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Globalization prompts boards to standardize
www.delawareonline.com In Germany, labor unions traditionally have had seats on corporate boards. At Japanese firms, dozens of loyal managers cap off careers with a stint in the boardroom. Founding families hold sway on Indian corporate boards. And in China, Communist Party officials are corporate board fixtures.
Just as different nations have developed their own languages, foods and local customs, they also have constructed their own forms of corporate governance and board structures. Now, as business continues to globalize, new pressure from international capital pools and government regulators may diminish the local and national flavor of corporate boards, according to Wharton faculty and other experts in corporate governance.
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