'good corporate governance' is simply 'good business'.

May 29th, 2015
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Corporate governance has also been defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby, mitigating agency risks which may stem from the misdeeds of corporate officers." In contemporary business corporations, the main external stakeholder groups are shareholders, debtholders, trade creditors, suppliers, customers and communities affected by the corporation's activities. Internal stakeholders are the board of directors, executives, and other employees.

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Corporate governanceCorporate governancebroadly refers to the mechanisms, processes and relations by which corporations are controlled and directed.[1]Governance structures identify the distribution of rights and responsibilities among different participants in the corporation (such as the board of directors, managers, shareholders, creditors, auditors, regulators, and otherstakeholders) and includes the rules and procedures for making decisions in corporate affairs. Corporate governance includes the processes through which corporations' objectives are set and pursued in the context of the social, regulatory and market environment. Governance mechanisms include monitoring the actions, policies and decisions of corporations and their agents. Corporate governance practices are affected by attempts to align the interests of stakeholders. There has been renewed interest in the corporate governance practices of modern corporations, particularly in relation to accountability, since the high-profile collapses of a number of large corporations during 20012002, most of which involved accounting fraud; and then again after the recent financial crisis in 2008.Corporate scandalsof various forms have maintained public and political interest in theregulationof corporate governance. In the U.S., these includeEnronandMCI Inc.(formerly WorldCom). Their demise is associated with theU.S. federal governmentpassing theSarbanes-Oxley Actin 2002, intending to resto

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