Accounting Auditing & Accountability Journal · 2018 · 50 citations · 70 references
BusinessCorporate GovernanceOrganization StudiesAgency TheoryFamily BusinessInstitutional TheoryCorporate Governance MechanismsCorporate Governance RegulationFamily Business GovernanceFamily Business ManagementFamily Firm GovernanceFamily OwnershipEmergent PropertiesFamily Board GovernanceFamily Business GroupsFamily Business InstitutionsFamily Business OwnershipFamily Governance StructureFamily-owned Business StructureGroup Corporate Governance
Purpose The purpose of this paper is to elaborate a political economy of corporate governance (CG) change and stability in family business groups (BGs) and assist in explaining why certain CG reforms fail in one context but work in others. Design/methodology/approach Three BGs in Bangladesh are studied. A mixture of data sources is used, namely interviews, observations of practices, historical documentation, company reports and research papers and theses. The results are analysed by applying Archer’s morphogenetic approach, focussing on both macro- and micro-processes of change. Findings A newly-adopted CG framework, which created incentives and pressures for family directors to act in the best interests of general shareholders, did not seem to alter apparently simple but complex internal structural set-ups. Thus, regulatory efforts to empower general shareholders did not produce the expected results. Following Archer’s morphogenetic approach, the authors identify key structural conditioning or emergent properties and agential strategies to explain why and how BGs opted for symbolic compliance and achieved lax regulation and enforcement. Research limitations/implications The paper opens up a new methodological and theoretical space for future CG research, especially by applying a meta-theoretical guideline such as the morphogenetic approach, for nuanced explanation and a more inclusive understanding of CG practices, reform and change in different organisational and institutional settings. Originality/value The morphogenetic approach aids in developing a political economy of CG change and stability and provides a nuanced explanation of CG practices. This is illustrated through an exploration of CG change initiatives in Bangladeshi BGs.
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Corporate Ownership Around the World
Florencio López‐de‐Silanes, Andrei Shleifer · The Journal of Finance · 1999 · 10.7K citations · Full text
Method in Social Science: A Realist Approach.
John Harp, Andrew Sayer · Contemporary Sociology A Journal of Reviews · 1986 · 2.6K citations
Humanities, Philosophy, Epistemology +14