Good Corporate Governance: Towards Greater Effectiveness

Abstract

company owes to its stake-holders. It is both a moral and legal imperative. A new regulatory framework emerging all over the world, in measure, large or small, makes it obligatory for the companies to subserve their stakeholders. Time has gone when promoters could presume that the company was only theirs, even to the detriment of the stakeholders. The focus has now shifted from the owners to shareholders and other interested parties of the company. This fundamental shift of last few years is rapidly becoming more pronounced day after day.