The History of Corporate Governance
OXFORD HANDBOOK OF CORPORATE GOVERNANCE, Mike Wright, Donald Siegel, Kevin Keasey and Igor Filatotchev, eds., Oxford University Press, 2013
38 Pages Posted: 22 Dec 2011 Last revised: 20 May 2013
Date Written: December 1, 2011
“Corporate governance” first came into vogue in the 1970s in the United States. Within 25 years corporate governance had become the subject of debate worldwide by academics, regulators, executives and investors. This paper traces developments occurring between the mid-1970s and the end of the 1990s, by which point “corporate governance” was well-entrenched as academic and regulatory shorthand. The paper concludes by surveying briefly recent developments and by maintaining that analysis of the inter-relationship between directors, executives and shareholders of publicly traded companies is likely to be conducted through the conceptual prism of corporate governance for the foreseeable future.
Keywords: corporate governance, board of directors, shareholder activism, agency costs
JEL Classification: G30, G38, K22, N21
Suggested Citation: Suggested Citation