{"id":79162,"date":"2020-05-13T14:25:59","date_gmt":"2020-05-13T08:55:59","guid":{"rendered":"https:\/\/www.vskills.in\/certification\/tutorial\/?p=79162"},"modified":"2024-04-12T14:24:45","modified_gmt":"2024-04-12T08:54:45","slug":"other-definitions","status":"publish","type":"page","link":"https:\/\/www.vskills.in\/certification\/tutorial\/other-definitions\/","title":{"rendered":"Other Definitions"},"content":{"rendered":"\n

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Corporate governance has also been defined as “a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks which may stem from the misdeeds of corporate officers.”<\/span><\/p>\n

In contemporary business corporations, the main external stakeholder groups are shareholders, debt holders, trade creditors, suppliers, customers, and communities affected by the corporation’s activities. Internal stakeholders are the board of directors, executives, and other employees.<\/p>\n

Much of the contemporary interest in corporate governance is concerned with mitigation of the conflicts of interests between stakeholders. Ways of mitigating or preventing these conflicts of interests include the processes, customs, policies, laws, and institutions which have an impact on the way a company is controlled. An important theme of governance is the nature and extent of corporate accountability.<\/p>\n

The corporate governance framework consists of the following:<\/p>\n