Corporate governance and firm capabilities: A comparison of managerial, alliance, and personal capitalisms

Asia Pacific Journal of Management

Volumn 18, Issue 3, 2001, Pages 335-354

  Carney, Michael ^a   Gedajlovic, Eric ^b  

^a Gina Cody School of Engineering and Computer Science   (Canada)

^b ERASMUS UNIVERSITY   (Netherlands)

Author keywords

Alliance capitalism; Capabilities; Corporate governance; Managerial capitalism; Personal capitalism; Strategic assets

Indexed keywords

EID: 18144380894     PISSN: 02174561     EISSN: 15729958     Source Type: Journal    
DOI: 10.1023/A:1010649828352     Document Type: Review

References (109)

1. Alchian, A.A. and H. Demsetz (1972). "Production, Information Costs and Economic Organization." American Economic Review 62, 777-795.
2. Amihud, Y. and B. Lev (1981). "Risk Reduction as a Managerial Motive for Conglomerate Mergers." Bell Journal of Economics 12, 605-617.
3. Aoki, M. (1984). The Co-Operative Game Theory of the Firm. Cambridge: Cambridge University Press.
4. Aoki, M. (1999). "A Note on the Role of Banking in Developing Economies in the Aftermath of the East Asian Crisis." Presented at the 1st ABCDE-Europe Conference in Paris. Washington: World Bank. June.
5. Aoki, M., B. Gustaffson, and O.E. Williamson (1990). The Firm as a Nexus of Treaties. London: Sage.
6. Ashby, W.R. (1956). Introduction to Cybernetics. New York: Wiley.
7. Barnard, C.I. (1938). The Functions of the Executive. Cambridge, MA: Harvard University Press.
8. Bartlett, C. and S. Ghoshal (1988). Managing across Borders: The Transnational Solution. Cambridge, MA: Harvard Business School Press.
9. Berle, A.A. and C.G. Means (1932). The Modern Corporation and Private Property. New York, NY: Commerce Clearing House.
10. Biggart, N.W. and G.G. Hamilton (1992). "On the Limits of a Firm-Based Theory to Explain Business Networks: The Western Bias of Neoclassical Economics." In N. Nohria and R.G. Eccles (eds.), Networks and Organizations: Structure, Form and Action. Boston: Harvard Business School Press, pp. 471-490.
11. Brickley, J.A. and F.H. Dark (1987). "The Choice of Organizational Form: The Case of Franchising." Journal of Financial Economics 18, 401-420.
12. Caprio, G. (1998). Banking on Crises: Expensive Lessons from Recent Financial Crises. Washington, DC: The World Bank, June.
13. Carney, M. (1998a). "The Competitiveness of Networked Production: The Role of Asset Specificity and Trust." Journal of Management Studies 35, 457-479.
14. Carney, M. (1998b). "A Management Capacity Constraint? Barriers to the Development of the China Family Business." Asia-Pacific Journal of Management 15, 137-162.
15. Carney, M. and E. Gedajlovic (1991). "Vertical Integration in Franchising Systems: Agency Theory and Resource Explanations." Strategic Management Journal 12, 607-629.
16. Carney, M. and E. Gedajlovic (2001). "The Co-Evolution of Institutional Environments and Organizational Strategies: The Rise of Family Business Groups in the ASEAN Region." Organization Studies 22.5.
17. Chandler, A.D. (1977). The Visible Hand: The Managerial Revolution in American Business. Cambridge, MA: Belknap Press.
18. Chandler, A.D. (1990). Scale and Scope: The Dynamics of Industrial Capitalism. Cambridge, MA: Harvard University Press.
19. Chandler, A.D. (1992). "Managerial Enterprise and Competitive Capabilities." Business History Review 34, 11-41.
20. Chandler, A.D., F. Amatori, and T. Hikino (1997). Big Business and the Wealth of Nations. Cambridge, U.K.: Cambridge University Press.
21. Chen, M. (1995). Asian Management Systems: Chinese, Japanese and Korean Styles of Business. London: Routledge.
22. Claessens, S. (1998). Systematic Bank and Corporate Restructuring: Experience and Lessons for East-Asia. Washington: World Bank.
23. Claessens, S., S. Djankov, J. Fan, and L. Lang (1999). Expropriation of Minority Shareholders: Evidence from East Asia. World Bank working paper, February.
24. Conrad, A. (1982). "Constitutional Rights of the Corporate Person." The Yale Law Journal 91, 1641-1658.
25. Cookson, R. (1997). "A Whopping Explosion: A Survey of Japanese Finance." The Economist June 28, 1-18.
26. Cyert, R.A. and J.G. March (1963). A Behavioral Theory of the Firm. Englewood Cliffs, NJ: Prentice-Hall.
27. De Jong, H.W. (1995). "European Capitalism: Between Freedom and Social Justice." Review of Industrial Organization 10, 399-419.
28. Demsetz, H. and K. Lehn (1985). "The Structure of Corporate Ownership: Causes and Consequences." Journal of Political Economy 93, 1155-1177.
29. Dore, R. (1998). "Asian Crisis and the Future of the Japanese Model." Cambridge Journal of Economics 22(6), 773-787.
30. Egelhoff, W.G. (1993). "Great Strategy or Great Strategy Implementation - Two Ways of Competing in Global Markets." Sloan Management Review 34, 37-50.
31. Fama, E.F. and M.C. Jensen (1983). "The Separation of Ownership and Control." Journal of Law and Economics 26, 301-328.
32. Fukao, M. (1995). Financial Integration, Corporate Governance and the Performance of Multinational Companies. Washington, DC: The Brookings Institution.
33. Fukao, M. (1999). Japanese Financial Instability and Weakness in the Corporate Governance Structure. Paris: OECD.
34. Fukuyama, F. (1995). Trust: The Social Virtues and the Creation of Prosperity. New York: Free Press.
35. Garran, R. (1998). Tigers Tamed: The End of the Asian Miracle. Honolulu: University of Hawaii Press.
36. Gedajlovic, E.R. and D.M. Shapiro (1998). "Management and Ownership Effects: Evidence from Five Countries." Strategic Management Journal 19, 533-553.
37. Gedajlovic, E.R. and D.M. Shapiro (2001). "National Systems of Corporate Governance." Global Focus 13.
38. Gerlach, M.L. (1992). Alliance Capitalism: The Social Organization of Japanese Business. Berkeley: University of California Press, pp. 143-157.
39. Ghemawat, P. and T. Khanna (1998). "The Nature of Diversified Business Groups: A Research Design and Two Case Studies." Journal of Industrial Economics 46, 35-61.
40. Glasmeir, A. (1994). "Flexibility and Adjustment: The Hong Kong Watch Industry and Global Change." Growth and Change 25, 223-246.
41. Granovetter, M. (1985). "Economic Action and Social Structure: The Problem of Embeddedness." American Journal of Sociology 91, 481-501.
42. Greenspan, A. (1999). Remarks Made by US Federal Reserve Chairman before to World Bank and The International Monetary Fund, Program of Seminars, Washington, DC. September 27, 1999.
43. Goldstein, M. (1998). The Asian Financial Crisis: Causes, Cures, and Systemic Implications. Washington, DC: Institute for International Economics.
44. Hall, R.H. and W. Xu (1990). "Run Silent, Run Deep: A Note on the Ever Pervasive Influence of Cultural Differences on Organizations in the Far East." Organization Studies 11, 596-616.
45. Harris, M. and A. Raviv (1991). "The Theory of Capital Structure." Journal of Finance 46, 297-355.
46. Hamilton, G.G. and N.W. Biggart (1988). "Market, Culture and Authority: A Comparative Analysis of Management in the Far East." American Journal of Sociology 94, S52-S94.
47. Henderson, C. (1998). Asia Falling: Making Sense of the Asian Crisis and Its Aftermath. New York: Business Week Books.
48. Hendeson, R. and I. Cockburn (1996). "Scale, Scope, and Spillovers: The determinants of Research Productivity in Drug Discovery." Rand Journal of Economics 27, 32-59.
49. Hill, C.W.L. (1993). "National Institutional Structures, Transaction Cost Economizing and Competitive Advantage: The Case of Japan." Organization Science 6, 119-131.
50. Hymer, S.H. (1960). "The International Operations of National Firms: A Study of Direct Foreign Investment." Ph.D Dissertation, Massachusetts Institute of Technology, Cambridge, MA.
51. Jensen, M. (1989). "The eclipse of the public corporation." Harvard Business Review May-June, 67-74.
52. Jensen, M.C. and W.H. Meckling (1976). "Theory of the Firm: Managerial Behaviour, Agency Costs and Ownership Structure." Journal of Financial Economics 3, 305-360.
53. Joskow, P.L. (1988). "Asset Specificity and the Structure of Vertical Relationships: Empirical Evidence." Journal of Law, Economics and Organization 4, 95-118.
54. Kao, J. (1993). "The Worldwide Web of Chinese Business." Harvard Business Review March-April, 24-36.
55. Kester, C.W. (1992). "Industrial Groups as Systems of Contractual Governance." Oxford Review of Economic Policy 8, 24-44.
56. Khanna, T. and K. Palepu (1997). "Why Focused Strategies May be Wrong for Emerging Markets." Harvard Business Review July-August, 41-51.
57. Khanna, T and K. Palepu (1999). "The Right Way to Restructure Conglomerates in Emerging markets." Harvard Business Review 77, 125-134.
58. La Porta, R., F. Lopez-de-Silanes, and A. Shleifer (1999). "Corporate Ownership Around the World." Journal of Finance 54, 471-517.
59. La Porta, R., F. Lopez-de-Silanes, A. Shleifer, and R.W. Vishny (1999). "The Quality of Government." Journal of Law Economics and Organization 15, 222-279.
60. Lewin, K. (1951). Field Theory in Social Science. New York: Harper and Row.
61. Limlingan, V.S. (1986). The Overseas Chinese in ASEAN: Business Strategies and Management Practises. Manila: Vita Development Corp.
62. Lui, T.L. and S.A. Chui (1994). "A Tale of Two Industries: The Restructuring of Hong Kong's Garment-Making and Electronic Industries." Environment and Planning 26, 53-70.
63. Maher, M. and T. Andersson (1999). Corporate Governance: Effects on Firm Performance and Economic Growth. Paris: OECD.
64. Markides, C.C. and P.J. Williamson (1996). "Corporate Diversification and Organizational Structure: A Resource-Based View." Academy of Management Journal 39, 340-367.
65. Mayer, C. (1996). "Corporate Governance, Competition and Performance." OECD Economic Studies 27, 7-34.
66. McKinnon, R.I. and H. Pill (1998). "International Overborrowing: A Decomposition of Credit and Currency Risk." World Development 26, 1267-1282.
67. Meyer, M.W. and L.G. Zucker (1989). Permanently Failing Organizations. Newbury Park, CA: Sage.
68. Miles, R.E. and C.C. Snow (1987). "Network Organization: New Concepts for New Forms." California Management Review 28, 62-73.
69. Miller, M.H. (1998). "Financial Markets and Economic Growth." Journal of Applied Corporate Finance 11, 8-14.
70. Molz, R. and E.R. Gedajlovic (1992). Transitional Economies, Corporate Theory and Privatization. Advances in International Comparative Management. Greenwich, JAI Press, Vol. 7, pp. 139-155.
71. Morck, R., A. Shleifer, and R.W. Vishny (1988). "Management Ownership and Market Evaluation: An Empirical Investigation." Journal of Financial Economics 79, 842-852.
72. Morin, F. (1998). "The Privatization Process and Corporate Governance. The French Case." Corporate Governance, State Owned Enterprises and Privatization. OECD Proceedings. Paris Organization for Economic Cooperation and Development, pp. 63-87.
73. Nelson, R.P. and S.G. Winter (1982). An Evolutionary Theory of Economic Change. Cambridge, MA: Harvard University Press.
74. Penrose, E.T. (1959). The Growth of the Firm. New York: Wiley and Sons.
75. Pfeffer, J. and G.R. Salancik (1978). The External Control of Organizations: A Resource Dependence Perspective. New York: Harper and Row.
76. Porter, M.E. (1996). "What Is Strategy?" Harvard Business Review November-December, 61-78.
77. Prahalad, C.K. and G. Hamel (1990). "The Core Competence of the Corporation." Harvard Business Review 68, 79-91.
78. Prowse, S. (1998). Corporate Governance: Emerging Issues and Lessons from East Asia. Washington: World Bank.
79. Prowse, S.D. (1996). "Corporate Finance in International Perspective: Legal and Regulatory Influences on Financial System Development." Federal Reserve Bank of Dallas Economic Review Third Quarter, 2-16.
80. Pyke, F., G. Becattini, and E. Sengenberger (1990). Industrial Districts and Inter-Firm Co-operation in Italy, Geneva: International Institute for Labour Studies.
81. Rajan, R.G. and L. Zingales (1998). "Which Capitalism? Lessons from the East Asian Crisis." Journal of Applied Corporate Finance 11, 40-48.
82. Redding, S.G. (1994). "Competitive Advantage in the Context of Hong Kong." Journal of Far Eastern Business 1, 71-89.
83. Redding, S.G. (1990). The Spirit of Chinese Capitalism. New York: De Gruyter.
84. Roe, M.J. (1994). Strong Managers, Weak Owners. Princeton: Princeton University Press.
85. Roth, C.W. (1996). "Concentration of Ownership and the Composition of the Board: An Examination of Canadian Publicly Listed Corporations." Canadian Business Law Journal 26, 226-254.
86. Sabel, C. (1988). "The Resurgence of Regional Economies." In P. Hirst and J. Zeitlin (eds.), Reversing Regional Decline. Oxford: Oxford University Press.
87. Sandstrom, S. (1998). "The East Asia Financial Crisis and the Role of the World Bank." Statement to the Bretton Woods Committee by Managing Director. Washington: The World Bank. February 13.
88. Saxenian, A. (1990). "Regional Networks and the Resurgence of Silicon Valley." California Management Review Fall, 89-112.
89. Scott, A.J. (1996). "Regional Motors of the Global Economy." Futures 25, 391-411.
90. Seagrave, S. (1995). Lords of the Rim: The Invisible Empire of the Overseas Chinese. London: Bantam.
91. Selznick, P. (1957). Leadership in Administration. Berkeley, CA: University of California Press.
92. Shleifer, A. and R. W. Vishny (1997). "A Survey of Corporate Governance." The Journal of Finance 52, 737-783.
93. Stopper, M. and B. Harrison (1991). "Flexibility, Hierarchy and Regional Development: The Changing Structure of Industrial Production Systems and Their Forms of Governance in the 1990s." Research Policy 20, 407-422.
94. Teece, D. (1986). "Profiting from Technological Innovation: Implications for Integration, Collaboration, Licensing, and Public Policy." Research Policy 15, 285-305.
95. Teece, David J. (1998). "Capturing Value from Knowledge Assets: The New Economy, Markets for Know-How, and Intangible Assets." California Management Review 40, 55-79.
96. Vogel, E. (1988). One Step Ahead in China. Cambridge, MA: Harvard University Press.
97. Walsh, J.P. and J.K. Seward (1990). "On the Efficiency of Internal and External Control Mechanisms." Academy of Management Review 15, 421-458.
98. Weidenbaum, M. and S. Hughes (1996). The Bamboo Network: How Expatriate Chinese Entrepreneurs are Creating a New Economic Superpower in Asia. New York: Free Press.
99. Wernerfelt, B. (1984). "A Resource-Based View of the Firm." Strategic Management Journal 5, 171-180.
100. Whitley, R. (1992). Business Systems in East Asia: Firms, Markets and Societies. London: Sage.
101. Williamson, O.E. (1975). Markets and Hierarchies: Analysis and Antitrust Implications. New York, NY: Free Press.
102. Williamson, O.E. (1985). The Economic Institutions of Capitalism. New York, NY: Free Press.
103. Williamson, O.E. (1991 ). "Comparative Economic Organization: The Analysis of Discrete Structural Alternatives." Administrative Science Quarterly 36, 269-296.
104. Williamson, O.E. (1999). "Strategy Research: Governance and Competence Perspectives." Strategic Management Journal 20, 1087-1188.
105. Wong, S.L. (1988). "The Applicability of Asian Family Values to Other Sociocultural Settings." In PL. Berger and M.H.H. Hsiao (eds.), In Search of an East Asian Development Model. New Brunswick: Transaction Books.
106. World Bank, The (1993). The East Asian Miracle: Economic Growth and Public Policy. Oxford: Oxford University Press.
107. Yasui, T. (1999). Corporate Governance in Japan. Paris: OECD.
108. Yoshihara, K. (1988). The Rise of Ersatz Capitalism in South-East Asia. Oxford: Oxford University Press.
109. Yoshimura, N. and P. Anderson (1999). Inside the Kaisha: Demystifying Japanese Business Behaviour. Boston, MA: Harvard Business School Press.