The Embedded Firm

Corporate Governance, Labor, and Finance Capitalism

Cynthia A. Williams, Peer Zumbansen

• Publisher: Cambridge University Press
• Year: 2011
• Print ISBN: 9781107006010
• eBook ISBN: 9781139098311
• Topic: Business
• Subtopic: Management
• Index: Business

The globalization of capital markets since the 1980s has been accompanied by a vigorous debate over the convergence of corporate governance standards around the world towards the shareholder model. But even before the financial and economic crisis of 2008/2009, the dominance of the shareholder model was challenged with regard to persisting divergences and national differences in corporate law, labor law and industrial relations. This collection explores this debate at an important crossroads, echoing Karl Polanyi's famous observation in 1944 of the disembeddedness of the market from society. Drawing on pertinent insights from scholars, practitioners and regulators in corporate and labor law, securities regulation as well as economic sociology and management theory, the contributions shed important light on the empirical effects on the economy of the shift to shareholder primacy, in light of a comprehensive reconsideration of the global context, policy goals and regulatory forms which characterize market governance today.

Table of contents

• Cover
• The Embedded Firm
• Title
• Copyright
• Contents
• Figures
• Tables
• Contributors
• 1 Introduction: corporate governance after the ‘end of history’: investigating the new ‘great transformation’
• Part I Historical trajectories of business and regulation
• Part II New interests, new shareholder constellations, new landscapes
• Part III Labor’s evolution in the new economy
• Part IV The transnational embedded firm and the financial crisis
• Part V Conclusion
• Index