Regulatory Framework: to ensure corporate governance:

May 29th, 2015
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Abilene Christian University
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Meaning: Corporate governance refers to the set of processes, customs, policies, laws and institutions influencing the administration of a corporation. Corporate governance includes the relationships among the many players and the goals of the corporation. The shareholders, management and the board of directors are the principal players. The employees, suppliers, customers, banks, the environment and the community at large are the other stakeholders.

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CORPORATEGOVERNANCEMeaning:Corporate governance refers to the set of processes, customs, policies, laws and institutions influencing the administration of a corporation.Corporate governance includes the relationships among the many players and the goals of the corporation. The shareholders, management and the board of directors are the principal players. The employees, suppliers, customers, banks, the environment and the community at large are the other stakeholders.Accountability of individuals and economic efficiency of the corporation are the important aspects of corporate governance. The stakeholder view and the corporate governance models are also the topics of concern of corporate governance. Thus corporate governance is a multi-faceted subject.Donovan defines corporate governance as "an internal system encompassing policies, processes and people, which serves the needs of shareholders and other stakeholders, by directing and controlling management activities with good business savvy, objectivity and integrity. Sound corporate governance is reliant on external market place commitment and legislation, plus a healthy broad culture which safeguards policies and processes".According to SEBI, corporate governance is the acceptance by the management of the inalienable rights of shareholders as the true owners of the corporation and of their own role as trustees on behalf of the shareholders. Corporate governance is considered as ethics and a valuable duty.Princi

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