Stages of Corporate Governance In Transition Economies


Corporate Governance
Transition Economies

How to Cite

Stages of Corporate Governance In Transition Economies. (2011). Journal of Business Strategies, 28(2), 151-175.


We develop a model of corporate governance stages in transition economies,
including bureaucratic control-based; relational; and rule, market-based corporate
governance. We demonstrate how institutions shape stakeholders’ dominant sources
of control power and firms’ dominant origins of resources within and across these
stages. We then theorize how these driving forces influence the effectiveness of these
corporate governance stages, and how the shift from one stage of corporate governance
to another comes about. Our paper therefore contributes to the understanding
of the development and nature of corporate governance in transition economies.


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