Governance and Competitive Advantage

This paper uses a transactions economics theory of financial governance to reconcile and integrate the evidence on inter- and intra-country differences in corporate finance and corporate governance. We argue that one reason for the competitive advantage demonstrated by Japan in recent years is Japan...

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Bibliographic Details
Published in:Managerial finance 1994-08, Vol.20 (8), p.54-68
Main Authors: Johnson, Lewis D, Neave, Edwin H
Format: Article
Language:English
Subjects:
Comparative analysis
Competitive advantage
Corporate finance
Economic theory
Globalization
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Summary:This paper uses a transactions economics theory of financial governance to reconcile and integrate the evidence on inter- and intra-country differences in corporate finance and corporate governance. We argue that one reason for the competitive advantage demonstrated by Japan in recent years is Japan's greater use of high capability financial governance and its consequent reduction of risks that would otherwise be borne.
ISSN:0307-4358
1758-7743
DOI:10.1108/eb018486