CORPORATE GOVERNANCE: WHAT IT IS AND WHY IT MATTERS?

May 29th, 2015
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Adelphi University
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A related but separate thread of discussions focuses on the impact of a corporate governance system on economic efficiency, with a strong emphasis on shareholders' welfare; this aspect is particularly present in contemporary public debates and developments in regulatory policy (see regulation and policy regulation).[9]

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Corporate governance is "the system by which companies are directed and controlled" (Cadbury Committee, 1992).[1] It involves a set of relationships between a companys management, its board, its shareholders and other stakeholders; it deals with prevention or mitigation of the conflict of interests of stakeholders.[2] Ways of mitigating or preventing these conflicts of interests include the processes, customs, policies, laws, and institutions which have impact on the way a company is controlled.[3][4] An important theme of corporate governance is the nature and extent of accountability of people in the business, and mechanisms that try to decrease the principalagent problem.[5]Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed.[6][7] In contemporary business corporations, the main externa

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