Abstract
Corporate governance is understood as a set of mechanisms and institutions which are intended to provide efficient monitoring and control over a firm’s strategy and operation. As offered in the definition G20/by OECD (2015: 3) “good corporate governance is not an end in itself. It is a means to create market confidence and business integrity, which in turn is essential for companies that need access to equity capital for long term investment”. Hence, corporate governance provides structural and procedural fundaments “intended to make sure that the right questions get asked and that checks and balances are in place to make sure that the answers reflect what is best for the creation of long-term sustainable value” (Monks & Minow, 2004: 2). It also however encompasses the less formal aspects of norms and values for accountability, transparency and legitimacy (Monks, 2002) which are the underlying for responsible business conduct.
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Aluchna, M., Idowu, S.O. (2017). Responsible Corporate Governance: An Introduction. In: Aluchna, M., Idowu, S. (eds) Responsible Corporate Governance. CSR, Sustainability, Ethics & Governance. Springer, Cham. https://doi.org/10.1007/978-3-319-55206-4_1
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DOI: https://doi.org/10.1007/978-3-319-55206-4_1
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