The Views of the Managers in the International Organisations Regarding Research Paper

The Views of the Managers in the International Organisations Regarding Global Convergence - Research Paper Example According to some academics, globalization can lead to a single model, which closely resembles with that of American Corporate Governance Model as they believe that it is the most successful model. Some of the people in spite of supporting convergence thesis do not agree that it has to be a copy of Anglo-American convergence model. According to them, a hybrid system can emerge on the basis of the best features of the prime governance models and also supports the hybrid stream of thinking of the Standard School. But, according to the Diversity School academics, global convergence will not happen. According to them, cultural diversity and the difference in legal as well as economic systems along with the variant aspirations and goals prevalent in the society will not lead to global convergence. Mainstream governance thinking is highly influenced by geographical boundaries. It is practically impossible to find two countries with identical characteristics of corporate governance; actuall y, each country is characterised by its unique governance model. The corporate Governance model is referred to as the specific structures and processes, which are embodied in a country’s institutional, legal and cultural context. Attention towards corporate governance has mainly grown out of shareholder activism of the institutional shareholders in the Anglo-American context. Under the pressure of shareholder activism, the listed firms along with the stock exchange authorities realised the need for good corporate governance.