A systematic review of organizational theories explaining roles of governance models, typologies, and frameworks

Abstract

Corporate governance keeps on facing normative and strategic challenges through technology developments of the digital age, climate change, or global political developments which influence pressing issues regarding Corporate Social Responsibility (CSR) amongst others. Despite this complexity debates on the roles of corporate governance often rely on a singular underlying organizational theory if at all explicated. This leads to a mono-perspective understanding of corporate governance roles. Yet, only a multi-theory view as discussed by Hung1 or Huse2 adequately addresses today's ambiguity and complex systemic dynamics. The aim of this article is to create an updated typology comparing and juxtaposing various board related organizational theories. This may broaden the foundational understanding of corporate governance and eventually influence CSR advancements. By means of a systematic literature review (SLR) the authors searched for peer-reviewed articles from high-quality academic journals or highly cited boo