Description

Corporate governance is now meticulously within the public domain, judging from the consideration it receives from the mass media. The governance of companies specially the listed companies is a complex matter. There is good deal of association between the national and extra-national systems, hard and soft laws, reconciliation between the markets and state regulation, and the apparently irreconcilable corporate and social responsibilities. There is still no clear conformity on the intention of corporate governance or the objective of the company. Should the company's major aim to maximize the shareholders' wealth? Should the interests of stakeholders be taken into consideration? and, if so, to what extent? Can there inherently conflicting interests be balanced, and by what mechanisms? This book seeks to provide some insight into corporate governance, including the rules that help promote good and effective corporate governance, with focus on Pakistan. My emphasis is on the relationship between theories and rules which set the groundwork for corporate governance, as well as aspects of corporate governance in the Pakistani context.