Title

Institutional change versus resilience: A study of an incorporation of independent directors in Singapore banks

Publication Type

Journal Article

Publication Date

4-2015

Abstract

We examine how Anglo-American capital market logic penetrated into Singapore where relational logic tends to guide business activities and illustrate how domestic banks reacted to this imported logic in the corporate governance field. We argue that the banks’ ability to accommodate competing logics was enhanced by state agencies’ willingness to modify Anglo-American standards to fit the local context. Given the resulting institutional ambiguities in rules, local banks, while incorporating higher outside representation on their boards, reinterpreted the meaning of independence and emphasized the resource provision role rather than the monitoring function of outside directors. The resultant institutional change has been gradual.

Keywords

institutionalism, institutional change, institutional conversion, corporate governance, board of directors, qualitative study

Discipline

Asian Studies | Finance and Financial Management | Organizational Behavior and Theory | Strategic Management Policy

Research Areas

Strategy and Organisation

Publication

Asian Business and Management

Volume

14

Issue

2

First Page

91

Last Page

115

ISSN

1472-4782

Identifier

10.1057/abm.2015.1

Publisher

Palgave Macmillan

Additional URL

http://doi.org/10.1057/abm.2015.1