Corporate governance facing corporate social responsability: solving challenges in the 21st century

Abstract

Within the context of modern Corporate Governance and particularly in the aftermath of the financial scandals of the XXIst Century, companies, regulators, markets and the public in general claim for more transparency, accountability, shareholders and investor protection. There is also a trend towards reinforcing the Responsibility of Companies towards the Communities in which they develop their businesses. However, generally speaking shareholders do not have a direct control nor saying in management; and stakeholders possibility of influencing corporations’ decisions seems very rare. This article reviews some of the existing corporate cultural and legal systems and provides ideas for future development of corporate Governance in de field of Share- and Interest- -Holders’ protection