TY - JOUR
T1 - Corporations at a crossroads
T2 - How multilevel governance interactions shape participation and effort in private governance regimes
AU - Hsueh, Lily
N1 - Publisher Copyright:
© 2019 Wiley Periodicals, Inc.
PY - 2019/10/1
Y1 - 2019/10/1
N2 - This article argues that the interactions between firm agency in corporate management and the multilevel governance structures in which firms operate condition firms' participation and effort in private governance regimes. Empirically, I examine the Fortune Global 500 firms' decisions about participation and the extent of participation in the Carbon Disclosure Project during 2011–2015. Given firms' strategic considerations, the efficacy of corporate management structures and practices is conditioned by domestic regulatory and global regime contexts, and this efficacy varies across developed and developing countries. In developed countries, corporate, domestic, and global governance positively reinforce each other as drivers of private regulation on climate change. These governance levels are complements not substitutes. By contrast, the main drivers of participation and effort in developing countries are corporate management structures and practices, the stringency of domestic regulatory institutions, and their interactions. This article's results are robust to alternative specifications, including an alternative modeling approach.
AB - This article argues that the interactions between firm agency in corporate management and the multilevel governance structures in which firms operate condition firms' participation and effort in private governance regimes. Empirically, I examine the Fortune Global 500 firms' decisions about participation and the extent of participation in the Carbon Disclosure Project during 2011–2015. Given firms' strategic considerations, the efficacy of corporate management structures and practices is conditioned by domestic regulatory and global regime contexts, and this efficacy varies across developed and developing countries. In developed countries, corporate, domestic, and global governance positively reinforce each other as drivers of private regulation on climate change. These governance levels are complements not substitutes. By contrast, the main drivers of participation and effort in developing countries are corporate management structures and practices, the stringency of domestic regulatory institutions, and their interactions. This article's results are robust to alternative specifications, including an alternative modeling approach.
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U2 - 10.1111/gove.12406
DO - 10.1111/gove.12406
M3 - Article
AN - SCOPUS:85063896206
SN - 0952-1895
VL - 32
SP - 715
EP - 760
JO - Governance
JF - Governance
IS - 4
ER -