ABSTRACT
This chapter discusses the issue of corporate governance failures by taking an international view. It presents a short summary of three of the most important corporate governance problem areas: executive compensation, extraction of private benefits of control and gatekeeper failure. This will be followed by a section dedicated to the analysis of corporate governance problems from an international perspective. A non-observance of the respective code of conduct represents corporate governance failures which range from corporate misconduct and fraudulent behaviour such as earning misreporting. Artero stated that the reinforcement of corporate governance as an academic, professional, and policy field is a consequence of the many corporate failures that have occurred in recent years'. This awareness of the importance of institutional contexts in the analysis of national systems has stimulated international corporate governance research concentrating on the impact of the prevalent ownership structures as well as the legal and regulatory environments on the corporate governance configurations.
