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CORPORATE GOVERNANCE: WHAT IT IS AND WHY IT MATTERS?

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Corporate Governance: Need & Significance in Nepalese Banking System Good corporate governance is a key part of any regime which has confidence, integrity and efficiency as its bedrock and which is looking to attract and retain capital on a sustained long term basis. For this reason, it is important that good corporate governance is not only driven by compliance or regulatory requirements, but very importantly is also seen as a means by which companies and economies can improve their performance, competitiveness and sustainability. Corporate governance – as properly understood – describes the framework of rules, relationships, systems and processes within which and by which authority is exercised and controlled in corporations. Understood in this way, the expression ‘corporate governance’ embraces not only the models or systems themselves but also the practices by which that exercise and control of authority is in fact effected. Good corporate governance can also be defined by looking at the opposite – and some of the catastrophic failures, such as Enron, Palarmat, Barings, HIH, many of which happened very quickly, and involved companies which ostensibly appeared to be doing very well. Concisely, corporate governance is all about responsibility and accountability of the directors and the management team to the stakeholders. It has to be a transparent a ...
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