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Corporate Governance and Firm OrganizationMicrofoundations and Structural Forms$
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Anna Grandori

Print publication date: 2004

Print ISBN-13: 9780199269761

Published to Oxford Scholarship Online: September 2007

DOI: 10.1093/acprof:oso/9780199269761.001.0001

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Comparative Institutional Analysis of Corporate Governance

Comparative Institutional Analysis of Corporate Governance

Chapter:
(p.31) 1 Comparative Institutional Analysis of Corporate Governance
Source:
Corporate Governance and Firm Organization
Author(s):

Masahiko Aoki (Contributor Webpage)

Publisher:
Oxford University Press
DOI:10.1093/acprof:oso/9780199269761.003.0002

This chapter applies a ‘comparative institutional analysis’ approach to CG. It criticizes the property right approach for being a special case, and develops a more general model of governance with shifting allocations of property rights to different internal and external actors, contingent to the overall economic performance of the firm. This contingent relational governance solution is deemed to be complementary with an uncontingently horizontal organization, at least in innovative activities. The Silicon Valley model is discussed as supportive evidence of this mode of CG.

Keywords:   comparative institutional analysis, property right theory, horizontal organization, contingent governance, relational governance, Silicon Valley

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