External Corporate Governance Model

In recent decades, corporate governance has attracted the attention of many researchers. Most corporate governance studies have focused on internal control mechanisms, while the research has ignored the role of external corporate governance controls in preventing managers' beneficial activities and maintaining stakeholder rights. This paper based on Philosophical foundations of symbolic and Qualitative approach seeks to design Corporate Governance external Control Model in Iranian firms. Accordingly, this study uses classic grounded theory analysis and induction-based coding approach. The conclusions emerge from 12 semi-structured interviews through theoretical sampling and to reach the stage of saturation extract, and at the end of open, key point and Theoretical coding, Corporate Governance External Control Model explained. Media control, Board of Directors Complexity control, Market control, Control activity of Stakeholders, Legal system control, Auditing and Ranking system are main six dimensions of corporate external control.

Keywords:

Corporate Governance , Strategic control , External Corporate Governance , Agency Theory , Grounded Theory Strategy