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What triggers firms to appoint outside directors beyond the legal minimum requirement?
South African Journal of Business Management ( IF 0.9 ) Pub Date : 2018-11-14 , DOI: 10.4102/sajbm.v49i1.319
Bum-Jin Park

Background: Although previous studies provide important insights on how firms respond to institutional pressure, they fail to acknowledge the salience of globalisation that results in institutional pressures diffusing across countries. Objectives: Drawing on a selective adaptation model, this article examines whether firms comply with reforms to board structures beyond the minimum legal requirement. Method: It investigates the determinants of appointing outside directors beyond the minimum legal requirement by analysing the relationship between four main variables and minimum compliance. Results: Using a sample of Korean listed firms during 2002–2014, this study found that the salient organisational conditions (firm complexity and firm performance) and key organisational actors (controlling shareholders and foreign investors) determine the extent to which firms appoint outside directors on their boards. Conclusion: This study contributes to the strategy literature that examines organisational response to institutional pressure, furthering the understanding of why there is heterogeneity in firm decisions even from firms in the same institutional environment that face similar institutional pressures. Moreover, it makes a contribution to corporate governance literature, in particular to the adoption of governance mechanisms that originate from foreign models.

中文翻译:

是什么促使公司任命超出法定最低要求的外部董事?

背景:尽管先前的研究提供了有关企业如何应对机构压力的重要见解,但他们未能承认全球化的显着性导致机构压力在各国之间扩散。目标:本文基于选择性适应模型,研究了企业是否遵守了对董事会结构的改革,超出了最低法律要求。方法:通过分析四个主要变量与最低合规性之间的关系,研究了超出最低法律要求任命外部董事的决定因素。结果:使用2002-2014年间韩国上市公司的样本,这项研究发现,显着的组织条件(企业的复杂性和公司绩效)和主要组织参与者(控股股东和外国投资者)决定了公司任命董事会外部董事的程度。结论:这项研究为研究组织对制度压力的反应的策略文献做出了贡献,从而进一步理解了为何即使在相同制度环境中面临相似制度压力的公司,公司决策中仍然存在异质性。此外,它为公司治理文献做出了贡献,特别是对采用源自国外模型的治理机制做出了贡献。这项研究为研究组织对制度压力的反应的战略文献做出了贡献,从而进一步理解了为什么即使在相同制度环境中面临相似制度压力的公司,公司决策中仍然存在异质性。此外,它为公司治理文献做出了贡献,特别是对采用源自国外模型的治理机制做出了贡献。这项研究为研究组织对制度压力的反应的战略文献做出了贡献,从而进一步理解了为什么即使在相同制度环境中面临相似制度压力的公司,公司决策中仍然存在异质性。此外,它为公司治理文献做出了贡献,特别是对采用源自国外模型的治理机制做出了贡献。
更新日期:2018-11-14
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