As I was reading a paper by Zattoni et al. (2013) on corporate governance theories*, I came across a passage that explains the new shift to alternative or complementary theories with the aim to explore real-life governance issues. I quote: "to enhance our understanding of the effectiveness of governance mechanisms, scholars should gain access to process-oriented data, go beyond the almost exclusive use of agency theory, and overcome empirical dogmatisms and narrow conceptualizations of corporate governance"
What does process-oriented data exactly mean? And how is it different from data used in previous corporate governance research?
* Zattoni, A., Douglas, T., & Judge, W. (2013). Developing Corporate Governance Theory through Qualitative Research: Guest Editorial. Corporate Governance: An International Review, 21(2), 119–122. https://doi.org/10.1111/corg.12016