Corporate Governance

Institute of Company Secretaries of India -
"Corporate Governance is the application of Best Management Practices, Compliance of Laws in true letter and spirit and adherence to ethical standards for effective management and distribution of wealth and discharge of social responsibility for sustainable development of all stakeholders."
Standard and Poor - "Corporate Governance is the way a company is organized and managed to ensure that all financial stakeholders receive a fair share of the company's earnings and assets."
Objectives of Corporate Governance: -
Corporate Governance is aimed at creating an organization which maximizes the wealth of shareholders. It envisages an organization in which emphasis is laid on fulfilling the social responsibilities towards the stakeholders in addition to the earning of profits.