The impact of institutional changes on corporate governance mechanisms in transition economies |
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| Authors: | Son A Le Mark J Kroll Bruce A Walters |
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| Institution: | (1) Department of Management and Information Systems, College of Business, Louisiana Tech University and National University of Vietnam, PO Box 10318, Ruston, LA 71272, USA;(2) Department of Management and Information Systems, College of Business, Louisiana Tech University, PO Box 10318, Ruston, LA 71272, USA;(3) Department of Management and Information Systems, College of Administration and Business, Louisiana Tech University, PO Box 10318, Ruston, LA 71272, USA |
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| Abstract: | We examine how institutional changes affect corporate governance in transition economies. We develop a transition model that
specifies three stages of the transition process including the early, intermediate, and late. We develop a framework for assessing
the effectiveness of widely recognized corporate governance mechanisms (CGMs) in and across these stages. Our general proposition
is that as transition economies move from early, to intermediate, to late stages, effective CGMs tend to be those that are
based on state administrative control power, social networks and private orders, and market forces and formal institutions,
respectively. Our study has contributions and implications regarding the transition economies and the impacts of institutions on corporate
governance. |
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