Does Good Corporate Governance lead to Enhanced Business Value? by International Management Institute, Kolkata: 2016

(Executive Summary)

In modern society, the development of a country very much depends on its economic growth and prosperity. In turn, the economic growth rate of any country depends on the size of its capital market. Again, the capital market very much depends on the principles of accountability, fairness, transparency and responsibility of the business organizations. So, vital norms and regulations are required for controlling and overall supervision of the business houses to ensure their financial security. There should be some government laws or statutory bodies to oversee whether the corporate world are following such legal principles or not. It is in this context, that the term 'Corporate Governance' has emerged and also got entry into the vocabulary of both students and practitioners of business. To be more precise, it is due to the advent of Capital Markets and the subsequent dilution in the firms' ownership, that the concept of corporate governance has come into existence and prominence. Thus, it may very well be understood that corporate governance plays a crucial role in shaping the structure and function of an organization and also in setting the vision of the firm.

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