Our research is designed to assess wbether the somewhat standard structural measures of corporate governance are useful in understanding managerial behavior and corporate if we find unexpected relations and/or statistically insignificant results after a careful attempt to develop reliable and valid measures of Fovernance. then this raises concerns about the use of these traditional structural measures for archival governance However, this result does not necessarily imply that corporate governance has little impact on executive behavior or organizational performance. This tesult may simply indicate that our ability as researchers to measure and capture the construct of corporate governance is very limited with existing structural measures.