A Taxonomy of Systems of Corporate Governance


Weimer, Jeroen and Pape, Joost C. (1999) A Taxonomy of Systems of Corporate Governance. Corporate Governance: An International Review, 7 (2). pp. 152-166. ISSN 0964-8410

[img] PDF
Restricted to UT campus only
: Request a copy
Abstract:This paper argues that debate on corporate governance in an international context is hampered by the lack of a coherent framework. A taxonomy of systems of corporate governance is proposed as a remedy. The taxonomy is based upon eight characteristics: the prevailing concept of the firm, the board system, the salient stakeholders able to exert influence on managerial decision-making, the importance of stock markets in the national economy, the presence or absence of an external market for corporate control, the ownership structure, the extent to which executive compensation is dependent on corporate performance, and the time horizon of economic relationships. Four types of systems of corporate governance emerge: the Anglo-Saxon systems, the Germanic systems, the Latin systems and the Japanese system.

Item Type:Article
Copyright:© 1999 Wiley InterScience
Research Chair:
Link to this item:http://purl.utwente.nl/publications/58305
Official URL:https://doi.org/10.1111/1467-8683.00143
Export this item as:BibTeX
HTML Citation
Reference Manager


Repository Staff Only: item control page

Metis ID: 124048