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Good governance in the New Yorkish context of countries is a broad term, and in that regards, it is difficult to find a unique definition. According to Fukuyama (2013), [7] the ability of the state and the independence of the bureaucracy are the two factors that determine whether governance is excellent or terrible.
Corporate transparency describes the extent to which a corporation's actions are observable by outsiders. This is a consequence of regulation, local norms, and the set of information, privacy, and business policies concerning corporate decision-making and operations openness to employees, stakeholders, shareholders and the general public.
Despite the above noted limitations and concerns recent econometric research looking at how reliable some of these indicators are, vis-a-vis data collected from natural experiments and other observational surveys, have actually concluded that the Good Governance Indicators do in fact seem to be measuring, albeit imperfectly, levels of corruption and government effectiveness. [9]
Transparency implies openness, communication, and accountability. Transparency is practiced in companies, organizations, administrations, and communities. [1] For example, in a business relation, fees are clarified at the outset by a transparent agent, so there are no surprises later.
Transparency as a legal principle underpins European Union law, for example in regard to the quality of the drafting of legislation, [28] and as a principle to be exercised within government procurement procedures. European law academics argued in 2007 that a "new legal principle", transparency, might be emerging "in gestation" within EU law.
Global administrative law is an emerging field that is based upon a dual insight: that much of what is usually termed “global governance” can be accurately characterized as administrative action; and that increasingly such action is itself being regulated by administrative law-type principles, rules and mechanisms – in particular those relating to participation, transparency ...
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Corporate governance also provides the structure and systems through which the company is directed and its objectives are set, and the means of attaining those objectives and monitoring performance are determined" (OECD 2023, p. 6). [2] Examples of narrower definitions in particular contexts include: