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It has failed to take to account that companies run on a going concern foundation and will therefore have a long-term approach in operating the corporate. The concept additionally, has a slim view and fails to address other companyâs obligations including; environmental, social, financial, political, authorized and ethical obligations. According to Cadbury Report 1992 and OECD 1999, âCorporate Governance can be defined as the process by which firms are directed and controlledâ. Regulated energy industries, which confronted a welter of individual state-level regulations, also referred to as for federal environmental regulation.
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