Corporate Governance Models

2 Corporate Governance Systems in Capitalist Countries

DOI: 10.4324/9781003225805-2

2.1 Corporate Governance Theories

Among the main theories that offer very broad visions of the relationships among strategy, ownership and governance as well as the operational context of organisation, we can identify several theoretical approaches that allowed the development of CG throughout the years.

2.1.1 Managerial Approach

The theory developed by Chandler (1962, 1977, 1992) laid the basis for the origin and development of large managerial enterprise¹ in different sectors and countries during the nineteenth and twentieth centuries. In particular, Chandler’s theory highlights a significant relationship between some context variables and the business ...