We examine the antecedents and consequences in developing countries of creating a national stock exchange, a core technology of financial globalization. We study local conditions and global institutional pressures in the rapid spread of exchanges since the 1980s and examine how conditions at the...

This article proposes a simple framework for understanding an emergent diversity of linkage between corporate governance (CG) and organizational architecture (OA). It distinguishes discreet modes of their linkage by different combinatorial patterns between three basic assets: managers' human...

This paper reviews several macro-level concepts describing institutional change in advanced capitalism: financialization, dualization and transnationalization. The review shows that these perspectives may complement one another, but also suffer from a common limitation — namely, the failure to...

This article examines the role of ambiguity in processes of institutional change. One challenge for understanding institutional change is to overcome the rather "oversocialized" view of action within Institutional theory. Drawing upon recent work in sociology, the paper introduces a...

A key theoretical and methodological issue for comparative scholars concerns the non-identical nature of actors across different institutional contexts. This paper reviews the relationship between actors and institutions within various strands of institutional theory, showing some emerging...