THE EMERGENCE AND DEVELOPMENT OF CORPORATE GOVERNANCE AS AN ECONOMIC AND INSTITUTIONAL PHENOMENON

Ilona Bazantova

Economy & Business Journal, 2015, vol. 9, issue 1, 167-178

Abstract: The article analyses how has been corporate governance formed – it shows a view of history of economic thought on this problem. It describes Adam Smith’s opinions on corporations, the Agency Theory and the Principal-Agent Theory. Then, the article provides interpretation of OECD´s definition of corporate governance, it presents the dualistic (two-tier) model and the monistic (one-tier) model and the current institutional concept of corporate governance in the Czech Republic.

Keywords: corporate governance; principal-agent theory; oecd; czech laws (search for similar items in EconPapers)
JEL-codes: A (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:isp:journl:v:9:y:2015:i:1:p:167-178

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