Abstract. The corporate governance is a central and dynamic aspect of the businesses. The term governance comes from the latin “gubernare”, meaning to guide and supposes that the corporate governance imply equally both the leadership function and that of control. As is known there are more ways of defining the enterprise governance starting from the simple stones, which focus on the enterprise and its shareholders, to the most complex ones incorporating individual or departamental responsability to implement a given function of the companies and which implies many other groups of persons. Responsability is the consequence of the law and reglementation application or contract agreements.

Keywords: corporate governance; shareholders model; stakeholders theory; agency theory; toward a convergence.