Corporate Governance – State Of The Art And New Research Trends

Corporate governance is a relatively recent field of economic research. Interest in this field has been spurred by the high number of corporate scandals at the turn of the 21st century (Enron, Tyco, Adelphia, WorldCom, etc.). They opened the eyes of the public all over the world to the abuses that companies can do when they are not under strict surveillance. Traditional studies have focused on formal and structural aspects of governance, seen from the perspective of accounting, finance, corpo-rate law. This article attempts to provide an overview of the topics of interest in corporate governance research of future research directions.