Corporate governance : a survey

The recognition of the profound impact of corporations on the economies and societies of all countries of the world has focused attention on the growing importance of corporate governance. There is an ongoing diversity of corporate governance systems, based on historical cultural and institutional differences that involve different approaches to the values and objectives of business activity. Sound corporate governance is universally recognised as essential to market integrity and efficiency, providing a vital underpinning for financial stability and economic growth. As the adequacy of the existing dominant paradigms of corporate governance are increasingly challenged, the search for coherent new paradigms is a vital task for corporate governance in the future.