ABSTRACT
The notion of 'corporate governance', however, is a more recent phenomenon, which is growing rapidly. The term first appeared in 1981 in George Siedel's article, 'Corporate Governance under the Foreign Corrupt Practices Act'. Corporate Social Responsibility (CSR) discourse advances a concept of business responsibility at odds with traditional notions of corporate governance. Early social scientific scholarship on governance dwelt on new forms of decision-making taking place within domestic political systems. Deregulation has substantially reduced the risks to any individual involved in setting up a corporation, but at the same time it has created a corresponding anxiety about the new and public risks that potentially result from the decline in national controls, and the risks associated with the spread of non-territorial capital. Governance is thus implicated in the articulation and constitution of new scales or spaces of governance. UN Global Compact has been represented as a paradigmatic case of network governance.
