Michel Goyer

in Contingent Capital

Published in print October 2011 | ISBN: 9780199578085
Published online January 2012 | e-ISBN: 9780191731051 | DOI:

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The argument presented in this book offers important insights for the study of international finance in the presence of intense capital mobility across borders as well for research methodology in social sciences. First, the heightened power of finance needs to be nuanced. Shareholder value-driven institutional investors do not constitute a monolithic bloc. Whether the expectations of institutional investors stand at odds with different varieties of capitalism requires an analytical juxtaposition of these differences that drive investment allocation with the process by which (potential) portfolio companies coordinate their activities. Second, methodological analyses of causal mechanisms in situations of complex causation are prone to the criticism that an assessment of the relative weight of different causal factors has not been attempted. The emphasis of the relative importance of institutional arrangements identified by the Varieties of Capitalism perspective in this chapter provides significant insights for methodological research.

Keywords: capital mobility; corporate governance; France; Germany; institutional theory; varieties of capitalism

Chapter.  5555 words. 

Subjects: Corporate Governance

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