Corporate Governance: An Evaluative and Evolutionary Approach

Abstract

Corporate governance is essential for optimizing performance and ensuring the sustainability of contemporary organizations. This article offers an in-depth analysis that combines evaluative and evolutionary approaches to provide a comprehensive understanding of governance practices. The evaluative approach is based on the examination of key indicators such as financial profitability, operational transparency, stakeholder satisfaction, risk management, and environmental responsibility. Complementing this, the evolutionary approach utilizes analytical tools like Markovian modeling to capture the dynamics and evolution of governance practices over time, thereby offering an integrated and temporal perspective on the continuous improvement of organizations.