The Evolution of Corporate Governance Practices: A Historical and Critical Analysis

Abstract

Corporate governance is an ever-evolving landscape, shaped by dynamic socio-economic, regulatory, and cultural influences. This abstract delves into the multifaceted journey of corporate governance practices, tracing their evolution from traditional models to contemporary paradigms. This comprehensive analysis navigates through historical contexts, highlighting pivotal milestones and seminal theories that have shaped corporate governance. It explores the transition from early shareholder-centric approaches to a broader stakeholder perspective, emphasizing the significance of ethical decision-making, sustainability, and social responsibility in today's corporate ethos. The abstract scrutinizes the impact of global events, such as financial crises, technological advancements, and shifting geopolitical landscapes, on governance frameworks. It scrutinizes how these factors have necessitated adaptive measures in governance structures to mitigate risks, enhance transparency, and ensure accountability. Moreover, the abstract evaluates the role of regulatory bodies and institutional frameworks in shaping corporate governance practices.