The Performance of Corporate Governance Systems in an International Context: A Comparative Approach to Models of Capitalism
This paper questions, within a theoretical framework articulating contractual theories of governance and comparative institutional analysis, the much discussed hypothesis of the “Americanization” of corporate governance systems in an international context. Using a methodology adapted to the longitudinal nature of the societal data in the Vigéo - Eiris database (2004-2015), our article shows that the hypothesis of an alignment of governance systems with the neo liberal model is not sustainable. Instead, our results support the idea of a differentiated acceptance of corporate governance performance, attributable to institutional particularities and societal strategies aimed at preserving or developing the reputational capital of firms within their economic systems of membership.