This article integrates the literature on interorganizational relationships into six generalizable determinants of relationship formation, applies these determinants to the prediction of six types of interorganizational relations, and proposes hypotheses for future research that specify the conditions under which each determinant will he more likely to predict different types of relations. These determinants provide the basis for a general theory of interorganizational relationships and suggest that alternative theoretical perspectives on relationship formation provide important but only partial insights into why organizations enter into relationships with one another.

https://www.jstor.org/stable/pdfplus/258156.pdf

Determinants of Interorganizational Relationships: Integration and Future Directions

Evidence from research conducted on corporate accounting indicates that the interaction of environmental factors influences disclosure practices. The purpose of this study is to examine the importance of various corporate governance and cultural (race and education) characteristics, in addition to firm-specific factors, as possible determinants of voluntary (non-mandatory accounting and non-accounting information) disclosures in the annual reports of Malaysian listed corporations. The results of the regression analysis indicate significant associations (at the 5 percent level) between two corporate governance variables (viz. chair who is a non-executive director and domination of family members on boards) and the extent of voluntary disclosure. This finding has implications for corporate governance policy formulation by the Malaysian Institute of Corporate Governance (MISG). One cultural factor (proportion of Malay directors on the board) is significantly associated (at the 5 percent level) with the extent of voluntary disclosure suggesting that governmental focus on culture may solicit a response to secrecy from those who feel threatened.

https://papers.ssrn.com/sol3/Delivery.cfm/ABAC112.pdf?abstractid=336822&mirid=1&type=2

Culture, Corporate Governance and Disclosure in Malaysian Corporations

This paper presents systematic empirical evidence for the financialization of the US economy in the post-1970s period. While numerous researchers have noted the increasing salience of finance, there have been few systematic attempts to consider what this shift means for the nature of the economy, considered broadly. In large part, this omission reflects the considerable methodological difficulties associated with using national economic data to assess the rise of finance as a macro-level phenomenon shaping patterns of accumulation in the US economy. The paper develops two discrete measures of financialization and applies these measures to postwar US economic data in order to determine if, and to what extent, the US economy is becoming financialized. The paper concludes by considering some of the implications of financialization for two areas of ongoing debate in the social sciences: (1) the question of who controls the modern corporation; and (2) the controversy surrounding the extent to which globalization has eroded the autonomy of the state.

The financialization of the American economy

Evidence from research conducted on corporate accounting indicates that the interaction of environmental factors influences disclosure practices The purpose of this study is to examine the importance of various corporate governance and cultural (race and education) characteristics, in addition to firm-specific factors, as possible determinants of voluntary (non-mandatory accounting and non-accounting information) disclosures in the annual reports of Malaysian listed corporations The results of the regression analysis indicate significant associations (at the 5 per cent level) between two corporate governance variables ( viz  chair who is a non-executive director and domination of family members on boards) and the extent of voluntary disclosure This finding has implications for corporate governance policy formulation by the Malaysian Institute of Corporate Governance (MISG) One cultural factor (proportion of Malay directors on the board) is significantly associated (at the 5 per cent level) with the extent of voluntary disclosure suggesting that governmental focus on culture may solicit a response to secrecy from those who feel threatened

/pdf/culture-corporate-governance-and-disclosure-in-malaysian-2d8onpx6e0.pdf

Culture, corporate governance and disclosure in Malaysian corporations

Across the broad field of heterodox political economy, ‘neoliberalism’ appears to have become a rascal concept – promiscuously pervasive, yet inconsistently defined, empirically imprecise and frequently contested. Controversies regarding its precise meaning are more than merely semantic. They generally flow from underlying disagreements regarding the sources, expressions and implications of contemporary regulatory transformations. In this article, we consider the handling of ‘neoliberalism’ within three influential strands of heterodox political economy – the varieties of capitalism approach; historical materialist international political economy; and governmentality approaches. While each of these research traditions sheds light on contemporary processes of market-oriented regulatory restructuring, we argue that each also underplays and/or misreads the systemically uneven, or ‘variegated’, character of these processes. Enabled by a critical interrogation of how each approach interprets the geographies, modalities and pathways of neoliberalization processes, we argue that the problematic of variegation must be central to any adequate account of marketized forms of regulatory restructuring and their alternatives under post-1970s capitalism. Our approach emphasizes the cumulative impacts of successive ‘waves’ of neoliberalization upon uneven institutional landscapes, in particular: (a) their establishment of interconnected, mutually recursive policy relays within an increasingly transnational field of market-oriented regulatory transfer; and (b) their infiltration and reworking of the geoinstitutional frameworks, or ‘rule regimes’, within which regulatory experimentation unfolds. This mode of analysis has significant implications for interpreting the current global economic crisis.

Variegated neoliberalization: geographies, modalities, pathways

https://journals.sagepub.com/doi/pdf/10.1177/0486613409335093

The Financial and Economic Crisis of 2008: A Systemic Crisis of Neoliberal Capitalism

Introduction David M. Kotz, Terrence McDonough and Michael Reich Part I. The Theory of Social Structures of Accumulation: 1. Long swings and stages of capitalism David M. Gordon, Richard Edwards and Michael Reich 2. How social structures of accumulation decline and are built Michael Reich 3. Interpreting the social structure of accumulation approach David M. Kotz 4. Social structures of accumulation, contingent history, and stages of capitalism Terrence McDonough 5. The regulation theory and the social structure of accumulation approach David M. Kotz Part II. History, Institutions, and Macroeconomic Analysis: 6. The construction of social structures of accumulation in US history Terrence McDonough 7. The financial system and the social structure of accumulation Martin H. Wolfson 8. Alternative social structure of accumulation approaches to the analysis of capitalist booms and busts Thomas E. Weisskopf 9. The politics of the American industrial policy debate Jim Schoch Part III. Class, Race and Gender: 10. Shopfloor relations in the postwar capital-labor accord David Fairris 11. Towards a broader vision: race, gender and labor market segmentation in the social structure of accumulation framework Randy Aldelda and Chris Tilly Part IV. The International Dimension: 12. Accumulation and crisis in a small and open economy: the postwar social structure of accumulation in Puerto Rico Edwin Melendez 13. Apartheid and capitalism: social structure of accumulation or contradiction? Nicoli Nattrass 14. The social structure of accumulation approach and the regulation approach: a US-Japan comparison Tsuyoshi Tsuru 15. The global economy: new edifice or crumbling foundations? David M. Gordon Afterword: new international institutions and renewed world economic expansion David M. Kotz, Terrence McDonough and Michael Reich.

Social structures of accumulation: The Political Economy of Growth and Crisis

The financial and economic collapse that began in the United States in 2008 and spread to the rest of the world continues to burden the global economy. David Kotz, who was one of the few academic economists to predict it, argues that the ongoing economic crisis is not simply the aftermath of financial panic and an unusually severe recession but instead is a structural crisis of neoliberal, or free-market, capitalism. Consequently, continuing stagnation cannot be resolved by policy measures alone. It requires major institutional restructuring. Kotz analyzes the reasons for the rise of free-market ideas, policies, and institutions beginning around 1980. He shows how the neoliberal capitalism that resulted was able to produce a series of long although tepid economic expansions, punctuated by relatively brief recessions, as well as a low rate of inflation. This created the impression of a "Great Moderation." However, the very same factors that promoted long expansions and low inflation-growing inequality, an increasingly risk-seeking financial sector, and a series of large asset bubbles-were not only objectionable in themselves but also put the economy on an unsustainable trajectory. Kotz interprets the current push for austerity as an attempt to deepen and preserve neoliberal capitalism. However, both economic theory and history suggest that neither austerity measures nor other policy adjustments can bring another period of stable economic expansion. Kotz considers several possible directions of economic restructuring, concluding that significant economic change is likely in the years ahead.

The Rise and Fall of Neoliberal Capitalism

"Truly a distinguished piece of work, based on new data that had not been analyzed before There is an excellent combination of historical perspective, conscientious examination of a great mass of data, and penetrating analysis" (Robert Aaron Gordon, Charter Member of the Brookings Panel on Economic Activity) "Contends that since the Second World War, a small number of 'giant, well-established' banks in a few major cities have re-emerged as the major group that controls large corporations Places the financial control thesis in historical perspective from the Civil War to the present and then examines the control of the two hundred largest US corporations in 1967-69 in terms of owner control, financial control, and no identified center of control Also comments on the means of exercising controlthe author finds that a substantial portion of the largest nonfinancial corporations in 1967-69 were under the control of financial institutions; the control is exercised through the ownership of stock and the role of the bankers as creditors of the corporations" (Journal of Economic Literature) "Recent empirical evidence, made available through congressional hearings, reveals that large banking groups are exercising substantial influence over nonfinancial corporations This is accomplished through stock holdings, creditor relationships, and directorship ties In this excellent historical statistical analysis, Katz assesses the extent and impact of such control in a competitive economy" (Library Journal)

David M. Kotz

Papers

The Financial and Economic Crisis of 2008: A Systemic Crisis of Neoliberal Capitalism

Social structures of accumulation: The Political Economy of Growth and Crisis

The Rise and Fall of Neoliberal Capitalism

Bank Control of Large Corporations in the United States

Globalization and Neoliberalism