Overview
This section explores the historical development and theoretical frameworks of corporate governance. It traces the evolution of governance from early joint-stock companies to modern practices, highlighting key milestones such as the establishment of regulatory bodies and responses to corporate scandals. Theoretical frameworks, including agency, stewardship, stakeholder, and institutional theories, provide insights into the dynamics of governance, emphasizing the balance between shareholder interests and broader stakeholder considerations. Understanding these foundations is essential for management learners to effectively navigate corporate governance challenges.