Organizational Chiaroscuro: Throwing Light on the Concept of Corporate Governance

Abstract

Corporate governance describes an apparent attempt by the corporate sector to put its house in order. Relative to a number of notorious examples of illegal or unethical corporate malpractice, corporate governance is seen as a recent, welcome and well-intentioned concern. However, rather than the universal good which it would appear to be, by reference to the work of Foucault corporate governance is disclosed as partial and interested. Far from being a new response to a contemporary problem, corporate governance is shown to have a long history, both of academic interest and of ineffectuality. Apparent differences in orientation over its history are dissolved and, via the analogy of chiaroscuro, corporate governance is shown to be just another reactive and manipulative defense of capitalism.