Corporate governance (CG) is an exciting area, which is developing fast to meet the needs of a changing business environment. Investor expectations are more demanding than ever before, and the cost to companies that ignore the benefits of good CG can be high. Alongside this, there has been an increasing emphasis on corporate social responsibility (CSR) and the need for companies to be accountable to wider stakeholder interests and to the society in which they operate. CG has various aspects, including corporate finance, human resources management (HRM) and customer relationship. The aspects of corporate governance may be complementary to each other, i.e. corporate financing and HRM, corporate financing and customer relationship.
CG is a field in economics that investigates how to secure/motivate efficient management of corporations by the use of incentive mechanisms, such as contracts, organizational designs and legislation.
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