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Corporate governance as a reform movement

Corporate governance as a reform movement Purpose – The purpose of this paper is to consider the way in which agency theory has crowded out other approaches to understanding the governance of modern businesses. The paper rescues the meaning and context which informed the American corporate governance reform movement originally and demonstrates how the economically predicated agency approach became dominant in academic considerations of corporate governance. Design/methodology/approach – Both primary and secondary sources were considered in a Foucauldian history of ideas approach. Findings – Other approaches to corporate governance have been pushed out of the mainstream of corporate governance discourse by an economic model which excludes many of the key issues which informed the notion originally. Practical implications – Dominant academic attitudes to corporate governance have occluded other ways in which the governance of corporations can be understood. Originality/value – Previous accounts of corporate governance have ignored the alternative approaches represented before agency theory became dominant. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Management History Emerald Publishing

Corporate governance as a reform movement

Journal of Management History , Volume 21 (2): 16 – Apr 13, 2015

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Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
1751-1348
DOI
10.1108/JMH-01-2014-0015
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of this paper is to consider the way in which agency theory has crowded out other approaches to understanding the governance of modern businesses. The paper rescues the meaning and context which informed the American corporate governance reform movement originally and demonstrates how the economically predicated agency approach became dominant in academic considerations of corporate governance. Design/methodology/approach – Both primary and secondary sources were considered in a Foucauldian history of ideas approach. Findings – Other approaches to corporate governance have been pushed out of the mainstream of corporate governance discourse by an economic model which excludes many of the key issues which informed the notion originally. Practical implications – Dominant academic attitudes to corporate governance have occluded other ways in which the governance of corporations can be understood. Originality/value – Previous accounts of corporate governance have ignored the alternative approaches represented before agency theory became dominant.

Journal

Journal of Management HistoryEmerald Publishing

Published: Apr 13, 2015

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