Overview.
The report of the World Bank on corporate governance is a landmark when we trace the evolution of the theory of corporate governance. It can trace the complicity of the concept of corporate governance from the report of the world bank, therefore, the corporate governance base on the sets of principle such as fairness, accountability, transparency and responsibility and this principle universally apply. The government structure will be stronger and sound if there is a good partnership between the public and private sector. The emphasis of the report is that to win the initiatives of corporate governance the efforts should be driven from the bottom rather than from the top management.
The balance of the social and economic goals and the goal of community and individual is maintained by corporate governance. The structures governance policies help inefficient utilization of resource and to maintain accountability for the stewardship of those resources the aim and aim of corporate governance lies on to perspective to protect the individual in a narrow sense and society’s interest in the broader sense. It points the report of World Bank in such a way to develop a trust and for the encouragement of enterprise; the report is the milestone for the development of corporate governance.
The disclosure is the foundation of corporate governance the corporate aims of the bank and to attract the investment can achieve if there are the proper incentive of corporate governance policies which equally apply to all over the world i.e., to bring the public confidence openness is the foundation to strengthen the corporate.