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Author Ahmadjian, Christina L. ♦ Song, Jaeyong
Source CiteSeerX
Content type Text
File Format PDF
Subject Domain (in DDC) Computer science, information & general works ♦ Data processing & computer science
Subject Keyword Corporate Governance Reform ♦ South Korea ♦ Corporate Governance ♦ Institutional Change ♦ Local Actor ♦ Global Capital ♦ Shareholder Activist ♦ External Pressure ♦ Global Pressure ♦ Divergent Way ♦ Resource Dependency ♦ Foreign Investor ♦ Local Institution ♦ Comparative Study ♦ Comparative Business System ♦ Different Path ♦ Anglo-american Corporate Governance ♦ Business System ♦ Key Factor ♦ East Asia ♦ Large Corporation ♦ Key Word ♦ Monolithic Force
Abstract This paper examines the effect of global pressures on local institutions in a comparative study of corporate governance reform in Japan and South Korea. In the literature on business systems and institutional change, globalization often appears as a monolithic force that either overwhelms all in its path through convergence or is rejected. In this paper, we demonstrate that globalization, in the form of the spread of Anglo-American corporate governance to East Asia, resulted in neither convergence nor rejection, but rather, in two different paths of change. We argue that differences in patterns of reform stemmed from the divergent ways in which local actors—the state, shareholder activists, and large corporations—interacted with each other, and with foreign investors, to respond to external pressures. Two key factors defined these interactions: resource dependencies on global capital, and the way in which local actors framed the concept of corporate governance to fit their ideologies and advance their own interests. Key words: corporate governance, institutional change, comparative business systems
Educational Role Student ♦ Teacher
Age Range above 22 year
Educational Use Research
Education Level UG and PG ♦ Career/Technical Study
Learning Resource Type Article
Publisher Date 2004-01-01