Corporate governance represents one of the most important preconditions for a smooth-functioning economic and financial world-wide system. During the latest decades it has been more and more discussed among scholars, regulators and firms. Its growing importance is due to a number of factors, many of which require corporate governance to be seen under a brand new perspective. Within this work, we start by giving evidence of the more traditional theories on corporate organization, management and control, with special regard to the Italian (past and present) legislative framework. In particular, we try to consider whether globalization and the recent financial crisis have an impact on the deep-rooted corporate governance principles and rules. In this standpoint, the work aims at providing a personal interpretation of the law and economics literature, taking into consideration also the recent market practices. We try therefore to debate on the role that corporate governance regulation might play in the renewed order of the financial market, with specific attention to the banking system and its soundness.