Ruth Aguilera

Toward an updated corporate governance framework: Fundamentals, disruptions, and future research

BRQ Business Research Quarterly · 2025-02-24 · 32 citations

This essay explores the evolving landscape of corporate governance amid global disruptions and changing stakeholder demands. We argue that traditional governance models are unable to effectively address contemporary challenges such as technological advancements, sustainability pressures, and geopolitical conflicts. While corporate governance has traditionally prioritized financial metrics and majority shareholders, there is a growing shift toward incorporating broader societal and environmental…

The Corporate Governance of Environmental Sustainability: A Review and Proposal for More Integrated Research

SSRN Electronic Journal · 2021 · 30 citations

Corporate governance deviance

Edward Elgar Publishing eBooks · 2024-10-18 · 29 citations

We develop the concept of corporate governance deviance and seek to understand why, when, and how a firm adopts governance practices that do not conform to the dominant governance logic. Drawing on institutional theory, coupled with the entrepreneurship and corporate governance literatures, we advance a middle range theory of the antecedents of corporate governance deviance that considers both the institutional context and firm-level agency. Specifically, we highlight the centrality of a firm’s…

Nationalist sentiments and the multinational enterprise: insights from organizational sociology

Journal of International Business Studies · 2024-06-21 · 26 citations

Abstract International business scholars have recognized the impact of political and economic nationalism on the multinational enterprise (MNE). We complement these approaches by highlighting the sociological manifestations of nationalism and their implications for the MNE. We argue that nationalist sentiments , i.e., widely shared assumptions of superiority over other nations and cultures, constitute an under-researched but critical element in international business (IB). Drawing insights from…

The Systemic Governance Influence of Expectation Documents: Evidence from a Universal Owner

The Review of Corporate Finance Studies · 2024-04-17 · 9 citations

Abstract We examine expectation documents’ effectiveness as an activism tool. We use the Norwegian sovereign wealth fund’s release of a corporate governance expectation document as a natural experiment. We introduce a novel, three-way analytical decomposition of the firms, the fund, and their joint response to this document. Firms’ governance practices adapt to the fund’s new portfolio-wide governance preferences, with heterogeneous responses across ownership and firm characteristics. The fund’s…