Our current knowledge of the practice of corporate governance is limited, mainly because of ideological posturing in favor of shareholder or stakeholder primacy that goes back to the 1930s and beyond. As a consequence, evidence-based action in pursuit of improved governance in response to public concern is similarly often ideologically limited. Carter and Lorsch (2004) call for a return to the “drawing board” for corporate governance in order that practice reflects the complex world. Reflecting complexity requires that we understand the practice (Leblanc and Gillies 2005) of governance and the processes that comprise this practice. This, in turn, requires that we researchers too should return to the drawing board seeking deeper and more meaningful evidence from which to inform and improve practice.
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