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- is the set of processes, customs, policies, laws, and institutions
affecting the way a corporation (or company) is directed, administered or controlled
CorporateGovernanceDefinition.net
- is an internal system that encompasses polices, processes, people,
and which makes sure the needs of shareholders and other stakeholders are met in full. This will be accomplished by directing and controlling managing activities using good business practices, objectivity, accountability and, of course, integrity. Effective corporate governance relies on certain laws to be passed, as well as a certain commitment from the marketplace, and also a healthy board culture, as this will make sure policies and processes remain constant.
Agency Theory
What Does Agency Theory Mean?
A theory concerning the relationship between a principal (shareholder) and an agent of the principal (company's managers).
Stakeholder Theory
the theory an organization to shareholders without stakeholders such as wider community that it is possible for promote the interests of its harming the interests of its other its employees, suppliers and the
Shareholders are stakeholders in a corporation, but stakeholders are not always shareholders. A shareholder owns part of a company through stock ownership, while a stakeholder is interested in the performance of a company for reasons other than just stock appreciation.
http://www.investopedia.com/ask/answers/08/difference-between-a-shareholder-and-a-stakeholder.asp
Stewardship Theory
This theory is an alternative view of agency theory, in which managers are assumed to act in their own self interests at the expense of shareholders. In American politics, the Stewardship theory is where a president practices a governing style based on belief they have the duty to do whatever is necessary in national interest, unless prohibited by the United States Constitution.
http://dictionary.sensagent.com/stewardship+theory/en-en/