Abstract
Multinational corporations (MNCs) dominate the global business arena, but traditional governance models do not map well on to these firms. Because a regulatory gap exists with MNCs, given that they do not operate within a clearly defined legal or political system, determining appropriate business conduct is even difficult for MNC boards aiming to do the right thing. However, very little research exists on how MNC governance and board practices translate between home country and various subsidiaries. Uniting political behavior theory and moral theories of global governance, we categorize four types of boards based on their legal, ethical and political orientations and then provide a framework for assessing the MNC board's propensity for reform.
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