Corporate governance refers to the structures, processes, and practices that are established, developed, and employed to supervise the actions of corporate executives, to decide on the strategic directions of corporate entities, and to comply with corporate governance standards, laws, and regulations. This definition presents just one of many descriptions of the term. Corporate governance is given distinctive meanings depending on the philosophical perspectives on the conception and purpose of the corporation, the academic disciplines that study the phenomenon, the specific institutions that advise on or advocate general principles of corporate governance, and the particular institutional contexts that prescribe its regulatory/legal frameworks. For example, the shareholder perspective in corporate governance focuses on the protection of shareholders’ rights and control of their financial interests in corporations. The ...