ABSTRACT

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The purpose of corporate governance is to ensure the sustainable development of enterprises, to facilitate scientific decision-making and unify efficiency with equity in governance. In the process of governance, we need to take social and environmental concerns into consideration, as well as the organizational relationship of the board of directors with administrative staff, investors, and institutional investors(Tureac et al .,2010). Due to different economic systems, historical traditions, market environment, legal concepts and other conditions, the patterns of national corporate governance varies. The requirements of variant corporate governance and economic development strategies are not the same in terms of state laws, finance, tax, banking, etc. Other facets like cultures, traditions, social ideology, and legal system require the formation of corporate governance models to fit the level of the country’s economy and future development models (Warhurst, 2005).