Corporate Governance: Principles and Issues, Chapter 1

Abstract

This paper is the first chapter of a book published by Sage Publications examining the principles considered in contesting theories of the field, and then the issues facing boards of directors in dealing with matters within the board, between boards and owners, between different types of owners, and then with the wider public. Taking a global outlook, the book also explores the role and limitations of transparency as a method of accountability before returning to the many unresolved questions in a field with an unsettled and perhaps unsettling future. This first chapter sets the stage with discussion of Lehman Brothers and aspects of the financial crisis of 2007-09, the echoes of previous lapses in various countries around the world, and the policy responses to them that left corporate governance with more questions than answers.

Keywords: Corporate governance, principles, issues, boards of directors

JEL Classification: A10, G10, G34, L10, L20, B10, B14