Corporation and its institutional environment from economic-institutional and economic-political perspective
DOI:
https://doi.org/10.26485/SPE/2022/123/8Keywords:
corporate governance, new institutional theory of firm, Varieties of Capitalism, theories of structural dependence, institutional political economyAbstract
Backgrounds: The subject is a phenomenon of coordinating economic activities within corporate framework. The paper sets off from a following observation: Corporate governance theories as a rule are inside-looking, which also means they consider mainly the impact of environment on corporation while practice says corporation is not always willing to surrender to its regulatory environment.
Research purpose: The paper points to these theoretical explanations of the coordination it considers, which develop perspective broader than corporate governance theories. The central questions are: How economic-political approach adds to corporate governance theories? How this approach contributes to our understanding of corporation’s impact on social environment?
Methods: This review draws from analytical toolbox of selected economic-political and economic-institutional theories which are: institutional theory of firm, Varieties of Capitalism school and theories of structural dependence. The line of this analysis builds an intellectual bridge between corporate governance theories and institutional political economy.
Conclusions: The economic-political approach provides arguments on behalf of the supposition that corporation is able to change its institutional environment. The impact of coordinating economic activities within corporate framework must be not constrained to impact on competitors and employees of corporation alone. Apart of striving for economic performance, corporations are able to influence economic performance once they are able to produce structural power in their social environment which is broader than population of their competitors
Downloads
References
Adamska A., Mesjasz C., Urbanek P., Teorie ładu korporacyjnego, władanie i kontrola w złożonym świecie, Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2016.
Berle A.A., Means G.C., The Modern Corporation and Private Property, Harcourt, Brace & World, New York 1968 (1932).
Block F., Ruling Class Does Not Rule, w: Revising State Theory. Essays in Politics and Postindustrialism, Temple University Press, Philadelphia 1987, s. 51–69.
Conner K.R., Prahalad C.K., A Resource-Based Theory of the Firm: Knowledge versus Opportunism, Organization Science 1996/7 (5), s. 477–501.
Cyert R.M., March J.G., A Behavioural Theory of the Firm, Prentice-Hal, Englewood Cliff 1963.
Downes J., Goodman J.E. (eds.), Dictionary of Finance and Investment Terms, 3rd edition, Baron’s, New York 1991.
Drucker P., The Practice of Management, Routledge, London 2012 (1954).
Dunning J.H., Lundam M.L., Multinational Enterprises and the Global Economy, 2nd edition, Edward Elgar Publishing Ltd., Cheltenham, Northhampton 2008.
Eckhardt A., Polityka gospodarcza – od hegemonii do konkurencji władzy, w: U. Kalina-Prasznic (red.), Regulowana gospodarka rynkowa. Wybór materiałów do studiowania polityki gospodarczej, Oficyna Ekonomiczna, Kraków 2003, s. 293–308.
Federowicz M., Różnorodność kapitalizmu: instytucjonalizm i doświadczenie zmiany ustrojowej po komunizmie, Wydawnictwo Instytutu Filozofii i Socjologii PAN, Warszawa 2004.
Galbraith J.K., Gospodarka niewinnego oszustwa (The Economics of Innocent Freud), MT Biznes, Warszawa 2005.
Galbraith J.K., The New Industrial State, H. Miffin, Boston 1967.
Gill S.R., Law D., Global Hegemony and the Structural Power of Capital, International Studies Quarterly 1989/33/4, s. 475–499.
Gourevitch P.A, Shinn J.J., Political Power and Corporate Control. The New Global Politics of Corporate Governance, Princeton University Press, Princeton, Oxford 2007.
Hall P.A., Soskice D. (eds.), Varieties of Capitalism: The Institutional Foundations of Comparative Advantage, Oxford University Press, Oxford 2001.
Hall P.A., Thelen K., Institutional change in varieties of capitalism, Socio-Economic Review 2009/7, s. 7–34, https://doi.org/10.1093/ser/mwn020
Hart O.D., Moore J., Property Rights and the Nature of the Firm, Journal of Political Economy 1990/98 (6), s. 1119–1158.
Jackson G., Deeg R., How Many Varieties of Capitalism? Comparing the Comparative Institutional Analyses of Capitalist Diversity, MPIfG Discussion Paper, No 06/2, Max-Planck-Institut für Gesellschaftsforschung, Köln 2006.
Kassner M., Czy socjaliści muszą przegrać? Rozważania na marginesie teorii strukturalnej zależności państwa do kapitału, w: M. Tobiasz, J. Ziółkowski (red.), Spory o kapitalizm. Krytyczne przewartościowania, w druku nakładem wydawnictwa Książka i Prasa, 2022.
Lindblom Ch., Politics and Markets. The World Political-Economic Systems, Basic Books, New York 1977.
North D.C., Institutions, Institutional Change and Economic Performance, Cambridge University Press, New York 1990.
Poggi G., Forms of Power, Polity Press, Cambridge 2001.
Rosińska-Bukowska M., Rozwój globalnych sieci biznesowych jako strategia konkurencyjna korporacji transnarodowych. Przypadek sektora motoryzacyjnego, Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2012.
Swenson, P., Capitalists Against Markets, Oxford University Press, New York 2002.
Urbanek P., Ład akademicki w uniwersytecie korporacyjnym. Teorie, instytucje, efektywność, Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2020.
Urbanek P. (red.), Nadzór korporacyjny w warunkach kryzysu gospodarczego, Wydawnictwo Uniwersytetu Łódzkiego, Łódź 2010.
Wawrzyniak B. (red.), Polskie grupy kapitałowe. Perspektywa europejska, Wydawnictwo Wyższej Szkoły Przedsiębiorczości i Zarządzania im. Leona Koźmińskiego, Warszawa 2002.
Whitley R., Divergent Capitalisms: The Social Structuring and Change of Business Systems, Oxford University Press, Oxford 1999.
Williamson O.E., The economics of governance, American Economic Review 2005/95 (2), s. 1–18.
Williamson O.E., Markets and Hierarchies: Analysis and Antitrust Implications, Free Press, New York 1975.
Williamson O.E., Markets and Hierarchies: Some Elementary Considerations, The American Economic Review 1973/63 (2), s. 316–325.
Williamson O.E., The Mechanisms of Governance, Oxford University Press, Oxford 1996.
Williamson O.E., Wścibskość popłaca, rozmowa, Gazeta Wyborcza, 21.02.2011 r.
Williamson O.E., Winter S.G., The Nature of the Firm: Origins, Evolution, and Development. Paperback, Oxford University Press, New York 1993.
Ząbkowicz A., Instytucje: między mechanizmem rynkowym i mechanizmami władzy, Ekonomista 2019/2, s. 145–162.
