The Adoption of Corporate Governance Mechanisms: A Test of Competing Diffusion Models

We develop alternative diffusion models of two corporate governance mechanisms—joint venture and M-form organizational structure—using relevant concepts from the resource-based theory. Using data on joint venture adoption from one homogeneous industry (information technology) sector and employing both linear and nonlinear estimations, we test the explanatory power of the internal-influence model in comparison with a competing model of external-influence. Our empirical results support the internal-influence model in this sector with additional evidence for generalizability provided through a multisector sample of joint venture formation. In contrast, empirical results on the diffusion of M-form structure are more consistent with the external-influence model.

• 저널Management Science · 40(4) · 496–507
• 토픽Innovation Diffusion and Forecasting · Management Science and Operations Research
• DOI10.1287/mnsc.40.4.496
• 저자N. Venkatraman, Lawrence Loh, Jeongsuk Koh