Killing two birds with one stone: Board reforms in the Japanese electronics industry

This paper combines insights from A Behavioral Theory of the Firm and Neo-Institutional Theory to provide a more comprehensive understanding of how new practices are adopted and transformed. The setting is the spread of the Executive Officer System (EOS) in the Japanese electronics industry. While this system, based on the Anglo-American system of governance, was designed to separate executive and monitoring, in reality, firms that reduced the...