Institutional change versus resilience: A study of an incorporation of independent directors in Singapore banks
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.
institutionalism, institutional change, institutional conversion, corporate governance, board of directors, qualitative study
Asian Studies | Finance and Financial Management | Organizational Behavior and Theory | Strategic Management Policy
Strategy and Organisation
Asian Business and Management
Tsui-Auch, Lai Si and YOSHIKAWA, Toru.
Institutional change versus resilience: A study of an incorporation of independent directors in Singapore banks. (2015). Asian Business and Management. 14, (2), 91-115. Research Collection Lee Kong Chian School Of Business.
Available at: http://ink.library.smu.edu.sg/lkcsb_research/4346