The Relationship between the Global Financial Crisis and Corporate Governance

Abstract

Aiming to find a connection between the global financial crisis
and the theoretical and practical conception and model of corporate
governance, this paper analyzes the historical context of the financial
crisis and the effects of corporate decisions in its development, from the
initial phases when the crisis was recognized, to the post-crisis
regulatory measures taken by governments. The paper examines the
model of corporate and economic governance established before the
crisis occurred and gives specific proposals towards establishing an
enhanced model of corporate governance, aimed primarily towards
establishing a more sustainable model of free-market capitalism. The
authors, through their support of the new wave of selective government
interventionism, aim to establish theoretical views related to the
fundaments of the new, post-crisis model of corporate governance.