The effectiveness of corporate governance mechanisms: ownership and media

Corporate Governance;Ownership;Media

Lee, Jun Ho

关键词: Corporate Governance;    Ownership;    Media;   

Others  :  https://www.ideals.illinois.edu/bitstream/handle/2142/95502/LEE-DISSERTATION-2016.pdf?sequence=1&isAllowed=y

美国|英语

来源: The Illinois Digital Environment for Access to Learning and Scholarship

【 摘 要 】

My dissertation investigates how multiple corporate governance mechanisms act not only for shareholders’ interests, but also protects the interests of divergent constituents across different institutional environments and times. The extant literature has typically viewed corporate governance as solving a principal–agent problem between shareholders and management. But useful insights about corporate governance must inevitably have a broader scope, encompassing such complex matters as heterogeneous owners with different institutional logics and intertwined internal/external governance mechanisms. The first study examines the ways in which managers respond to the different institutional logics of corporate governance represented by different owners in Japanese corporations through managerial earnings forecasts. The second study discusses how inter-organizational embeddedness between corporations and the media influences the media’s external governance role. These studies collectively explore how evolving and intertwined interests and demands of different constituents in institutional environments give rise to governance arrangements, not in a universal sense, but rather specifically for the individual firm and the context in which it is situated.