Corporate Governance: Theories, Challenges and Paradigms

Abstract

This paper provides orientation in understanding the topic of corporate governance to further research, analysis and reform. Limitations in the theories and practices of the dominant Anglo paradigm are identified. Various viewpoints used in analysing corporate governance are described with their cultural specificities. To transcend and subsume other approaches and various institutional contexts, information and control theory is shown to provide a way of grounding corporate governance, theories of the firm, and the analysis of organisations in general in the science of cybernetics. Some research and reform opportunities are considered.

JEL Classification: G3, L2