Resource Dependence Theory (RDT) (Pfeffer & Salancik, 1978) aims to explain, why organizations differ in their behavior and structures. A core element of organizational structure is Corporate Governance (CG): the system by which corporations are directed and controlled. It covers the distribution of rights and responsibilities among different stakeholders. Most important are decision-making rights, in particular for setting the goals of the corporation and the means of attaining those goals (OECD, 2015).¹

RDT is a political theory of organizations. Business corporations are understood as coalitions of groups and individuals, characterized by bounded rationality (Simon, 1957), with different, often conflicting interests and ideas about goals and means. The actors use their power to enforce their interests. The power of an actor depends on the extent to which it controls critical resources – resources that are important for the survival of the corporation and that cannot be procured from other sources … Mehr lesen...