Role of institutions in shaping corporate governance system: evidence from emerging economy.

Clicks: 291
ID: 104204
2020
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Abstract
Corporate governance (CG) is often split among rule and principle-based approaches to control in idiosyncratic institutional contexts. This split is often primed by the types of institutional conformations, their potencies, and the complementarities within them. Drawing on the theoretical foundation of institutional theory, this study theorizes CG practices and structures as institutionally resoluted and directed and explores the key institutional determinants of good CG practices in an emerging economy. Based on qualitative method, this study presents eight specific antecedents of good corporate governance practices in weak institutional settings (Pakistan). In particular, the study explores the extent to which certain underlying formal and informal institutional determinants, such as the auditing, political, legal, board, shareholders awareness, voting, culture and values play a determining role in corporate governance. This study advocates how each of these precursors must be implied, enunciated and hitched, on the basis of pertinent institutional peculiarities, in order to address contextual corporate governance challenges. This study contributes to the institutional theorizing of good corporate governance, by paying attention to the context, efficacy (instrumentality) and legitimacy (symbolic) in expounding the good corporate governance practices in an international business environment.
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arslan2020roleheliyon Use this key to autocite in the manuscript while using SciMatic Manuscript Manager or Thesis Manager
Authors Arslan, Muhammad;Alqatan, Ahmad;
Journal Heliyon
Year 2020
DOI 10.1016/j.heliyon.2020.e03520
URL
Keywords
corporate governance business economics interviews institutions family business qualitative industry determinants corporate finance ownership institutional theory agency theory business policy nvivo themes

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