Corporate governance theories and issues
Introduction The term ‘Corporate Governance’ was at one time a term used to indicate a slightly touchy-feely set of considerations which were often regarded as optional: being indicative of such loose ideas as ‘best practice’, and other phrases open to multiple interpretations. Since those days, the term has evolved to become much more embedded in corporate consciousness (Catherine, 2009). Corporate governance as a term has no universally accepted meaning, different corporations and scholars defined it in their own views and according to its usage. However, OECD (1999) describes it “as a range of issues relating to the ways in which organizations or companies may be directed and controlled”. Ensuring proper accountability, probity and openness as a core business of corporate governance in an organizations’ business conduct has variety of differing systems and processes of realization. The beginning of the 21 st century witnessed a series of corporate demise arising from manag...