The paper analyzes the impact of financial globalization on corporate governance systems. While shareholder systems are relatively unaffected by globalization pressures, the burden of adjustment rests primarily on stakeholder systems, owing to their dominant non-market forms of coordination. Convergence theory therefore expects a transformation of stakeholder systems towards shareholder systems, whereas the ‘hybridization thesis’ argues for a combination of elements from shareholder and stakeholder systems as a result of globalization. The ‘Varieties of Capitalism’ approach expects stability in corporate governance systems and a continuation of differences between them.
| Identifer | oai:union.ndltd.org:Potsdam/oai:kobv.de-opus-ubp:4754 |
| Date | January 2005 |
| Creators | Börsch, Alexander |
| Publisher | Universität Potsdam, Extern. WeltTrends e.V. Potsdam |
| Source Sets | Potsdam University |
| Language | German |
| Detected Language | English |
| Type | Postprint |
| Format | application/pdf |
| Source | WeltTrends - Zeitschrift für Internationale Politik, 46 (2005), S. 41 - 56 |
| Rights | http://opus.kobv.de/ubp/doku/urheberrecht.php, Volltextzugriff: WeltTrends-Archiv - eingeschraenkter Zugriff |
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