The problem. The purpose of this research was to identify factors related to the implementation of corporate governance.;Method. A survey instrument was developed to gather relevant information from a sample of members of boards of directors and officers of Fortune 500 corporations. Student's t-tests and chi-square tests were used to analyze data in order to determine which factors were related to the implementation of corporate governance.;Results. Hypothesis testing identified several factors that were significantly related to the implementation of corporate governance. Both competitor pressures and government regulations were identified as having a strong influence over the decision to implement corporate governance.