The adoption of corporate governance mechanisms: A test of competing diffusion models

The adoption of corporate governance mechanisms: A test of competing diffusion models

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Article ID: iaor19942165
Country: United States
Volume: 40
Issue: 4
Start Page Number: 496
End Page Number: 507
Publication Date: Apr 1994
Journal: Management Science
Authors: , ,
Keywords: management, measurement
Abstract:

The authors develop alternative diffusion models of two corporate governance mechanisms-joint venture and M-form organizational structure-using relevant concepts from the resource-based theory. Using data on joint venture adoption from one homogeneous industry (information technology) sector and employing both linear and nonlinear estimations, they test the explanatory power of the internal-influence model in comparison with a competing model of external-influence. The present empirical results support the internal-influence model in this sector with additional evidence for generalizability provided through a multisector sample of joint venture formation. In contrast, empirical results on the diffusion of M-form structure are more consistent with the external-influence model.

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