Comparative and International Corporate Governance

Abstract

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Corporate governance and national institutions: A review and emerging research agenda

“…For example, the agency conflict takes on very different forms across countries not only due to the different patterns of shareholder concentration but based on the different social identities of blockholders such as families, the state, banks, foundations or business groups (Jackson, 2010). Institutional theories have moved beyond the focus on how the law shapes agency conflicts, and looks now at how wider cultural, social, and political factors shape the crossnational diversity of actors and settings in corporate governance (for a comprehensive review, see Aguilera & Jackson, 2010).…”

Foundations of Responsible Leadership: Asian Versus Western Executive Responsibility Orientations Toward Key Stakeholders

“…Because corporations and their leaders are embedded in different national systems, they will embrace different societal values related to CSR (Schneider et al 2014;Waldman et al 2006) and experience divergent degrees of internal and external pressures to engage in CSR (Aguilera and Jackson 2010;Doh and Guay 2006;Matten and Crane 2005). For instance, Martin et al (2009), comparing business ethics between managers from Germany and the US, concluded that orientations and approaches to responsible leadership differ.…”

“…In these ''stakeholder capitalism'' national models, employees, suppliers, customers and financial institutions are part of the context within which business leaders make decisions and firm performance is evaluated. Firms are expected to protect employee rights, collective bargaining tends to be coordinated, and corporate returns tend to be assessed on a long-term basis (Aguilera and Dencker 2004;Aguilera and Jackson 2010;Witt and Redding 2013). In such an environment, senior executives are more likely to adopt a long-term approach to CSR and focus on a broader group of constituents in their decisions and actions.…”

“…North American, European, and Asian cultural systems have generated very different assumptions about society, business and government (Aguilera and Jackson 2010;Matten and Crane 2005;Redding et al 2014;Redding and Witt forthcoming). Martin et al (2009) demonstrate that differences in cultural values and beliefs create expectations of acceptable and unacceptable leader behavior, which places constraints on the types of leader behavior and characteristics endorsed in a society.…”

Corporate governance and strategic human resources management in the UK financial services sector: the case of the RBS

“…to understand the 'mechanisms (used) to ensure that executives respect the rights and interests of company stakeholders, and that those stakeholders are held accountable for acting morally and responsibly for the generation, protection and distribution of wealth invested in the firm' (Aguilera et al 2008, p. 475;Aguilera and Jackson 2010). It is clear from cases in the UK financial services sector that some companies and executives have failed to act responsibly and/ or ethically in balancing their wealth creation and wealth protection roles, in much the same way as their American counterparts (Filatochev 2005;Davis 2009;Smallman, et al 2010;Kerr and Robinson 2011).…”