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The Emergence And Development Of Corporate Governance As An Economic And Institutional Phenomenon

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  • Ilona Bažantová

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.

Suggested Citation

  • Ilona Bažantová, 2015. "The Emergence And Development Of Corporate Governance As An Economic And Institutional Phenomenon," Economy & Business Journal, International Scientific Publications, Bulgaria, vol. 9(1), pages 167-178.
    • Handle: RePEc:isp:journl:v:9:y:2015:i:1:p:167-178
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    References listed on IDEAS

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    9. Michael C. Jensen, 1991. "Corporate Control And The Politics Of Finance," Journal of Applied Corporate Finance, Morgan Stanley, vol. 4(2), pages 13-34, June.
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    More about this item

    Keywords

    corporate governance; principal-agent theory; oecd; czech laws;
    All these keywords.

    JEL classification:

    • A - General Economics and Teaching

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