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This paper focuses on the effectiveness of corporations’ governance culture within the
context of economic performance. Universally it is viewed that, there are key factors
such as historical, cultural, political and institutional play a decisive role in the overall
performance of the corporations. Besides, there also evolved various legal theories
such as agency theory, stewardship theory, shareholder theory and stakeholder theory,
affecting the governance structure of these corporations. Therefore this study involves
the examination and evaluation of these key factors and legal theories to what extent
they are critical in the economic performance of the corporations and the wellbeing of all
the stakeholders.


1.0 Introduction

2.0 Theoretical Foundations in Corporate Governance

3.0 Impacts of Key factors upon Corporate Governance

4.0 Researcher’s Observations

5.0 Conclusion



List of Figures

Figure 1: List of Global Corporate Scandals

Figure 2: System’s Perspective of Corporate Governance
Figure 3: Conception and Evolution of Legal Theories

List of Tables

Table 1: Corporate Governance Models

Table 2: Organizational Factors Influencing Lehman’s Downfall
Table 3: Organizational Factors Influencing Siemens Downfall
Table 4: Organizational Factors Influencing Toshiba’s Downfall
Table 5: Descriptive of Corporate Governance vs Human Governance

List of Cases

Case 1: Scandal at Lehman Brothers, US

Case 2: Scandal at Siemens, Germany
Case 3: Scandal at Toshiba, Japan