Corporate Governance and Legal Accountability: A Critical Review of Global Practices

Abstract

To ensure that businesses act honestly, openly, and for the benefit of their stakeholders, good corporate governance and legal responsibility are essential components of long-term success. Analyses the ways in which various regulatory frameworks and legal systems influence the actions of corporations throughout the world. ways in which different kinds of governance foster responsibility, accountability, and anti-corruption efforts. The article emphasizes the difficulties and triumphs of establishing strong governance systems by comparing practises in established and emerging economies. Also covered is how OECD Principles of Corporate Governance and other international standards work to bring different countries' practices into line with one another. While there has been a lot of success in creating frameworks for governance, the results show that there are still gaps when it comes to enforcement and compliance, especially in developing economies. lastly makes suggestions for better corporate responsibility and legal accountability, stressing the importance of more integrated global governance norms, more transparency, and stronger enforcement measures.