CORPORATE GOVERNANCE AN OVER VIEW

Abstract

Starting from time immemorial corporate governance has been of importance not only as a topic of study but for its impact on the corporate per se, and the economy of the domain they operate in. The paper defines the word ‘Corporate Governance’ elucidating on its connotation and modern day denotations. It also analyses the history and development of the concept of corporate governance over the centuries. Corporate being a collective body of like-minded individuals to invest in economic activities it is governed by its own rules and also by the law of the land.  The concept of governance per se, is for the protection of the interest of the stakeholders. The agency, stewardship, stakeholder, resource, ethical theories are witness to the evolution of this concept. In India corporate governance receives its due importance. Laws concerning minority rights, inside trading and many other controls are in position. The paper also discusses the impact of corruption including the attitudinal corruption and politically motivated interventions on the corporate governance. Its manifestation in various forms is a big deterrent on the development of the economic activities specially in the developing economies.