HISTORICAL REVIEW AND TAXONOMY OF INTERNATIONAL CORPORATE GOVERNANCE

Abstract

The Study examined the historical background of the development of corporate countries like United States of America, Germany, France, United Kingdom and Nigeria. Each of the countries under review showed different historical background which ranges from family ownership to dispensed shareholders. The study also discovered that in the current situation, most countries are converging towards international corporate governance practices. More executive is given to shareholders’ right and protection, dichotomy of chairman and chief executive officer dispensed shareholdings, functional judicial system and better regulatory framework. The paper recommends that an international code of corporate governance be instituted to guide at least multi-national companies and to support the international financial reporting system which is becoming a universal reporting system.