The financial crisis is a crisis of governance as well. In search of answers and solutions many scholars and practitioners recommend improved output control, i.e. better external incentives or even stricter regulations. Monasteries demonstrate that alternative models may be more suitable to enhance sustainable governance quality and to reduce agency problems. In the long history of monasteries, some abbots and monks were known to line their own pockets and some monasteries were undisciplined. Monasteries developed special systems to combat these excesses thus ensuring their survival over centuries. We study these features from an economic perspective. Derived from an analysis of the Benedictine monastery of Engelberg we offer three improvements of applied governance designed to reduce a...
Normativität und Governance: Gesellschaftstheoretische und philosophische Reflexionen der Governanceethik," by Josef Wieland, is reviewed.
There is much change happening within outpatient care in Germany. What will be the out-come of these changes? This article analyzes changes in the legal framework and policy impacts concerning the system of organized interests. Subsequently the manifold changes in German regions are analyzed to develop ideal-typical scenarios of the possible future of hierarchy, market, and cooperation in outpatient care governance. It is argued that minor reform compromises are about to lead to major changes of the subsystem.
Due to the importance of external suppliers for most companies, procurement and governance management is of utmost relevance for achieving competitive advantage. Research in the field of industrial buying behaviour (IBB) has largely been influenced by transaction cost economics (TCE). However, some TCE research has been rather simplistic; not distinguishing between governance structures and mechanisms, while research in IBB has a surplus of descriptive empirical studies and a critical shortage of analytical and conceptual constructs. This paper aims to address these shortcomings by integrating IBB and TCE in a conceptual model regarding procurement and governance of transactions. The model regards the analytical choice of a suitable combination of governance mechanisms (price, trust and...
..., which include corruption, absence of governance, and the uneven application of laws (e.g., Metters...
Against the background of globalization and the erosion of the power of the nation state, a debate in political science is currently taking place which focuses on the notion of global governance, and which considers whether a new framework of international regulation is likely to be established. To date, little importance has been attributed to global trade unions and transnational industrial relations in this debate. Conversely, it has hardly affected research on industrial relations and trade unions so far. This paper discusses the efforts of various subdisciplines to identify new international regulatory mechanisms and examines the possibilities for their integration under the umbrella of the governance concept. It is argued that trade unions, like other social actors, assume functio...
The rationale for the lively interest in corporate governance is the belief that there is a relationship between corporate governance and firm performance. A "good" governance system is supposed to have a positive impact on performance. This article provides a state-of-the-art review of empirical work on the link between corporate governance and firm performance. It finds that there are neither clearly positive nor negative effects that can be identified. In the discussion, various reasons for the inconsistent findings are evaluated. Besides methodological problems and inadequate theoretical foundations, the neglect of institutional complementarities, demographic factors and group decision processes are considered. In conclusion, the relevance of structural elements of corporate governa...
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