Corporate Governance

Corporate Governance is "the system by which companies are directed and controlled". It involves regulatory and market mechanisms, and the roles and relationships between a company’s management, its board, its shareholders and other stakeholders, and the goals for which the corporation is governed. Lately, corporate governance has been comprehensively defined as "a system of law and sound approaches by which corporations are directed and controlled focusing on the internal and external corporate structures with the intention of monitoring the actions of management and directors and thereby mitigating agency risks stemming from the devious deeds of these corporate officers".

Reference :

http://en.wikipedia.org/wiki/Corporate_governance
http://www.sc.com.my/main.asp?pageid=1088&menuid=332&newsid=&linkid=&type=S