Comparative and International Corporate Governance

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The Academy of Management Annals

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Comparative and International Corporate Governance
Ruth V. Aguileraa; Gregory Jacksonb a University of Illinois at Urbana-Champaign, b Freie Universität Berlin, First published on: 05 July 2010

To cite this Article Aguilera, Ruth V. and Jackson, Gregory(2010) 'Comparative and International Corporate Governance',

The Academy of Management Annals, 4: 1, 485 — 556, First published on: 05 July 2010 (iFirst) To link to this Article: DOI: 10.1080/19416520.2010.495525 URL: http://dx.doi.org/10.1080/19416520.2010.495525

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The Academy of Management Annals Vol. 4, No. 1, 2010, 485–556

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Comparative and International Corporate Governance

RUTH V. AGUILERA*
University of Illinois at Urbana-Champaign

GREGORY JACKSON
Freie Universität Berlin

Abstract In this article, we examine the state of the art in comparative and international corporate governance by identifying the key research questions, main concepts, and paradigms of explanations of cross-country diversity in corporate governance. First, we discuss the multiple definitions of corporate governance across disciplines and explore how this multi-dimensional nature of corporate governance posses challenges when making cross-national comparisons. Second, we review existing comparative research on corporate governance and highlight some of the main characteristics of comparative analysis. Third, we analyze how comparative corporate governance has been understood from four different scholarly perspectives: economics and management, culture and sociology, legal, and political paradigms. We conclude from this third section that future research should make an effort to ruth-agu@uiuc.edu RuthAguilera 0000002010 00 Society Article 2010 Originalfor Research 1941-6520 Francis into Academy of Management Annals 10.1080/19416520.2010.495525 RAMA_A_495525.sgm Higher Education Taylor and (print)/1941-6067(online)

*Corresponding author. Email: ruth-agu@illinois.edu

ISSN 1941-6520 print/ISSN 1941-6067 online © 2010 Academy of Management DOI: 10.1080/19416520.2010.495525 http://www.informaworld.com

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486 • The Academy of Management Annals better integrate cross-disciplinary paradigms. Fourth, we investigate what insights these four perspectives bring to understand change and stability better in two particular governance dimensions: corporate ownership and the role of labor in comparative corporate governance. Finally, we conclude the article with some forward looking suggestions regarding (1)...
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