An International Comparison of Corporate Governance Models: a study on the formal independence and governance of one-tier and two-tier corporate boards of directors in the United States of America, the United Kingdom and the Netherlands

According to Cochran and Wartick (1988), corporate governance is an umbrella term that covers many aspects related to concepts, theories and practices of boards of directors and their executive and non-executive directors. It is a field that concentrates on the relationship between boards, stockholders, top management, regulators, auditors and other stakeholders. A related definition of corporate governance comes from Monks and Minow (1995). These authors state: “What is corporate governance? It is the relationship among various participants in determining the direction and performance of corp... Mehr ...