ABSTRACT
This chapter presents the theoretical framework for our analysis. We argue that corporate governance is best understood by means of a field approach, which acknowledges that corporations are embedded in a field of governance with reciprocal relationships. As a result, we present an alternative approach to corporate governance that focuses on three actor groups: regulators, market actors and scrutinizers. Further, we demonstrate in the chapter how these actor groups govern corporations by different means. In addition, we show how they have reciprocal relationships with each other and with corporations.
