1/20/2024 0 Comments Corporate governance involves the exercise of control over a company's (course hero)![]() ![]() received considerable press attention due to the wave of CEO dismissals (e.g.: IBM, Kodak, Honeywell ) by their boards. In the first half of the 1990s, the issue of corporate governance in the U.S. Fifty years later, Eugene Fama and Michael Jensen 's " The Separation of Ownership and Control" (1983, Journal of Law and Economics) firmly established agency theory as a way of understanding corporate governance: the firm is seen as a series of contracts. ![]() Berle and Means' monograph " The Modern Corporation and Private Property " (1932, Macmillan) continues to have a profound influence on the conception of corporate governance in scholarly debates today. Means pondered on the changing role of the modern corporation in society. In the 20th century in the immediate aftermath of the Wall Street Crash of 1929 legal scholars such as Adolf Augustus Berle, Edwin Dodd, and Gardiner C. ![]()
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