Corporate Governance Viability： Theoretical Exploration.pdfVIP

JournalofM odem AccountingandAuditing，ISSN 1548-6583 October2013，Vo1．9，No．10，1366-1375 aL l署 1．4lN 曩 CorporateGovernanceViability：TheoreticalExploration MirjanaKuljak UniversityofMontenegro，Podgorica，Montenegro Thepurposeofthisexploratorypaperistotry toenvisionhow coprorategovemancesystemsandpractic0sa0 evolvin2andwhateventuallydeterminesthefomr stheytakeandthefunctionstheyperform．Practicalimplications esDeciallyconcerndifferentconsequencesthatrecentglobaleconomiccrisishasimposedonregulatory，business， andsocialaspectsofcorporategovemance．Inordertoencompassdifferentapproachestothisongonigissue，the authortakesintoaccountmainlytheoreticalcontributionsthataddresstheissuefrom thefollowingperspectives： interrelationsbetween productmarketcompetition and corporate governance，assessmentof capitalmarket Dressures on coprorate governance；relation between labour marketand coprorate govemance；and acto influencingcorporategovemancechnagesinnationalsystemsofcoprorategovemance．Sincetheviabiliyt otanY c0prOrategoref13ancesystem andpractice，at nationalnadinternationallevels，dependsontheirabilitytorespondto bothmarketDressuretowardscompetitivenessand diversifiedrequirementsby influentialsocial，political，na d economicact0rsofchange，theauthorsuggeststhatallgroupsoffactorsshouldcontinuetobeinthefocusoffuture researches．0ntheotherhand，asglobaleconomiccrisisdifferentlyaffectsdifferentcountriesandbusinesses，itIS ofparticularimportanceofrthosethatshapecoprorategovernancepoliciesnadpracticestobeawraeofthedeep relatednessbetweencorporategovemance，ontheonehnad，andeconomic，social，andenvironmentalaspectsof growthanddevelopment，ontheotherhand．