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Role of institutions in shaping corporate governance system: evidence from emerging economy

Corporate governance (CG) is often split among rule and principle-based approaches to control in idiosyncratic institutional contexts. This split is often primed by the types of institutional conformations, their potencies, and the complementarities within them. Drawing on the theoretical foundation...

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Detalles Bibliográficos
Autores principales: Arslan, Muhammad, Alqatan, Ahmad
Formato: Online Artículo Texto
Lenguaje:English
Publicado: Elsevier 2020
Materias:
Acceso en línea:https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7063146/
https://www.ncbi.nlm.nih.gov/pubmed/32181393
http://dx.doi.org/10.1016/j.heliyon.2020.e03520
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author Arslan, Muhammad
Alqatan, Ahmad
author_facet Arslan, Muhammad
Alqatan, Ahmad
author_sort Arslan, Muhammad
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description Corporate governance (CG) is often split among rule and principle-based approaches to control in idiosyncratic institutional contexts. This split is often primed by the types of institutional conformations, their potencies, and the complementarities within them. Drawing on the theoretical foundation of institutional theory, this study theorizes CG practices and structures as institutionally resoluted and directed and explores the key institutional determinants of good CG practices in an emerging economy. Based on qualitative method, this study presents eight specific antecedents of good corporate governance practices in weak institutional settings (Pakistan). In particular, the study explores the extent to which certain underlying formal and informal institutional determinants, such as the auditing, political, legal, board, shareholders awareness, voting, culture and values play a determining role in corporate governance. This study advocates how each of these precursors must be implied, enunciated and hitched, on the basis of pertinent institutional peculiarities, in order to address contextual corporate governance challenges. This study contributes to the institutional theorizing of good corporate governance, by paying attention to the context, efficacy (instrumentality) and legitimacy (symbolic) in expounding the good corporate governance practices in an international business environment.
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spelling pubmed-70631462020-03-16 Role of institutions in shaping corporate governance system: evidence from emerging economy Arslan, Muhammad Alqatan, Ahmad Heliyon Article Corporate governance (CG) is often split among rule and principle-based approaches to control in idiosyncratic institutional contexts. This split is often primed by the types of institutional conformations, their potencies, and the complementarities within them. Drawing on the theoretical foundation of institutional theory, this study theorizes CG practices and structures as institutionally resoluted and directed and explores the key institutional determinants of good CG practices in an emerging economy. Based on qualitative method, this study presents eight specific antecedents of good corporate governance practices in weak institutional settings (Pakistan). In particular, the study explores the extent to which certain underlying formal and informal institutional determinants, such as the auditing, political, legal, board, shareholders awareness, voting, culture and values play a determining role in corporate governance. This study advocates how each of these precursors must be implied, enunciated and hitched, on the basis of pertinent institutional peculiarities, in order to address contextual corporate governance challenges. This study contributes to the institutional theorizing of good corporate governance, by paying attention to the context, efficacy (instrumentality) and legitimacy (symbolic) in expounding the good corporate governance practices in an international business environment. Elsevier 2020-03-07 /pmc/articles/PMC7063146/ /pubmed/32181393 http://dx.doi.org/10.1016/j.heliyon.2020.e03520 Text en © 2020 The Author(s) http://creativecommons.org/licenses/by-nc-nd/4.0/ This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).
spellingShingle Article
Arslan, Muhammad
Alqatan, Ahmad
Role of institutions in shaping corporate governance system: evidence from emerging economy
title Role of institutions in shaping corporate governance system: evidence from emerging economy
title_full Role of institutions in shaping corporate governance system: evidence from emerging economy
title_fullStr Role of institutions in shaping corporate governance system: evidence from emerging economy
title_full_unstemmed Role of institutions in shaping corporate governance system: evidence from emerging economy
title_short Role of institutions in shaping corporate governance system: evidence from emerging economy
title_sort role of institutions in shaping corporate governance system: evidence from emerging economy
topic Article
url https://www.ncbi.nlm.nih.gov/pmc/articles/PMC7063146/
https://www.ncbi.nlm.nih.gov/pubmed/32181393
http://dx.doi.org/10.1016/j.heliyon.2020.e03520
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