Oxford Handbooks: The Oxford Handbook of Corporate Governance

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The behavior of managers, including the rewards for poor performance, the oversight role of boards of directors, and the regulatory frameworks ensuring accountability to shareholders and stakeholders, has garnered significant media and policy attention, especially following the early 2000s financial crisis. However, corporate governance encompasses a broader range of issues that demand thorough examination as critical concerns for both business and society. Traditional governance research, particularly agency theory, has faced critiques for being "under-contextualized" and for its limited ability to accurately compare and explain diverse corporate governance arrangements across various institutional contexts. This Handbook seeks to address these theoretical and empirical gaps by exploring corporate governance at multiple levels, including individual managers, firms, institutions, industries, and nations, while presenting international evidence to showcase diverse perspectives. It evaluates the impact of corporate governance on performance through various indicators, such as accounting profit, economic profit, productivity growth, market share, and aspects of corporate social responsibility. Each chapter not only reviews existing literature but also proposes future research agendas on specific governance aspects, making this Handbook a comprehensive source of academic research that integrates studies from multiple disciplines,