Integration processes of the main models of corporate governance
DOI:
https://doi.org/10.26485/SPE/2022/125/8Keywords:
corporate governance models, convergence, financial crisesAbstract
Background: Recent decades have seen an increase in interest in corporate governance. It was realized that supervision may become an important factor of economic growth or increasing the competitiveness of the economy. It was also noticed that errors in supervision may have negative consequences both for companies and for entire economies. They can also be the cause of financial crises. The article presents the processes of changes taking place in the monistic and dualistic models of supervision. The analysis was conducted in terms of the integration of both these models.
Research purpose: The aim of the study is to define the scope of the integration processes of the main models of corporate governance, namely monistic and dualistic.
Methods: In order to achieve the above-mentioned goal, a critical analysis of the literature on the subject and relevant legal regulations was applied.
Conclusions: The conducted considerations allow to conclude that in both examined models of supervision the changes run in the same or a similar direction (convergence phenomenon). These changes are generally evolutionary in nature, but the deeper changes took place under the influence of the largest financial crises in the recent years, 1997–1998 and 2007–2008. It can also be seen that the first of these crises resulted in greater changes in the monistic model, while the second in the dualistic model.
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