Corporate governance has attracted attention of a number of people due to its emerging importance for a proper economic development of corporations and the society in general. According to Trevino, Weaver and Toffler (1999) what has been seen as a practice within the corporation in the last two decades showed a sad tale of corporate ethics. In a number of times corporation managers or the CEO usually work together with stakeholders to protect each other interest in the corporation, a practice which has made a lot of investors to pull out their investments from such corporation.

However, corporate governance can be defined as a method in which the corporations are usually being directed and controlled. Its framework highlights how the rights and duties are distributed equally among various participants in the corporation, such as managers of the company, the board members, shareholders and it also highlights ways and procedures which...
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