Enron: How Public and Private Governance Works In Different Contexts?

We know that Corporate Governance is the central and dynamic aspect of business. The term ‘governance’ derives from the Latin gubernare, meaning ‘to steer’, usually applying to the steering of a ship, which implies that corporate governance involves the function of direction rather than control. We have many ways of defining corporate governance, from narrow definitions that focus on companies and their shareholders, to broader definitions that incorporate the accountability of companies to many other groups of people, or ‘stakeholders’. In my paper, I discuss a the definition of the Corporate Governance in Emerging Markets, but for the purposes of this introduction I use a general definition that corporate governance concerns the way in which companies are directed and controlled.