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What is the state of corporate governance in the UK, USA, EU, Australia, Japan and the GCC countries?
Finance & Accounting
Pages 35 (8785 words)
Corporate governance, from an overall perspective, can be viewed as an umbrella term, which encompasses various dimensions associated with theories, concepts and activities of the board of directors, their non-executive and executive directors.
It a discipline that focuses mainly on existing relationships between a company’s top management, its stockholders, boards, regulators, other stakeholders and auditors, and is a “system by which companies are directed and controlled” (Corporate Governance, nd., p.11). The system takes into account various market and regulatory structures, while also considering objectives for governing business firms. As OECD framed it, “Corporate governance involves a set of relationships between a company’s management, its board, its shareholders and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined” (OECD, 2004, p. 11). ...
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