corporate governance

Corporate Governance in the Era of Globalization

Concept and Its Meaning

Corporate governance is a process or a set of system and processes to ensure that a company is managed to suit the best interests of all. The systems which can ensure this may include structural and organizational matters. The stakeholders may be internal stakeholders (promoters, members, workmen and executives) and external stakeholders (shareholders, customers, lenders, dealers, venders, bankers, community, government and regulators) corporate governance is concerned with the establishment of a system whereby the director are entrusted with responsibilities and duties in relation to the direction of corporate affairs. It is concerned with accountability of persons who are managing it towards the stakeholders. It is concerned with the morals, ethics, values, parameters, conduct and behavior of the company and its management.

Corporate governance is a voluntary ethical code of business of companies. Acco...