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SOME ISSUES IN OWNERSHIP STRUCTURE AND CORPORATE GOVERNANCE

K.A. Darshana Lakmal

DOI: 10.22495/rgcv4i3c1art6

Abstract

Corporate governance is a process that aims to allocate corporate resources in a manner that maximizes value for all stakeholders — shareholders, investors, employees, customers, suppliers, environment and the community at large and holds those at the helms to account by evaluating their decisions on transparency, inclusivity, equity and responsibility. Corporate governance has been commonly defined as the rules and procedures in place for governing an organization. It is the set of processes, customs, policies, laws, and institutions affecting the way a corporation (or company) is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. Corporate governance principles and codes have been developed in different countries and issued from stock exchanges, corporations, institutional investors, or associations (institutes) of directors and managers with the support of governments and international organizations. As a rule, compliance with these governance recommendations is not mandated by law, although the codes linked to stock exchange listing requirements may have a coercive effect. However, given the rapid developments within the field and the increasing prominence of corporate governance in the modern world, this definition may be considered too narrow. Corporate governance, while a topic that has been examined in considerable depth in many areas, is widely applicable to a vast array of topics and issues. This study contributes to the literature by extending the mainly based on board literature to where there are important institutional differences and issues in ownership structure and corporate governance system and seeks to address new and emerging issues which have yet to be closely examined and have, to a degree, been overlooked.

Keywords: Corporate Governance, Ownership Structure, Emerging Market Introduction

How to cite this paper: Lakmal, K.A.D. (2014). Some issues in ownership structure and corporate governance. Risk governance & control: financial markets & institutions, 4(3,1), 131-136. doi:10.22495/rgcv4i3c1art6

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