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Corporate Governance Deviance, Ruth V. Aguilera, William Q. Judge, Siri A. Terjesen
Corporate Governance Deviance, Ruth V. Aguilera, William Q. Judge, Siri A. Terjesen
Management Faculty Publications
We develop the concept of corporate governance deviance and seek to understand why, when, and how a firm adopts governance practices that do not conform to the dominant governance logic. Drawing on institutional theory, coupled with both the entrepreneurship and corporate governance literature, we advance a middle-range theory of the antecedents of corporate governance deviance that considers both the institutional context and firm-level agency. Specifically, we highlight the centrality of a firm's entrepreneurial identity as it interacts with the national governance logic to jointly create corporate governance discretion (i.e., the latitude of accessible governance practices) within the firm. We argue …