CORPORATE GOVERNANCE: WHAT IT IS AND WHY IT MATTERS?

May 29th, 2015
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In Nepalese context, the regulators very kindly agreed for the entry of international players in the form of joint venture banks into the market. This shows that government/regulators are open to competition from international companies. With Nepal’s accession to World Trade Organization, other major international players are expected to join in who will bring in fresh dimensions to the sector. In other developing markets, the entry of international players has made all the difference; they have galvanized the market and imparted healthy competition. Banking reforms can only be fully implemented once prudential regulatory systems are in place. As a matter of fact, Nepal has plenty of it.

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Corporate Governance: Need & Significance in Nepalese Banking SystemGood corporate governance is a key part of any regime which has confidence, integrity and efficiency as its bedrock and which is looking to attract and retain capital on a sustained long term basis. For this reason, it is important that good corporate governance is not only driven by compliance or regulatory requirements, but very importantly is also seen as a means by which companies and economies can improve their performance, competitiveness and sustainability. Corporate governance as properly understood describes the framework of rules, relationships, systems and processes within which and by which authority is exercised and controlled in corporations. Understood in this way, the expression corporate governance embraces not only the models or systems themselves but also the practices by which that exercise and control of authority is in fact effected. Good corporate governance can also be defined by looking at the opposite and some of the catastrophic failures, such as Enron, Palarmat, Barings, HIH, many of which happened very quickly, and involved companies which ostensibly appeared to be doing very well.Concisely, corporate governance is all about responsibility and accountability of the directors and the management team to the stakeholders. It has to be a transparent a

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