Footnote:
In: Bulletin for Business and Economics, 3(4), 166-175
Nach Informationen von SSRN wurde die ursprüngliche Fassung des Dokuments January 13, 2015 erstellt
Description:
Corporate Governance is relatively a new area and its development has been affected by various theories from different domains including law, economics, finance and management. This article gives a theoretical overview within the discipline of corporate governance and also provides a review of how the main theory i.e., the agency theory as well as other theories like the stewardship theory, stakeholder theory, resource dependency theory and transaction cost economics theory have influenced the development of corporate governance. The study highlights the differences among these theories and their span over different disciplines with divergent scopes, along with the arguments on how these theories differ in their relevancy to fit-in various contexts. The study emphasizes the need for the development of a general theory of corporate governance in conjunction with the legal system (common law or civil law) and other actors. It gives a new mode of thinking and a new direction of research in analyzing corporate governance