Journal Article

What connects industrial relations and corporate governance? Explaining institutional complementarity

Martin Höpner

in Socio-Economic Review

Published on behalf of Society for the Advancement of Socio-Economics

Volume 3, issue 2, pages 331-358
Published in print May 2005 | ISSN: 1475-1461
Published online May 2005 | e-ISSN: 1475-147X | DOI: http://dx.doi.org/10.1093/SER/mwi014
What connects industrial relations and corporate governance? Explaining institutional complementarity

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The concept of institutional complementarity is central to the recent debate on the internal logics of production regimes, redirecting our attention from the effects of single institutions to interaction effects. The article provides definitions of complementarity, coherence and compatibility and discusses the ways in which different authors describe interaction effects between corporate governance and industrial relations. It turns out that some of the interaction effects are actually direct causal links rather than effects deriving from complementarity. It is argued that complementarity may be caused by both structural similarity and incoherence, and that the concept provides only weak predictions with respect to institutional change. The article is followed by comments from Bruno Amable, Robert Boyer, Colin Crouch, Peter A. Hall, Gregory Jackson, Wolfgang Streeck, and an epilogue by Martin Höpner.

Keywords: Political economy; Varieties of capitalism; Industrial relations; Corporate Governance; Institutional complementarity; JEL classification: P5 Comparative economic systems; J5 Labour–management relations

Journal Article.  0 words. 

Subjects: Moral Philosophy ; Corporate Social Responsibility ; Welfare Economics ; Political Economy ; Economic Sociology

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