Introduction to corporate_governance

May 29th, 2015
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Corporate Governance has as its backbone a set of transparent relationship between an institution’s management, its Board, shareholders and other stakeholders. It should therefore take into account a number of aspects such as enhancement of shareholder’s value, protection of rights of shareholders, composition and role of Board of Directors, integrity of accounting practices and disclosure norms and internal control system. As far as the banking industry is concerned, corporate governance relates to the manner in which the business and affairs of individual banks are directed and managed by their Board of Directors and Senior management. It also provides the structure through which objectives of the institution are set, the strategy of attaining those objectives is determined and the performance of the institution is monitored.

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1. INTRODUCTION Corporate Governance has as its backbone a set of transparent relationship between an institutions management, its Board, shareholders and other stakeholders. It should therefore take into account a number of aspects such as enhancement of shareholders value, protection of rights of shareholders, composition and role of Board of Directors, integrity of accounting practices and disclosure norms and internal control system. As far as the banking industry is concerned, corporate governance relates to the manner in which the business and affairs of individual banks are directed and managed by their Board of Directors and Senior management. It also provides the structure through which objectives of the institution are set, the strategy of attaining those objectives is determined and the performance of the institution is monitored. The term governance has been derived from the word gubernare, which means to rule or steer. The word was originally meant to be normative framework for exercise of power and acceptance of accountability thereof in the running of kingdoms, regions and towns. However, over the years, the term has found significant relevance in the corporate world. This is particularly so in the context of the growing number and size of the corporations, the widening base of shareholders, increasing linkages with the physical environment, and their overall impact on the societys well-being. Governance has assumed greater impor

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