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date: 26 May 2019

Abstract and Keywords

The focus of many corporate governance inquiries might be specific to particular subfields – determinants of ownership structures, legal protection of minority shareholders, impact of the market for corporate control, and many others – but questions and insights about the role of institutions are present across disciplinary boundaries. This article is structured around the three most prominent theoretical perspectives in the analysis of comparative corporate governance: law and economics, sociology, and politics. It proceeds to review their contributions to the analysis of diversity in both institutional arrangements and outcomes across national systems of corporate governance. These approaches are also characterized by substantial internal diversity on the role of institutions – thereby increasing the analytical variety of inquiries. The article concludes with a section that deals with the place of economic incentives and rationality in the joint interaction between institutions and interests for these three theoretical perspectives.

Keywords: corporate governance, shareholders, law and economics, sociology, politics

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