On the (Political) Origin of ‘Corporate Governance’ Species

Journal of Economic Surveys, 31(2):393-409, 2016

25 Pages Posted: 17 Mar 2016 Last revised: 8 Aug 2017

See all articles by Massimiliano Vatiero

Massimiliano Vatiero

Università della Svizzera italiana; University of Trento

Date Written: October 16, 2015

Abstract

Although economies, business practices, and living standards have converged since WWII, corporate structures continue to differ among the advanced economies of the world. Looking at the diversity of corporate structures of large-sized firms around the world (and over time) would fascinate Charles Darwin. This work develops a critical review of the literature on political determinants of corporate governance through the Darwinian theory (including some Lamarckian aspects). As Darwin, in his work On the Origin of Species, explicates the diversity of species of tortoises, finches, and iguanas of the Galapagos Islands, so Darwinism may contribute in understanding the origin and the persistence of corporate diversity. In particular, this article takes into account politics-driven variations, their inheritances, and the subsequent selection of advantageous ‘corporate’ attributes.

Keywords: Corporate governance, Darwin, politics, path-dependency

JEL Classification: G30, K22, J50

Suggested Citation

Vatiero, Massimiliano, On the (Political) Origin of ‘Corporate Governance’ Species (October 16, 2015). Journal of Economic Surveys, 31(2):393-409, 2016. Available at SSRN: https://ssrn.com/abstract=2748494 or http://dx.doi.org/10.2139/ssrn.2748494

Massimiliano Vatiero (Contact Author)

Università della Svizzera italiana ( email )

Via Giuseppe Buffi 13
Lugano, Ticino 6900
Switzerland

University of Trento ( email )

Via Giuseppe Verdi 26
Trento, Trento 38152
Italy

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