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New Corporate Governance in Theory and Practice, The U.S. Cyber Command and prominent record producers andForty years ago, managerialism dominated corporate governance. In both theory and practice, a team of senior managers ran the corporation with little or no interference from other stakeholders. Shareholders were essentially powerless and typically quiescent. Boards of directors were little more than rubber stamps. Today, the corporate governance landscape looks vastly different. The fall out from the post Enron scandal and implementation of the