Definition Of Corporate Governance And Regulation

it might be said: I Introduction The primary problem with the current approach to regulation in Australia is that it predominantly links corporate interests to those of the shareholders, with little or no consideration given to the employees, the community, consumers and other stakeholders. This essay will explore the concepts of corporate governance and regulation and then critique the hard law, soft law and hybrid approaches to regulation. An explanation will then be provided as to why the hybrid approach remains the most appropriate regulation mechanism, followed by an explanation of the hybrid solution identified to get corporations to consider the interests of key stakeholders. II Discussion A Defining ‘corporate governance’ and ‘regulation’ Over the past few decades the term ‘corporate governance’ has become quite commonplace, with considerable debate arising as to the intersection between ‘corporate governance’ and ‘regulation. The scope and content of corporate governance in and of itself is quite wide, capturing ‘the structures, processes and systems, both formal and informal, by which power is exercised, constrained, monitored and accounted for in the management of a corporation’. Similarly, the definitions provided of regulation in literature are broad-ranging, but they ultimately highlight the role of regulation in controlling corporate conduct. Nonetheless, it should be noted that these mechanisms of control are not limited to legislation, administrativeShow MoreRelatedCorporate Governance General Review1775 Words   |  7 PagesFirst part: Corporate governance: First Chapter: Corporate governance general review 1. Introduction A dynamic and fundamental view of business nowadays is presented in corporate governance. As a term, governance comes from a Latin word gubernar means to guide; describing the main purpose of modern governance which is guiding relations between different counterparties. 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