Rahebeh Boroumand; Parviz Saeidi; Javad Sadeghi Panah
Volume 4, Issue 2 , April 2015, , Pages 118-133
Abstract
We studied panel data for corporate governance ratings in 51 countries between 1996 and 2005 to better understand what the country-level predictors of corporate governance legitimacy might be. Using neo-institutional theory, we found that all three forms of isomorphism influenced corporate governance ...
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We studied panel data for corporate governance ratings in 51 countries between 1996 and 2005 to better understand what the country-level predictors of corporate governance legitimacy might be. Using neo-institutional theory, we found that all three forms of isomorphism influenced corporate governance at the national-level. Specifically, both coercive isomorphic pressures were positively related to perceived corporate governance legitimacy. In addition, both mimetic isomorphic pressures were positively related to perceived legitimacy. Finally, one normative pressure (e.g., religious tension) was negatively related to perceived legitimacy. This study refines and extends the governance literature, as well as the institutional perspective.
