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The New Corporate Governance in Theory and Practice | Oxford Scholarship Online
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The New Corporate Governance in Theory and Practice

Stephen Bainbridge


Forty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Boards of directors were little more than rubber stamps. Today, corporate governance looks very different. In particular, several trends have coalesced to encourage more active and effective board oversight. Much director compensation is now paid in stock, for example, which helps align director and shareholder interests. Courts have made clear that effective board processes and oversight are essential ... More

Keywords: managerialism, corporations, governance, boards, directors, shareholders

Bibliographic Information

Print publication date: 2008 Print ISBN-13: 9780195337501
Published to Oxford Scholarship Online: January 2009 DOI:10.1093/acprof:oso/9780195337501.001.0001


Affiliations are at time of print publication.

Stephen Bainbridge, author