Can international standards be determined and set for corporate governance standards?
Corporate governance is the mechanism by which a corporation seeks to comply with codes, ethics and commercial morality, which it regards as certainly important but also necessary, in order to satisfy the requirement of both its shareholders and stakeholders. Stakeholders will include employees, customers, suppliers and any other interest groups the company believes are important and conducive to reputation and good standing of the enterprise. Although there are benchmarks and standard corporate governance models, the mode of operation of corporate governance differs from corporation to corporation. It will in part depend on the conduct and interpersonal relationships between the board of directors. Setting international standards will, at minimum, change this hypothesis, bringing an international standard to corporate governance, desirable or otherwise. It may satisfy what may be described as the Global Fortune 500 but whether such a concept can reach beyond that must be a matter of c
