Corporate governance plays a fundamental role in any economy, but does it play the same role, asks Wharton management professor Mauro Guillen in a research paper entitled “Corporate Governance and Globalization: Is There Convergence Across Countries?” The answer, Guillen concludes, is no. Despite increasing globalization, separate economies go about corporate governance in different ways, ranging from the Anglo-Saxon shareholder-centered model found in the U.S. and the U.K., to the hybrid shareholder/stakeholder models typically found in Japan and Germany.…Read More