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1、NewDirectionsinCorporateGovernanceAuthor(s):GeraldF.DavisSource:AnnualReviewofSociology,Vol.31(2005),pp.143-162Publishedby:AnnualReviewsStableURL:http://www.jstor.org/stable/29737715.Accessed:12/12/201323:39YouruseoftheJSTORarchiveindicatesyouracceptanc
2、eoftheTerms&ConditionsofUse,availableat.http://www.jstor.org/page/info/about/policies/terms.jsp.JSTORisanot-for-profitservicethathelpsscholars,researchers,andstudentsdiscover,use,andbuilduponawiderangeofcontentinatrusteddigitalarchive.Weuseinformationte
3、chnologyandtoolstoincreaseproductivityandfacilitatenewformsofscholarship.FormoreinformationaboutJSTOR,pleasecontactsupport@jstor.org..AnnualReviewsiscollaboratingwithJSTORtodigitize,preserveandextendaccesstoAnnualReviewofSociology.http://www.jstor.orgTh
4、iscontentdownloadedfrom113.108.133.58onThu,12Dec201323:39:24PMAllusesubjecttoJSTORTermsandConditionsAnnu.Rev.Sociol.2005.31:143-62doi:10.1146/annurev.soc.31.041304.122249Copyright?2005byAnnualReviews.AllrightsreservedFirstpublishedonlineasaReviewinAdvan
5、ceonMarch11,2005NewDirectionsinCorporateGovernanceGeraldF.DavisUniversityofMichiganBusinessSchool,AnnArbor,Michigan48109-1234;email:gfdavis@umich.eduKeyWordsfinancialmarkets,institutionalanalysis,organizationtheory,agencytheory?AbstractCorporategovernan
6、cedescribesthestructures,processes,andinstitu?tionswithinandaroundorganizationsthatallocatepowerandresourcecontrolamongparticipants.Lawandeconomicsscholarshavedevelopedaviewofthepubliccorpora?tionasanexus-of-contractswhosestructureisdrivenbytherequireme
7、ntsoffinancialaretheo?markets,andthusfeaturesofthecorporationanditssurroundinginstitutionsrizedintermsoftheirfunctionindirectingcorporationstowardsharepriceasacriterionofvalue.fromthisbase,morerecentresearchhasstudiedhistoricalandcrossWorkingnationalvar
8、iationingovernanceinstitutions,producinghighlyvariedinterpretationsoftheirsourcesandfunction.Sociologicalwork,particularlywithinorganizationtheory,hascritiquedthisfunctionalistviewandprovidedalternativeinterpretationsbasedonnetwo