This module examines the principal forms of corporate governance, control and regulation of the firm across countries. In particular, it introduces the key features of corporate governance and considers the legal relationship between directors, managers, and shareholders, including the contribution shareholder activism can make to improving corporate governance. The module also discusses the market for corporate control and the growing empirical research on comparative corporate governance. The overall purpose is to provide a theoretical and practical grasp of corporate governance, which can be useful for academic as all well as professional work in this field.