The term ‘corporate governance’ is used with a wide variety of meanings.
It’s taken for granted that ‘good governance’ is a good thing, and intuitively we expect
a well-governed organization to perform better. But without agreement on what the term means,
it’s hard to make sense of the measures and comparisons, and it’s hard for managers to know
what, if anything, they are expected to do.
Here are some of the things people refer to when they write about ‘corporate governance’.