Governance has only emerged in the last couple of decades as an explicit field of study, primarily in response to management failures of corporate entities around the globe since the 1980s. Failures of large corporations, such as Enron in the United States and OneTel in Australia, have emphasised the need for adequate corp orate governance to protect the rights and interests of the stakeholders. Accord ing to one of the pioneering researchers in the field, Bob Tricker (1993), the impetus for research into governance was the poor performance of corporate leadership. The role and structure of boards were therefore investigated with the aim of improving performance and thus enhancing the sustainability of the corp - orate entity.