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Many legal scholars do not readily associate executive search firms ("ESFs") with corporate governance, yet they are intimately connected with a key mechanism of corporate governance--elite labor markets. Corporate governance is a nexus of individual and environmental factors, a narrative of nature and nurture. Talent obviously matters, but legal scholars, courts, and policymakers overwhelmingly focus on structural mechanisms, procedures, and environmental factors. This Article makes an essential contribution to the corporate gatekeeper discussion by revealing how ESFs provide an assortment of private solutions to governance problems that scholars have attempted to address through legal and regulatory means. The ultimate success or failure of these private solutions may be instructive for designing more effective regulations, policies, and practices to promote better governance. [ABSTRACT FROM AUTHOR]

The article offers information on the development of a regulatory legal framework for prohibiting the for-profit higher education abuses. It informs that the U.S. federal government is providing higher education funding programs to promote access to higher education for vulnerable students in association with the For-Profit Colleges & Universities (FPCU). It suggests reforms in the educational field by the government for availability of higher education to low socio-economic status student.