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Full-Text Articles in Business Law, Public Responsibility, and Ethics

Beyond The Dichotomous Worlds Hypothesis: Towards A Plurality Of Corporate Governance Logics, Jordan Otten Jan 2007

Beyond The Dichotomous Worlds Hypothesis: Towards A Plurality Of Corporate Governance Logics, Jordan Otten

Jordan Otten

The dichotomous worlds hypothesis holds that corporate governance systems worldwide are either based on the Anglo-American shareholder model or the Eurasian stakeholder model. We suggest a more fine-grained classification, based on five corporate governance logics –socially constructed, historical patterns of material practices, assumptions, values, beliefs, and rules by which all parties involved in economic productive activities structure their material interdependencies and provide meaning to the social reality of corporate life. These logics are discovered through a content analysis of the corporate governance reform codes of 38 countries.


Theories On Executive Pay: A Literature Overview And Critical Assessment, Jordan Otten Jan 2007

Theories On Executive Pay: A Literature Overview And Critical Assessment, Jordan Otten

Jordan Otten

Executive pay is a major issue in the corporate governance debate. As well in practice as in theory debate still exists how executive pay levels and structures can be explained. This paper provides an overview of 16 theories that have been used in the literature to explain the phenomenon. The theories can be classified into three types of approaches; 1) the value approach; 2) the agency approach; and 3) the symbolic approach. A critical assessment of the theories shows that the dominant use in the literature of the perfect contracting approach of agency theory neglects: 1) the socially determined symbolic ...