Varietes of capitalism, corporata governance mechanisms, and stakeholder engagement: An overview of coordinated and liberal market economies
| Autor: | Isabel Gallego-Álvarez, María Consuelo Pucheta-Martínez, Inmaculada Bel-Oms |
|---|---|
| Jazyk: | angličtina |
| Rok vydání: | 2019 |
| Předmět: |
Strategy and Management
Corporate governance 05 social sciences female directors Stakeholder engagement 06 humanities and the arts Management Monitoring Policy and Law Development Capitalism corporate governance committees 0603 philosophy ethics and religion Empreses Direcció i administració board-specific skills CSR disclosure Market economy varieties of capitalism 0502 economics and business 060301 applied ethics Business 050203 business & management |
| Zdroj: | Pucheta Martínez, María Consuelo Gallego Álvarez, Isabel Bel Oms, Inmaculada 2019 Varietes of capitalism, corporata governance mechanisms, and stakeholder engagement: An overview of coordinated and liberal market economies Corporate Social Responsibility And Environmental Management 27 2 731 748 RODERIC: Repositorio Institucional de la Universitat de Valéncia instname Repositori Universitat Jaume I Universitat Jaume I RODERIC. Repositorio Institucional de la Universitat de Valéncia |
| Popis: | This is the pre-peer reviewed version of the following article: Varieties of capitalism, corporate governance mechanisms, and stakeholder engagement: An overview of coordinated and liberal market economies, which has been published in final form at https://doi.org/10.1002/csr.1840. This article may be used for non-commercial purposes in accordance with Wiley Terms and Conditions for Use of Self-Archived Versions. This paper examines those aspects of national institutions that affect corporate governance mechanisms at international level. The study uses the “varieties of capitalism” approach, which is concerned with the way companies interact strategically to solve the coordination problems arising from their activities. This research is based on a sample of countries operating in coordinated market economies and liberal market economies. The data were collected from the Thomson Reuters database. The findings suggest that the institutional context is associated with several corporate governance mechanisms. Specifically, our results find that the proportion of female directors on boards and the presence of corporate governance committees are higher in firms operating in liberal market economies than in those domiciled in coordinated market economies. Regarding the disclosure of corporate social responsibility information, the evidence shows that it is not affected by the varieties of capitalism measured, whereas board‐specific skills are higher in the latter than in the former. This paper offers empirical evidence at international level for the varieties of capitalism that contribute to better corporate governance structures. With regard to managerial implications, our findings show that belonging (or not) to a specific variety of capitalism impacts various mechanisms of corporate governance. |
| Databáze: | OpenAIRE |
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