When we talk about the “governance” of business organizations, we usually refer to responsibility and regulatory compliance, and answering the question: “how should an organization be directed, monitored, and held more accountable?” In this paper, we take recent developments in the car...

Lower barriers of entry for new firms and more flexibility in structuring a business organization are the two important factors motivating the introduction of the new company law. In general, policymakers use new company law initiatives to encourage entrepreneurship, innovation, and cooperative...

In this paper, we first shed light on the factors that underlie the differences between the ‘shareholder wealth maximization' and the ‘long-term commitment' models of corporate governance. By introducing a third type of governance model, we show that a three-dimensional approach provides a...