Meanings of ownership of the firm

The notion of 'ownership of the firm' is central to conventional treatments of corporate governance, yet there is very little discussion about what this means in practice. In this paper we briefly draw attention to some of the debates around the notion of ownership in various disciplinary fields, and then recount and discuss some of the meanings associated with ownership of the firm that we have found in two empirical studies carried out in the UK and Japan. Our aim is to illuminate and disturb some of the commonly taken for granted notions of what it means to 'own' a firm.corporate governance, ownership

Theorizing Corporate Governance: New Organizational Alternatives

This paper contrasts 'economic' and 'organizational' approaches to corporate governance, in order to draw out some of their distinctive features and discuss their relative strengths and weaknesses. Some promising areas of new research are identified which examine the role of social controls and trust for the way that companies are governed. Although these are fairly embryonic, it is argued that they call into question the hegemony of economic theories in theorizing the governance of the corporation. The paper concludes by advocating a re-consideration and broadening of the current conceptual scope of corporate governance, so as to facilitate and encourage other potentially valuable ways of exploring and understanding how companies are governed.Corporate Governance, Social Controls

Theorizing Corporate Governance: Organizational Alternatives

In this paper I contrast ‘economic’ and ‘organizational’ approaches to corporate governance, in order to draw out some of their distinctive features and discuss their relative strengths and weaknesses. I identify some promising areas of new research that examine the role of social controls and trust for the way that companies are governed. Although these are fairly embryonic, I argue that they call into question the hegemony of economic theories in theorizing the governance of the corporation. I conclude by advocating a re-consideration and broadening of the current conceptual scope of corporate governance, so as to facilitate and encourage other potentially valuable ways of exploring and understanding how companies are governed. </jats:p