• Dr. R. Jayaprakash Reddy
• Vinayak S Angadi

In this research paper, relevant theoretical dimensions of corporate governance are discussed. This research paper examines many theories and corporate governance models that have been applied globally, examining their respective advantages and disadvantages. The objectives are to find the best theory and model and to test its applicability to different economic systems. This notion has frequently been referenced in corporate governance theory to help the board of directors make judgments about how to limit the amount of executive power that management has. The Agency Theory is helpful for this goal, but it offers little assistance on corporate governance in complex real-world settings. The current governance structure, which is founded on the Agency Theory, has become self-restrictive and ineffective as a result of the combining of the principal and agent roles. The legal obligation of the board of directors is to act in the interests of the shareholders, there have been instances where attempts to supplement the Agency Theory with alternative theoretical frameworks like the Stakeholder Theory and the Stewardship Theory. Although it offers fresh perspectives, a governance model based on the Trusteeship notion nevertheless has some practical problems. As a result, the board members have not found these alternative frameworks to be very helpful in helping them determine what makes the "correct" option. Therefore, we require fresh theoretical perspectives that could lead to a systematic model of corporate governance.

Corporate Governance, Theory, Model, Economy, Stakeholder, Independent Director

"Corporate Governance Theoretical Framework and Models – A review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org), ISSN:2349-5162, Vol.9, Issue 12, page no.a338-a354, December-2022, Available :http://www.jetir.org/papers/JETIR2212040.pdf

"Corporate Governance Theoretical Framework and Models – A review", International Journal of Emerging Technologies and Innovative Research (www.jetir.org | UGC and issn Approved), ISSN:2349-5162, Vol.9, Issue 12, page no. ppa338-a354, December-2022, Available at : http://www.jetir.org/papers/JETIR2212040.pdf