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According to Corporate governance is a term that refers broadly to the rules, processes, or laws by which businesses are operated, regulated, and controlled. The term can refer to internal factors defined by the officers, stockholders or constitution of a corporation, as well as to external forces (external governance) such as consumer groups, clients, and government regulations. A well-defined and enforced corporate governance provides a structure that, at least in theory, works for the benefit of everyone concerned by ensuring that the enterprise adheres to accepted ethical standards and best practices as well as to formal laws. To that end, organizations have been formed at the regional, national and global levels.

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โˆ™ 2006-04-09 14:09:50
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Q: What is external governance?
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I'm not sure that I completely understand your question, but let's see if I can help. Corporate governance, as you know, is the way in which a company is managed or overseen, including policies, law, institutions and the key players (such as the board of directors, stock holders and so on). There are essentially two types of corporate governance, internal and external. They're basically control mechanisms. Internal governance is the process of managing, accomplishing goals and influencing decision making from within an oraganization, while external refers to the power that outside shareholders or influences have or can exercise over a company. External governances in the Far East would for the most part be the same as anywhere else, takeovers, regulations, competition, etc. There are many emerging markets in the Far East, which would influence corporate governance (new laws, government incentives, higher barriers to entry to ward off competition).

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