THEORIES THAT LIE BEHIND CORPORATE GOVERNANCE

Today's complex business world is characterized by the concept of "corporate governance". Corporations have now the power to decide the fate of individuals and how the scarce resources of the planet are exploited. The goal of this article is to explain the concept of "corporate governance", to present the main theories that lie behind it (agency, stewardship, stakeholder, resource dependency, transaction cost, political, cultural, power theories, the simple finance model, cybernetic analysis and ethics theories) and to express the sustainability of this business concept.