Origin, Evolution, and Key Traits of Corporate Governance: An Overview

This chapter examines the historical development and theoretical underpinnings of corporate governance. It outlines four stages in the evolution of corporate governance. The chapter also discusses different perspectives on corporate governance, including the roles of managers, shareholders, firms, and stakeholders. It concludes with an examination of ideal-type models, such as managerial hegemony, family firms, and sustainable firms, emphasizing the distinction between formal and substantive power in decision-making.