Research Study On Audit Committee & Board Committee
in PEs– By IPE, Hyderabad (2012)
Corporate governance is an organizational movement to enhance wealth creation by transforming corporations into more democratic entities through shareholder activism and increased participation by Board members and senior management in decision making and accountability. Yet a precise definition of corporate governance is very difficult and there are different views to what the concept means. The most comprehensive and well accepted is the following definition from the OECD (OECD Principles of Corporate Governance,1999): “Corporate governance is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set, and the means of attaining those objectives and monitoring performance.
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