The idea of this paper is to determine the mental models of actors in the fi rm with respect to the cognitive approach of corporate governance. The paper takes a corporate governance perspective, discusses mental models and uses the cognitive map to view the diagrams showing the ways of thinking and the conceptualization of the cognitive approach. In addition, it employs a cognitive mapping technique. Returning to the systematic exploration of grids for each actor, it concludes that there is a balance of concepts expressing their cognitive orientation.