Regulatory Framework: to ensure corporate governance:

May 29th, 2015
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Abilene Christian University
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Defining corporate as “a complex web of contractual relationship among the various claimants to the cash flows of the enterprise”, one school of thought argues that the fiduciary duties of managers & directors of companies should not only confine to maximization of the firm value for shareholders but also extend to ensure safety & soundness of the enterprises. This argument obviously expects corporate to become powerful economic entities & important social institutions that use its economic power to add value to society in general & peoples lives in particular. This new moral contract between the corporate individuals & the society is essentially aimed at transforming the corporate as value-creating institutions.

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CORPORATE GOVERNANCE.Today virtually every industrialized nation is seriously engaged in defining the kind of corporate governance that should be put in place to manage the economic activities. Corporate governance has evolved in to an umbrella term that encompasses the economic, legal & institutional effort that allows companies to diversify, grow, restructure & exit all in order to maximize the shareholders value. It deals with the ways through which suppliers of finance to corporation can assure themselves of getting a return on their investment. As the Nobel laureate Milton Friedman observed, corporate governance has today become much more than the conduct of business in accordance with shareholders desires. However, corporate governance doesnt appear to have yet taken roots in the Indian insurance companies.Defining corporate as a complex web of contractual relationship among the various claimants to the cash flows of the enterprise, one school of thought argues that the fiduciary duties of managers & directors of companies should not only confine to maximization of the firm value for shareholders but also extend to ensure safety & soundness of the enterprises. This argument obviously expects corporate to become powerful economic entities & important social institutions that use its economic power to add value to society in general & peoples lives in particular. This new moral contract between the corporate individuals & the society is essentially

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