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Heterogeneity among corporate governance practices in emerging economies presents new challenges to researchers and business practitioners. Prior research in international business and comparative corporate governance has considered this practice heterogeneity in emerging markets as an outcome of institutional voids or deficiencies to be addressed. In contrast, we propose viewing the variety of governance practices as the outcome of an innovation process that aims to better align the prototypical best practices and the idiosyncratic institutional or industry contexts. We argue that companies in emerging countries innovate their governance practices by combining different elements of external and internal governance systems using local embeddedness and global agency. Our examples of governance innovations in the emerging markets of China and Korea illustrate that this focus on embeddedness and agency offers insights into the salience and applicability of different types of governance innovations, from decoupling of local practices from global rules to experimentations with governance practices by change agents. [ABSTRACT FROM AUTHOR]

Wealth inequality is among the most extreme forms of stratification in the United States, and upward wealth mobility is not common. Yet mobility is possible, and this paper takes advantage of trends among a unique group to explore the processes that generate mobility. I show that non-Hispanic whites raised in Roman Catholic families have been upwardly mobile in the wealth distribution in recent decades, and I find that unique fertility, marriage and education patterns contributed to this change. I also show that Catholic values related to work and money contributed to relatively high saving and portfolio behavior that facilitated mobility. The results provide important insight into the process by which childhood experiences shape adult well-being, particularly adult wealth ownership. The findings also contribute to understanding of social inequality by identifying important behaviors and processes that facilitate mobility. (Contains 6 tables and 28 notes.)

Nonprofit organizations are important actors in local communities, providing services to vulnerable populations and acting as stewards for charitable contributions from other members of the population. An important question is whether nonprofits spend or receive additional revenues in response to changes in the populations they serve. Because immigrant populations both receive and contribute to nonprofit resources, changes in immigrant numbers should be reflected in changing financial behavior of local nonprofits. Using data from the National Center for Charitable Statistics and the American Community Survey, we study whether nonprofit financial transactions change in response to changes in the local immigration population, the nature of the change, and the degree to which these changes vary by nonprofit type. Findings suggest that nonprofit financial behavior changes with growth and decline in immigrant populations underscoring the importance of nonprofits as service providers and contribute to an understanding of how organizations respond to external forces. [ABSTRACT FROM AUTHOR]