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Seminar paper from the year 2004 in the subject Business economics - Accounting and Taxes, grade: 82/100, , course: Business English, language: English, abstract: Governance refers to the processes and structure by which the business and affairs of the company are directed and managed. The primary objective of sound corporate governance is to contribute to improved corporate performance and accountability in creating long term shareholder value. The main objective of this term paper is a brief overview of possibilities to give the board of directors reasons for improving the long term shareholder value. In order to achieve this goal the second chapter of this term paper deals with the concept of corporate governance itself. In taking a closer look at some basic approaches the main tasks and individual and team objectives should be brought out. The third chapter deals with the so-called principal-agent-problem. The essence of the agency-problem is the separation of ownership und control or the conflict of interests among owners and managers. Chapter four introduces remuneration systems which are qualified to solve the agency problem and satisfy both: owners and managers of a company. Finally, chapter five concludes the paper.