Prologue
What Is Governance?
There are various definitions of corporate governance. The definition depends on the particular situation of each business, suggesting firms may use different governance structures based on the size of the firm and whether the firm is publicly or privately held (Huse and Landström 2002).
Corporate governance involves a set of relationships between a company’s management, its board, its shareholders, and other stakeholders. Corporate governance also provides the structure through which the objectives of the company are set, and the means of attaining those objectives and monitoring performance are determined. Good corporate governance should provide proper incentives for the board and management to pursue objectives ...
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