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"It’s not as simple as saying, ’Oh, we’re going to change corporate governance so that we all have the same rules.’ The system of corporate governance interacts with many other things in an economy, such as the way labor laws are regulated, tax laws and bankruptcy legislation. If you change one component without changing the others, you’re essentially causing trouble." fitovers His paper suggests that globalization is more about leveraging differences in an increasingly borderless world. Guillen’s study, initiated more than two fitovers years ago, takes a macro approach fitovers to analyzing corporate governance worldwide. He analyzed six so-called empirical indicators to draw conclusions about global corporate governance in individual countries. These include the stock of foreign direct investment by firms under the influence of various corporate governance systems in their home countries, the presence of institutional investors in each country, the proportion of listed corporate equity held by different types of shareholders, the balance between debt and equity financing struck by non-financial
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