the four stages of marketing's digitalization journey to date and the points of interest along the way. The metaphor of a journey provides a narrative through which to understand the complex changes that are occurring within the digitalization of marketing. The digital journey has no final destination yet, but it is possible to identify an origin and chart its route thus far. In reflecting on this journey, insights emerge, which pose ongoing challenges for businesses and for the marketing discipline. The digitalization of marketing provides new options for routes to markets, communication, brand building, relationship development, trialling pricing, product development, sourcing insights, as well as a platform for innovation. But, only if businesses embark on this journey, and then keep up with the pace once en route. The implications for business stemming from marketing's digital journey are detailed along with avenues for future research, to develop further understanding of digitalization. The theoretical contributions made by this paper include both a novel mapping of the complex trajectory of marketing's digitalization through a visualization and an articulation of the main four gaps in current research and practice knowledge within marketing. The gaps include the need for a strategic view, the issue of technical silos, the changing conceptions of time, and the tension between empowered consumers and their reliance on pre-filtered information. This paper provides a critical appraisal of the digital journey so far, resulting in a distilled conceptualization and route map, which should help guide future researchers.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"27 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2017-10-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134096746","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
For some years, it has seemed to me that enough countries have had experience with programs designed to improve the quality of financial reporting that a comparison of their different approaches should be essayed. In 1969, when I accepted Professor Edward Stamp's kind invitation to deliver the 1970 Arthur Andersen & Co. Lecture at the University of Edinburgh, I selected the title "Forging Accounting Principles in Five Countries." Although I had more than a year to prepare for the presentation, I didn't realize how massive and challenging was the research I proposed I under take.The following are the chapters from the book:Chapter 1 (Great Britain):http://ssrn.com/abstract=2045714Chapter 2 (Mexico):http://ssrn.com/abstract=2046059Chapter 3 (United States):http://ssrn.com/abstract=2046087Chapter 4: (Canada):http://ssrn.com/abstract=2046062Chapter 5: (A Critical Review of the Evolving Trends):http://ssrn.com/abstract=2046066
{"title":"Forging Accounting Principles in Five Countries: A History and an Analysis of Trends","authors":"S. Zeff","doi":"10.2139/SSRN.2046059","DOIUrl":"https://doi.org/10.2139/SSRN.2046059","url":null,"abstract":"For some years, it has seemed to me that enough countries have had experience with programs designed to improve the quality of financial reporting that a comparison of their different approaches should be essayed. In 1969, when I accepted Professor Edward Stamp's kind invitation to deliver the 1970 Arthur Andersen & Co. Lecture at the University of Edinburgh, I selected the title \"Forging Accounting Principles in Five Countries.\" Although I had more than a year to prepare for the presentation, I didn't realize how massive and challenging was the research I proposed I under take.The following are the chapters from the book:Chapter 1 (Great Britain):http://ssrn.com/abstract=2045714Chapter 2 (Mexico):http://ssrn.com/abstract=2046059Chapter 3 (United States):http://ssrn.com/abstract=2046087Chapter 4: (Canada):http://ssrn.com/abstract=2046062Chapter 5: (A Critical Review of the Evolving Trends):http://ssrn.com/abstract=2046066","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"1 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2015-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"134421510","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
This paper examines the importance of governance transparency as a foundation of modern finance and the national institutions of effective capitalism. Governance transparency has two major components, self-dealing transparency and corporate ownership transparency. Governance transparency reduces transactions costs and reduces asymmetric information problems by reducing instances of opportunistic behavior. We examine state of the art component measures of governance transparency and find that governance transparency is a significant influence on financial architecture, equity participation, and the cost of equity. We also document the effects of national trust and financing preferences on the demand for governance transparency. This overview and review should be of much interest to firm owners, managers, scholars, and policy-makers concerned with transparency and financial and economic development.
{"title":"Governance Transparency, Finance, and the Institutions of Capitalism: A Global Perspective","authors":"R. Aggarwal, John W. Goodell","doi":"10.2139/ssrn.2554617","DOIUrl":"https://doi.org/10.2139/ssrn.2554617","url":null,"abstract":"This paper examines the importance of governance transparency as a foundation of modern finance and the national institutions of effective capitalism. Governance transparency has two major components, self-dealing transparency and corporate ownership transparency. Governance transparency reduces transactions costs and reduces asymmetric information problems by reducing instances of opportunistic behavior. We examine state of the art component measures of governance transparency and find that governance transparency is a significant influence on financial architecture, equity participation, and the cost of equity. We also document the effects of national trust and financing preferences on the demand for governance transparency. This overview and review should be of much interest to firm owners, managers, scholars, and policy-makers concerned with transparency and financial and economic development.","PeriodicalId":430759,"journal":{"name":"INTL: Other Global Business Issues (Topic)","volume":"100 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2013-08-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128597676","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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