Corporate Governance: Significance And Global Principles

Niraj Kumar Seth, MNLU Mumbai

ABSTRACT

The article provides a brief overview on the concept of corporate governance and traces its origin in agency relationship that defines the corporate structure. It further sheds light on multi-faceted importance of corporate governance and its need for corporate survival and success. It breaks down the concept of corporate governance into its 3 basic components of disclosure, transparency and accountability. It elucidates upon the globally accepted principles on corporate governance, as laid down by Organisation of Economic Cooperation and Development (OECD). The objective of the research is to highlight the significance and constituents of, and global consensus on the concept of corporate governance.

Keywords: Corporate, Governance, Companies, OECD, Law