The Theory of Pluralism in Corporate Governance: A Conceptual Framework and Empirical Test.

The concept of pluralism in corporate governance is stated as an emergent theory. Grounded in the concept of enhancing the input of various stakeholders and lessening the control of managers in corporate governance, the theory is the foundation of proposed changes in the Model Business Corporation Act. While more pluralistic control has been conceptually linked to improved social performance of the firm, this proposition is not supported in an empirical investigation. [ABSTRACT FROM AUTHOR]