Corporate Governance and Firm Capabilities: A Comparison of Managerial, Alliance, and Personal Capitalisms |
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Authors: | Michael Carney Eric Gedajlovic |
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Institution: | (1) Concordia University, 1455 de Maisonneuve Blvd., West, Montreal, Quebec, Canada, H3G 1M8;(2) Erasmus University and The Rotterdam School of Management, Postbus 1738, 3000 DR Rotterdam, The Netherlands |
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Abstract: | Incentive structures embodied in different systems of corporate governance produce firms with inclinations towards the development of particular capabilities and strategic assets and disinclinations towards the development of others. To the extent that there is an excessive dependence upon any particular type of governance, an economy as a whole will be endowed with both its benefits and costs. As such, governance reform in East Asian economies may be better aimed at cultivating alternative governance institutions alongside existing relational institutions, rather than in converting these governance systems into facsimiles of the so-called Anglo-American model. |
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Keywords: | corporate governance capabilities strategic assets managerial capitalism alliance capitalism personal capitalism |
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