Question
In: Accounting
what is corporate governance and how does it work?
what is corporate governance and how does it work?
Solutions
Expert Solution
Corporate Governance: Corporate governance is defined as the
system by which a company or enterprise is
directed and controlled to achieve the objective of increasing
shareholder value by enhancing economic
performance. Corporate governance concerns the relationships among
the management, Board of Directors, the
controlling shareholders and other stakeholders.
The conformance dimension of Corporate governance provides a historic view and focuses on regulatory requirements. This covers corporate governance issues such as: Roles of the chairman and CEO, Role and composition of the board of directors, Board committees, Controls assurance and Risk management for compliance.
The performance dimension of Corporate governance is proactive in its approach. It is business oriented and takes a forward looking view. This dimension focuses on strategy and value creation with the objective of helping the board to make strategic decisions,
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