Corporate governance is the set of processes, customs, policies, laws, and institutions affecting the way a corporation is directed, administered or controlled. Corporate governance also includes the relationships among the many stakeholders involved and the goals for which the corporation is governed. The principal stakeholders are the shareholders/members, management, and the board of directors. Other stakeholders include employees, customers, creditors, suppliers, regulators, and the community at large. Fairness, transparency, accountability and Impeccable Corporate Governance are of utmost importance for stability, profitability, and growth of the business for any organization. The importance of such corporate governance has now become more intensified, owing to ever-growing competition and rivalry in the businesses of almost all economic sectors, both at the national and international levels. The Board Structure and Top Management are directly and exclusively responsible for such governance. For these purposes, the top management of must have flawless and effective control over all affairs of the organization, regular monitoring of all business activities and transactions, proper care and concern for the interest and benefits of the shareholders, and strict compliances to regulatory and governmental bodies. Since it is dynamic and frontline subject in the academic and industry, this paper tries to reveal recent changes in the corporate governance and its impact.
Keywords: Transparency, Corporate governance.
 Asst.Professor, KIIMS, Cuttack