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Does stakeholder theory provide a better basis for the development of Corporate Governance in the 21st century than agency theor
Finance & Accounting
Pages 6 (1506 words)
Does Stakeholder Theory Provide A Better Basis For The Development Of Corporate Governance In The 21st Century Than Agency Theory? Insert Name Insert Grade Course Insert Tutor’s Name Submission Date Stakeholder and Agency Theory Introduction and Background Organizations tend to look for means of constant improvement of their functions and operations to enable them achieve their set objectives in the current dynamic business environment.
It is important to understand the meaning of corporate governance to be able to fully discuss its features. Even though there are different variables that come into play because of the different operating environments in different nations, corporate governance may refer to that process that leads to effective control, direction and accountability in organizations. As a result, corporate governance involves elements like control, co-ordination, direction and the checks and balances associated with management of organizations. In addition to the definition of the term corporate governance, it is equally important to point out that the practice has evolved over the years to become a more complex but essential feature for the success of contemporary organizations. The concept of corporate governance has been fast adopted in various parts of the world but with some major variations because of the different circumstantial variations of nations (Clarke 2004). Consequently, there have been different frameworks of corporate governance that have emerged as a result of this. However, there are two main approaches of corporate governance that can be identified. ...
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