society based on common morals. Every society needs governance for common good because in common good depends the progress of individual and society. That means governance is a direct need of individual and society. Governance doesn’t mean the forceful imposition of law but it means the systematic way of working that includes implementation of rules and regulations with a sense of moral responsibility. Meaning of Governance- in a general sense Governance means to guide or govern someone in a particular
What is ‘Governance’? The concept of "governance" as old as human civilization. But recently the scope and the meaning of the term have been much expanded. . The first definition is exclusively related to the Exercise of political power to deal with the nation’s affairs. The Focal point of the second definition is the use of power in the Management of a state’s social and economic resources for Development. To sum up governs is a process of decision making and the Procedures by which decisions implemented
The corporate governance is one of the major and important parts of any company law in the world. It is a system which determines the method and process of managing the company. The good corporate governance not only helps with the growth of the company but it also maintains transparency. Transparency gives confidence to the domestic investors as well as other international institutional investors. International institutional investors are the major players in the securities market. The market integrity
Devisingh Patil, developed and developing countries “… need strong institutions and good governance [to protect its citizens and fuel a successful nation state]” (Singh 10). As a concept, “good governance” has weaved itself into the common vernacular of society development. Although it remains vague in its definition, “good governance” has proved to be essential in the prosperity of a country. In various definitions the concept can veritably be condensed to three key positions. The first of which is accountability;
Governance in health care and particularly health financing has been an object of interest in the last decades (4,6,7,12). Many different approaches have been taken to achieve UHC, from capacity building to establishing new payment mechanisms. Recently, international attention has shifted from central issues, like how countries can achieve UHC and improve access to health care services, towards how the health sector is governed. This means that the emphasis shifted to the identification of factors
CORPORATE GOVERNANCE: THE ROLE OF INDEPENDENT DIRECTORS – ISSUES AND CHALLENGES AKSHAT PARASKUMAR GANDHI SYMBIOSIS INSTITUTE OF TECHNOLOGY, PUNE 411042-LAVALE, PUNE E-mail: akshat.gandhi@sitpune.edu.in Contact: +91 88888 20195 ABSTRACT- The concept of Independent director has been originated to drive companies towards inculcating the concept of corporate governance in their management. Independent director of the firm plays a vital role in good going of the
The current literature of urban governance is dominated by political, social and economic perspectives (Razaghi 2013, Finger, 2012). Theories related to urban political economy (Peterson 1981; Hill 1984; Vogel 1992), urban democratic theory (Hill 1974, 1994), the role of civil and patterns of political and social cleavages are mostly derived from the study of American cities. They do not conceptualize or explain aspects of urban politics in other parts of the world (see, e.g., DiGaetano and Klemanski
What is Corporate Governance? Since 1997 Asia financial storm, corporate governance is a most important in international institutions, Organization for Economic Co-operation and Development (OECD) first proposed on corporate governance. In a United States, the audit committee is stressed, China also gradually set independent Director and the corporate governance, Hong Kong Exchange and Clearing Ltd (HKEX) also has launched on 2005, required all listed company at least to review a internal control
in the region. It also increased awareness about issues concerning the role and functions of regulators and the need for improved disclosure and good corporate governance. Meanwhile there were many public listed companies adopted relatively high-levels of corporate abuse and in some cases breakdown, attributable in part of effective corporate governance structures. Poor financial management of directors and related party transaction are one of the corporate abuse that existed. This problems got more
Bankers’, Enron Corporation, WorldCom incorporated failure and a good number of other corporate financial scandals, issues of corporate governance became the focus of public discussion, as poor governance practice was identified as a major contributor to most of the failures. Furthermore, the tragic event of the Russian financial scandal and Asian financial crisis brought global attention to the crucial roles of good corporate governance practice in ensuring soundness of financial services and financial