ABSTRACT. Considerable research attention has focused on the nature and qualities of human cognitive assets relevant to corporate organizations, the fundamental self-governing nature of business corporations, the attributes and values of management’s and workers’ cognitive assets, and the societal order’s impacts on the architectural and governance structure of business corporations. The theory that I shall seek to elaborate here puts considerable emphasis on the fundamental nature of business corporations as systems of associational cognitions, the evolutionary change of the societal rules, forms of mutually reinforcing combinations of political and corporate governance, and major determinants of corporate governance and ownership structure. pp. 245–250
JEL Classification: G32, J53, O16

Keywords: corporate governance, business corporations, managerial cognition