KURUMSAL YÖNETİMİN FARKLI TEORİLER YOLUYLA DEĞERLENDİRİLMESİ

Banu Dincer

KURUMSAL YÖNETİMİN FARKLI TEORİLER YOLUYLA DEĞERLENDİRİLMESİ

Year 2013, Issue: 36, - , 01.06.2013

Abstract

This paper investigates the theories used in the studies about corporate governance by a literature review and brings in a critical perspective. While emphasizing on divergent parts of corporate governance theories, fundamentally polarized between shareholder perspective and stakeholder perspective, the invalidity of one single correct corporate governance approach in current changing conditions is highlighted and a suggestion using contingency theory is implied

Keywords

Corporate Governance, Stakeholder Approach, Shareholder Approach, Contingency Theory

References

AGUILERA, R. V., JACKSON, G. (2003) “The Cross-National Diversity of Corporate Governance: Dimensions and Determinants”, Academy of Management Review, 28(3): 447-465.
BLAIR, M. B., (1995), Ownership and Control: Rethinking Corporate Governance for the Twenty- First Century,
Brookings Institution Press, Washington. BUCHHOLZ, R. A. (1989), Business Environment and Public Policy: Implications for Management and Strategy
Formulation, 3rd edition, Prentice Hall, New Jersey. CARVER, J. (2000), “The Opportunity for Re-inventing Corporate Governance in Joint Venture Companies”,
Corporate Governance: An International Review, 8(1):75-80. CHARAN, R. (1998), Boards at Work: How Corporate Boards Create Competitive Advantage, Jossy- Bass
Publishers, San Francisco. CHILD, J. (1997), “Stratejic Choice in the Analysis of Action, Structure, Organizations and Environment: Retrospect and Prospect”, Organization Studies, 18(1): 43-76
DAVIS, J. H., SCHOORMAN, D. F. ve L. DONALDSON (1997), “Toward A Stewardship Theory Of
Management”, Academy of Management Review, 22(1): 20-47. DAVIES, Aç (1999), A Strategic Approach to Corporate Governance, Gower Publishing Ltd., Aldershot.
DEMIRAG, I. S. (1995), “Assessing Short-Term Perceptions of Group Finance Directors of Uk Companies”, The British Accounting Review, 27(4): 247-281.
DEMIRAG, Istemi S., CLARK, W. W. ve D. BLİNE (1998), “Financial Markets, Corporate Governance, and Management of R&D”, Demirag Istemi S. (Ed.), Corporate Governance, Accountability, and Pressures to Perform:
An International Study, JAI Press Inc., Connecticut, s. 93-120
DONALDSON, L. (2001), The Contingency Theory of Organization, Thousand Oaks, CA, Sage.
DONALDSON, T., PRESTON, L. E. (1995), “The Stakeholder Theory of The Corporation: Concepts, Evidence, And Implications”, Academy of Management Review, 20(1): 65-91.
FAMA, E. F.- JENSEN, M. C.(1983), “Separation of Ownership and Control”, Journal of Law and Economics, 26(2): 301-3
FILATOTCHEV, I., WRIGHT M., (2005), Corporate Governance Life-Cycle, London, Edward Elgar.
FILATOTCHEV, I., TOMS S. (2003), “Corporate Governance, Strategy and Survival in a Declining Industry: A study of UK Cotton Textile Companies”, Journal of Management Studies, 40(4), 895-920.
FLIGHSTEIN, N., FREELAND, R. (1995), “Theoretical and Comparative Perspectives on Corporate Organization”,
Annual Review of Sociology, 21(1): 21-43
FORBES, D. P., MILLIKEN, F. J. (1999), “Cognition and Corporate Governance: Understanding Boards of
Directors As Strategic Decision-Making Groups”, Academy of Management Review, 24(3):489-505. FREEMAN, E. R.(1984). Strategic Management: A Stakeholder Approach, Pitman Publishing Inc., Massachusetts.
FREEMAN, R.E., EVAN, W. M. (1990). “Corporate governance: A stakeholder interpretation”, Journal of
Behavioral Economics, 19(4): 337-359. FRIEDMAN, A. L., MILES, S. (2002). “Developing stakeholder theory”, Journal of Management Studies, 39(1): 1- 22
GALBRAITH, J. R. (1971). “Matrix Organizations Designs”, Business Horizons, 14(1): 29-40
HARRIS, M., RAVIV, A. (2008). “A Theory of Board Control and Size”, Review of Financial Studies”, Oxfors
University Press for Society for Financial Studies, 21(4): 1797-1832
JENSEN, M. C., MECKLING, W. H. (1976). “Theory of the firm: Managerial behavior, agency costs and ownership structure”, Journal of Financial Economics, 3(4): 305-360.
KAY, J., SILBERSTON, A.. (1996). Corporate Governance, in The Business of Economics, Oxford University Press, Oxford.
KEASEY, K., WRIGHT M. (1997). “ Corporate Governance, Accountability and Enterprise”, Keasey, Kevin- Wright
Mike (Eds.),. Corporate Governance: Responsibilities, Risks and Remuneration, John Wiley & Sons, New York, s.1- 22
KLEIN, P., SHAPIRO, D. ve YOUNG J., (2005). “Corporate Governance, Family Ownership and Firm Value: the Canadian evidence”, Corporate Governance: An International Review, 13(6): 769-784.
LARCKER, D.F., RICHARDSON, SCOTT A. ve TUNA I.A. (2007). “Corporate Governance, Accounting
Outcomes, and Organizational Performance”, The Accounting Review, 82(4): 963- 1008.
LAWRENCE, P.R., LORSCH J.W. (1967). “Differentiation and Integration in Complex Organizations”,
Administrative Science Quarterly, 12(1): 1-47
LEARMOUNT, S. (2002). Corporate Governance: What Can be Learned from Japan?, Oxford University Press, Oxford.
LETZA, S., SUN, X. ve KIRKBRIDE, J. (2004). “Shareholding versus stockholding: A critical review of corporate governance”, Corporate Governance: An international Review, 12(3): 242-262.
LYNALL, Matthew D., GOLDEN Brian R. ve HILLMAN Amy. (2003). “Board composition from adolescence to maturity: a multitheoretic view”, Academy of Management Review, 28(3), 416-431.
MILES, R.H., SNOW, C.C. (1984). “Designing Strategic Human Resource Systems”, Organisational Dynamics, 13(1): 36-52.
O’SULLIVAN M. (2000). “The Innovative Enterprise and Corporate Governance”, Cambridge Journal of Economics, 24(4): 393-416
PARUM, E. (2005). “Does Disclosure on Corporate Governance Lead to Openness and Transparency in How
Companies are Managed?”, Corporate Governance: An International Review, 13(5): 702-709. PESQUEUX, Y. (2005). “Corporate governance and accounting systems: a critical Perspective”, Critical Perspectives on Accounting, 16(6): 797–823.
PETTIGREW, A.M. (1992). “On Studying Managerial Elites”, Strategic Management Journal, 13 (Special Issue): 163-1
SHLEIFER, A., VISHNY, R.W. (1997). “A Survey of Corporate Governance”, The Journal of Finance, 52(2): 737- 7
SIMONS, R. (1994). “How new top managers use control as levers of stratejic renewal”, Stratejic Management Journal, 15(3): 169-189
SIMONS, R. (1995). Levers of Control: How Managers Use Innovative Control Systems to Drive Stratejic Renewal,
Harvard Business School Press, Boston. TURNBULL, S. (1997). “Corporate Governance: Its Scope, Concerns, and Theories”, Corporate Governance: An
International Review, 5(4): 180-205
TRICKER, B. (2000). “Editorial: Corporate Governance – the subject whose time has come”, Corporate Governance:
An International Review, 8(4): 289-296. WILLIAMSON, O.E. (1975). Markets and Hierarchies: Analysis and Antitrust Implications, Free Press, New York.
WILLIAMSON, O.E. (1979). “Transaction-Cost Economics: The Governance of Contractual Relations”, Journal of
Law and Economics, 22(1): 233-261. WILLIAMSON, O.E. (1981). “The Economics of Organization: The Transaction Cost Approach” The American
Journal of Sociology, 87(3): 548-577. WILLIAMSON, O.E. (1983). “Credible Commitments: Using Hostages to Support Exchange”, The American Economic Review, 73(4): 519-540.
WILLIAMSON, O.E. (1984). “Corporate Governance”, The Yale Law Journal, 93(7): 1197- 1230.
WILLIAMSON, O.E. (1996). The Mechanisms of Governance, Oxford University Press, New York.