In today’s world companies are increasingly becoming attentive to the very fact that they cannot operate in isolation and wish not specialise in their shareholders alone but even have regard of the broader stakeholder constituency. Therefore, the stakeholder theory is coming more into play. Stakeholder advocates argue, that companies should recognise responsibility of all those littered with its decisions including customers, suppliers, employees, bankers, shareholders, and broader societal interests for the environment and also the state. With the event of monetary markets and intermediaries, investor involvement has intensified. Thereupon trend has come an intense demand from investors for top standards of Corporate Governance to make sure that capital is employed efficiently and effectively, and produces good returns. Poor Corporate Governance increases market volatility through lack of transparency and by giving insiders the sting on information critical to plug integrity and fair trading. Investors and analysts have neither the flexibility nor the inducement to research firms but they require company boards to create decisions that are barren of conflicts of interest. Investors and analysts, today, insist that enforcement has the required authority, resources, and credibility to act expeditiously and effectively. It’s felt that only with better Corporate Governance rules and practices can higher levels of investor trust and confidence be achieved and this successively will cause more robust economic development. Corporate Governance may be a relatively new area and its development has been littered with the above theories and is additionally influenced by variety disciplines, including finance, economics, accounting, law, management and organisational behaviour. In the global context Corporate Governance may be a complex area that has cultural, ownership and structural differences. The importance of excellent Corporate Governance is now recognised by investors and regulators. Corporate Governance now affects global finance markets. But, in spite of this, the theoretical underpinnings of the topic are weak. The most drawback lies within the indisputable fact that the topic lacks a conceptual framework that adequately reflects the truth of Corporate Governance. Corporate Governance codes that are good in several countries round the world reflect only the traditional wisdom of best practice in listed firms.

Keywords: Family Business, Policies, Related Party, Vigil Mechanism, Capital Structure, Independent.