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Corporate Governance And Organizational Survival Under Punctuational Change: The Case Of China's Burgeoning Banking Industry, 1897-1927, Sunny Li Sun, Yanli Zhang
Corporate Governance And Organizational Survival Under Punctuational Change: The Case Of China's Burgeoning Banking Industry, 1897-1927, Sunny Li Sun, Yanli Zhang
Department of Management Faculty Scholarship and Creative Works
How do different corporate governance structures fare under conditions of fundamental environmental transformations? Treating governance structure as a knowledge distribution mechanism embedded in institutional frameworks, the paper aims to propose that the efficiency of this knowledge diffusing process will increase organizational survival under a punctuational change. Using the case of Chinese banking industry during 1897-1927, a period of rapid technological, economic, and regulatory shifts. Money shops (qianzhuang) with decentralized, open and extended governance structure were better able to adapt to rapid changes in the environment and had a higher survival chance than ticket stores (piaohao) with centralized, closed and internalized …