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Published online by Cambridge University Press: 23 May 2024
This chapter looks at the rise of the intellectual field that makes up modern corporate governance. It enumerates the most important conclusions that fell out of the ways corporate governance came to be understood: (1) “good governance” is a function of the adoption of certain practices or structures, not the achievement of operational outcomes; (2) governance “best practices” can be identified and applied across heterogenous firms; and (3) the imposition of governance practices from outside the firm is superior to the governance arrangements generated by the various markets in which the corporation and its constituencies participate. Canada is gently mocked.
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