(Roy, 2006) In these cases, others working in those fields are the only ones who have the ability to conduct quality check to verify instances of possible fraud. Qualified doctors can analyze the work of other doctors to attest their medical malpractice. An honest lawyer who deals with related issues can understand how a fellow lawyer could have used deceitful methods to cheat a client off his money. Proficient lecturers can set good examples for students to bring out the incompetency of others. In the managerial level, well qualified professionals are the only ones who are smart enough to figure out the plots hatched by higher executives in order to use the shareholder money for personal needs. Scams in the political sector can only be challenged by opposing political parties or powerful entities like the court. The media is highly potent in this regard as they present malpractices in front of the public in a way that they can understand what is going on. (Maher & Andersson, n.d.)

The idea of corporate governance can be best understood by analyzing the interactions going on within institutions between the representatives of its different sectors. This follows from the theory that firms are a part of a multi-facetted institutional structure. A research on the history of corporate governance presents the variations in the responsibilities of the different parties involved in the firm. Arguments over whether the impact of globalization...

There has been a lot of interest generated recently over the fusion of corporate governance models and the distribution of their practices in different countries. Corporate accountability, the connection between innovation systems and corporate governance, corporate transparency and the way corporate governance functions in multinational corporations are some areas which need further research. (Maher & Andersson, n.d.)
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Corporate Social Responsibility (CSR) [online] Available at: [Accessed 11 August 2010]

Blundell M., Explain what is meant by the principal agent problem [online] Available at:

< tutor2u.net/blog/files/Principal_Agent_Problem.pdf > [Accessed 11 August 2010]

Maher, M. & Andersson, T. Corporate Governance:Effects on firm performance and economic growth [online] Available at: < www.ecgi.org/research/accession/cgeu.pdf> [Accessed 11 August 2010]

Roy, S, 2006 Corporate Governance & the Principal-Agent Problem

[online] Available at: < http://independentindian.com/2009/01/08/corporate-governance-the-principal-agent-problem-a-brief-lecture-dated-31-may-2006 / > [Accessed 11 August 2010]