Abstract
This chapter provides different definitions of corporate governance and explores the scope of corporate governance, including the significance of corporate constitutions. It establishes the difference between governance and management and highlights the performance and conformance roles in corporate governance. It also mentions Sir Adrian Cadbury's Report on the Financial Aspects of Corporate Governance, published in 1992, which defined corporate governance as the system by which companies are directed and controlled. The chapter discusses the principal concern of financial economists about the ownership concentration in corporate governance systems around the world and the legal protection available to investors. It describes the shareholders, board of directors, and management, which are central to corporate governance thinking and practice.
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