Abstract / Description of output
Samsung Group’s corporate governance has been controversial, despite its leading role in the international market. As the group faces an ownership succession issue, Samsung’s corporate governance has become as important as their new products and services. While Samsung has been criticized by the public and shareholders for its corporate governance structure, the largest Swedish business group, the Wallenberg group, has earned praise for its transparent corporate governance system. Samsung has been investigating the Wallenberg group’s corporate governance structure and corporate social responsibility practices since 2003. And since then, media and academics have been interested in looking at similarities and differences of both groups’ corporate governance systems. However, Samsung made no observable change to its corporate governance until a recent announcement of corporate governance reform. This announcement, which hinted at a potential change of Samsung’s no-union policy and family control structure, appears to echo Wallenberg’s corporate governance system; a system that cares about labor participation and socially responsible corporate citizenship. Hence, this paper compares both groups’ corporate governance systems and analyses how Sweden and Korea’s national institutional environments have engaged with both groups’ corporate governance systems. Borrowing from actor-centered comparative institutionalism, we highlight the important role of actors embedded in national institutional environments in shaping the groups’ corporate governance and argue that Samsung will not follow in Wallenberg group’s footsteps due to institutional constraints and management inertia.
Original language | English |
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Title of host publication | Academy of Management Annual Meeting Proceedings 2023 |
Publisher | Academy of Management |
DOIs | |
Publication status | Published - 1 Aug 2023 |
Event | Academy of Management Annual meeting - Boston, Boston, United States Duration: 4 Aug 2023 → 8 Aug 2023 Conference number: 83 https://aom.org/events/annual-meeting |
Publication series
Name | Academy of Management Proceedings |
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Publisher | Academy of Management |
Number | 1 |
Volume | 2023 |
ISSN (Print) | 0065-0668 |
ISSN (Electronic) | 2151-6561 |
Conference
Conference | Academy of Management Annual meeting |
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Abbreviated title | AoM |
Country/Territory | United States |
City | Boston |
Period | 4/08/23 → 8/08/23 |
Internet address |
Keywords / Materials (for Non-textual outputs)
- AOM Annual Meeting Proceedings 2023
- AOM Boston 2023
- management history
- corporate governance
- comparative institutionalism
- Chaebol
- family conglomerates
- Samsung
- Wallenberg