Corporate governance research based on agency theory has been criticized for being “under-contextualized,” and for evaluating various governance practices independently. To address both criticisms, we take a configurational approach and show how firm-level governance practices interact with informational asymmetries associated with a firm’s industry. By examining foreign Initial Public Offerings (IPOs) that have chosen to list on London stock exchanges, we demonstrate that an assessment of the firm-level corporate governance configurations is incomplete without taking into account the firm’s industry affiliation. Our use of fs/QCA underscores the possibilities configurational approaches have in advancing theories of corporate governance.
Bell, R., Aguilera, R. and Filatotchev, I. (2013), "Chapter 7 Corporate Governance and Configuration Research: The Case of Foreign IPOs Listing in London", Fiss, P., Cambré, B. and Marx, A. (Ed.) Configurational Theory and Methods in Organizational Research (Research in the Sociology of Organizations, Vol. 38), Emerald Group Publishing Limited, Bingley, pp. 159-180. https://doi.org/10.1108/S0733-558X(2013)0000038011Download as .RIS
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