ABSTRACT
This chapter traces the links from the evolution of primary institutions to comparative corporate governance institutions that is termed as 'meso-institutions'. It develops the argument that there is a connection between a country's primary institutions and the varieties of capitalism framework that was developed by Hall and Soskice and that has been extended since. The chapter argues that this connection rests on the development and protection of different types of property rights between the two main types of variety of capitalism: property rights in tradable assets in liberal market economies (LMEs) and property rights in non-tradable, strategic assets in coordinated market economies (CMEs). To arrive at this connection, there are three main planks of the argument developed in the chapter. The first plank is about different organizational forms. The second plank is linked to these organizational forms. The third plank focuses on coalitions between different groupings: shareholders, managers, employees, and the state.
