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Diffusion of corporate governance practices : the Dutch response to pressures for shareholder value

Bezemer, Pieter-Jan, Zajac, Edward, Van den Bosch, Frans, & Volberda, Henk (2011) Diffusion of corporate governance practices : the Dutch response to pressures for shareholder value. In EURAM'11 Proceedings, Tallinn, Estonia.

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Abstract

As part of a larger literature focused on identifying and relating the antecedents and consequences of diffusing organizational practices/ideas, recent research has debated the international adoption of a shareholder-value-orientation (SVO). The debate has financial economists characterizing the adoption of an SVO as performance-enhancing and thus inevitable, with behavioral scientists disputing both claims, invoking institutional differences. This study seeks to provide some resolution to the debate (and advance current understanding on the diffusion of practices/ideas) by developing a socio-political perspective that links the antecedents and consequences of an SVO. In particular, we introduce the notion of misaligned elites and misfitted practices in our analysis of how and why differences in the technical and cultural preferences of major owners will influence a firm’s adoption and (un)successful implementation of an SVO among the largest 100 corporations in the Netherlands from 1992-2006. We conclude with a discussion of the implications of our perspective and our findings for future research on corporate governance and the diffusion of organizational practices/ideas.

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ID Code: 43329
Item Type: Conference Paper
Keywords: Practice/idea Diffusion, Shareholder Value Orientation, Ownership Structure, Socio-political Processes, Netherlands
ISBN: 9789985982471
Subjects: Australian and New Zealand Standard Research Classification > COMMERCE MANAGEMENT TOURISM AND SERVICES (150000) > BUSINESS AND MANAGEMENT (150300) > Corporate Governance and Stakeholder Engagement (150303)
Divisions: Current > Research Centres > Australian Centre for Entrepreneurship
Current > QUT Faculties and Divisions > QUT Business School
Current > Schools > School of Management
Copyright Owner: Copyright © 2010 EURAM.
Deposited On: 18 Jul 2011 10:57
Last Modified: 16 Oct 2014 11:19

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