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The fundamental aim of corporate governance is to align the long term goal of all the valuable stakeholders, which is the key of attaining long term success from business. There are multiple reasons for which the companies are putting stress on implementing corporate governance. According to Tricker and Tricker (2015) increasing transparency is one of the major reasons for executing corporate governance in the operation. In order to keep the stakeholders regarding any kind of business related decisions, the companies are putting stress on increasing transparency. This is the way of implementing the regulatory framework in a cost effective manner. Preventing the marketing shock is another major cause of integrating corporate governance in the operation.
It is the general tendency of the companies to use aggressive accounting method with the intension of undermining the entire economic system and take robust action in order to improve the same. As the rate of bankruptcy is increasing in a rapid manner and resulting in greater uncertainty in the shock market. This is the reason, for which the companies are focusing on implementing corporate governance and thereby implementing a robust framework in order to deal with the uncertainty in the market. Bhagat and Bolton (2019) showed that decreasing the conflict of interest is another vital reason for which, the companies are aiming to implement corporate governance. The inclusion of appropriate governance makes it easy for the management of the firms to decrease the conflict of interest by aligning all the staffs in a single platform.
Bhagat, S. and Bolton, B., 2019. Corporate governance and firm performance: The sequel. Journal of Corporate Finance, 58 (11), pp.142-168.
Tricker, R.B. and Tricker, R.I., 2015. Corporate governance: Principles, policies, and practices. Oxford University Press, USA.
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