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Origins of Corporate Governance in the USA, Sweden and FranceUniversity of Connecticut, USA and EM Lyon, France
University of New Hampshire, USA
Kristianstad University College, Sweden
EDHEC Business School, France We reason that agency theorys behavioral assumptions may too closely reflect the US institutional context to explain the governance heritages that exist elsewhere. We propose that what constitutes opportunistic behavior and what can be done to limit it may vary due to differences in national background and formal institutions. We then test the validity of this nationally bounded model using historical sociology analysis of three nations whose corporate governance heritages are believed to differ (USA, Sweden, and France). Specifically, we review their political, cultural, and economic institutions to explore the different ways that their governance practices have evolved and infer causes for these historical variations.
Key Words: corporate governance principalagent relations Sweden France USA
Organization Studies, Vol. 26, No. 6,
867-888 (2005) This article has been cited by other articles:
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