The two invited discussants made a great job and they added a considerable and significant value to the five presented papers. Wei Shen (University of Florida) and Costas Markides (London Business School) offered two different, but complemented, perspectives on how the presented studies can be analyzed and further results can be drawn. Wei Shen looked at the corporate governance perspective, focusing on how ownership structure, corporate governance and strategic decisions are striclty interconnected. He analzyed also the impacts of the international contexts and of the globalization on ownership, governance and strategy. Costas Markides stressed more the importance of the strategy and on how changes in the competitive environment may enhance or riduce the importance of the governance mechanisms. He said that the presented papers identify some new (and creative) themes that the literature ought to explore further.
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