Advances in Corporate Governance

Listed corporations have been at the centre of corporate governance research and professional concern. Yet, organisational diversity reflecting a wide range of corporate forms and an evolving understanding of the corporation’s social role have broadened the scope of corporate governance beyond the listed firm. This chapter synthesises the preceding chapters’ findings. Starting with a discussion of different theoretical approaches, the chapter demonstrates the need to reflect on the applicability of the principal–agent theory to organisational forms such as non-profits and social enterprises with multiple stakeholders. Afterwards, the varying needs for corporate governance are discussed, thereby pointing to how existing models and approaches play out in different organisational contexts. The chapter concludes with implications for the development of corporate governance, derived from this volume’s comparative analysis.