ABSTRACT
In recent years, corporate governance has not only developed into the important topic for academic research, but has also become an influential theme on business and political forums. The ongoing debate is to large extent driven by the weaknesses of corporate governance at the company and national levels. The scope and the impact of the financial crisis, which is believed to be heavily rooted in the corporate governance inefficiencies of public listed companies and financial institutions, boosted changes in regulation and corporate policies. In addition and more importantly, the debate on the direction for corporate governance development is framed within the relationship between society and business, the purposes and responsibilities of companies and the criteria for the assessment of performance. The system of corporate governance refers to the interdependences of law, finance, sociology, politics and culture, resulting in a given framework for the role and function of the company in the economy and society.
