Strategy and Corporate Governance -- Part II

Here is a thought prompted by my preparation for the Directors' Summit (see immediately below): if entrepreneurial firms have different strategic needs from other companies, should their corporate governance system also be different? Of course, privately held firms will necessarily be different from firms whose shares are publicly traded, but is corporate governance a "one size fits all" affair for publicly traded firms? My intuition tells me that there must be important differences among firms, but I don't think we have really confronted this issue as a regulatory matter. Stay tuned for more thoughts on this topic as things develop.