![]() Cadbury Committee (U.K.), 1992 has defined corporate governance as “Corporate governance is the system by which companies are directed and controlled. According to The Institute of Company Secretaries of India, “Corporate Governance is the application of best management practices, compliance or jaw 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”. ![]() Many management scholars have recognized that strong corporate governance is vital to resilient and vibrant capital markets and is an important tool of investor protection.
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