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What is Corporate Governance?

Corporate governance is "the system by which companies are directed and controlled" (Cadbury Committee, 1992). Worldwide, the definition of corporate governance may include regional nuances, but corporate governance in Canada involves regulatory and market mechanisms, and reconciling the roles and relationships between numerous corporate stakeholders within an organization and the governance goals within a corporation.

Internal governance stakeholders include:

    • Company management
    • Executives
    • Board of Directors
    • Shareholders and other corporate stakeholders
    • Employees

External governance stakeholders include:

    • Shareholders
    • Debtholders
    • Trade creditors
    • Suppliers, customers and communities affected by a corporation's activities

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