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Corporate group
About: Corporate group is a research topic. Over the lifetime, 1747 publications have been published within this topic receiving 46868 citations.
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TL;DR: In this article, the authors make the case for increased centrality of cultural theory within corporate law and lay out some of the major challenges and implications that lie ahead as this development takes hold.
Abstract: Recent Supreme Court cases have entrenched a new image of corporate civic identity, assigning to the corporate person rights and abilities based upon the cultural characteristics, social ties, civic commitments, and internal lives of the human beings involved in it. This vision of the corporation is exemplified in recent cases implicating a corporate right to engage in political speech (Citizens United v Federal Election Commission) and a right of corporations to be free of government interference regarding religious convictions (Burwell v Hobby Lobby Stores, Inc.). Although much is being written about the soundness of the results in these cases and potential inconsistencies of the legal analysis that led to these results, this article uses them to introduce a normatively potent theoretical perspective on corporate law that has for too long been exiled to the periphery of legal theorizing. When persons interact within a social system, social theories of culture – not just microeconomic theories of individual incentives or ethical theories of individual duty – are required to fully understand the rights, norms, behaviors, and duties of such persons. The law’s transformation of the corporation into a unique civic person capable of holding and expressing opinions and beliefs to other members of its social community thus urgently demands that corporate law scholars take cultural theory seriously if they are to fully understand the rights, norms, behaviors, and duties of modern corporations. This article makes the case for this increased centrality of cultural theory within corporate law and lays out some of the major challenges and implications that lie ahead as this development takes hold.
6 citations
Book Chapter•
01 Jan 2006
TL;DR: Consolidation: how and when as discussed by the authors The issue of consolidation is discussed in detail in Section 5.2.1.2... The issue is discussed and discussed in Section 2.3.
Abstract: . 200 I. The Issue. . 200 II. Consolidation: how and when . 205 . A...Substantive.Consolidation. . 205 . B...Less.Radical.Solutions . 207 III. Conclusion . 210 IV. Bibliography . 211
6 citations
01 Jan 2008
TL;DR: In this paper, the authors investigated the impact of board member characteristics on the internationalization performance of firms affiliated with family-owned and controlled business groups and found that firms which have older and more educated boards with greater foreign country exposure and family representation outperform others in one of the measures of internationalisation performance, namely the existence of outward foreign direct investment (FDI).
Abstract: This study investigates the impact of board member characteristics on the internationalization performance of firms affiliated with family-owned and controlled business groups. The resourcebased view of the firm establishes the theoretical framework of the study. As boards of directors establish a source of human capital for firms, board member characteristics are expected to influence firms’ internationalization performance through their impact on directors’ ability to fulfill their roles of service and resource acquisition. The publicly listed affiliates of six business groups establish the sample of the study. Findings reveal that firms which have older and more educated boards with greater foreign country exposure and family representation outperform others in one of the measures of internationalization performance, namely the existence of outward foreign direct investment (FDI). However, board member characteristics do not seem to influence a firm’s export intensity or geographical diversification.
6 citations
01 Jan 2010
TL;DR: In this paper, the authors examine how political ties maintained by a firm with rival political parties affect the firm's entry into new industries and find that a diverse portfolio of political ties may facilitate entries when the political parties are relatively evenly matched in political power, but may induce adverse effects when there is substantial power distance between political parties.
Abstract: This study examines how political ties maintained by a firm with rival political parties affect the firm’s entry into new industries. Drawing on the social network research, resource dependence theory, and corporate political strategy literature, we argue that the impact of a firm’s portfolio of political ties on market entry depends on the distribution of political power among rival political parties and the concomitant interdependency between the focal firm and its political partners. A diverse portfolio of political ties may facilitate entries when the political parties are relatively evenly matched in political power, but may induce adverse effects when there is substantial power distance between political parties. Moreover, the impact of portfolios of political ties on market entry is contingent on the internal resources of politically connected firms. Using the context of political ties maintained by Taiwanese business groups from 1998-2004, we find strong support for the proposed effects. The findings have implications for research on the corporate political strategy, contingencies of social relationships, the expansion of multi-business firms, and the organization of
6 citations
Posted Content•
TL;DR: The Australian National Report on Corporate Governance for the 18th International Academy of Comparative Law (ICACL 2010) was published in 2010 as discussed by the authors, focusing on a number of recent developments in this area.
Abstract: The paper was prepared as the Australian National Report on Corporate Governance for the International Academy of Comparative Law, 18th International Congress of Comparative Law, which was held in Washington from July 25 - August 1, 2010. The paper provides an overview of the structure of corporate governance in Australia, focusing on a number of recent developments in this area. Many elements of Australian corporate law differ markedly from the U.S. system. Specific corporate governance issues, which are discussed in the paper in an Australian context include: the effect of financial scandals on corporate law reform; composition and structure of the board of directors, including recent developments concerning board diversity; directors’ duties and the operation of the antipodean version of the business judgment rule; trends in the structure and regulation of executive compensation; shareholder rights and minority shareholder protection; shareholder activism; takeover regulation; the continuous disclosure regime; and enforcement by regulator, the Australian Securities and Investments Commission (ASIC).
6 citations