CORPORATE GOVERNANCE REFORMS: BEST PRACTICES & REGULATORY FRAMEWORKS

Abstract

Corporate governance has emerged as a cornerstone of modern corporate practice, ensuring transparency, accountability, and sustainable value creation in an increasingly complex global environment. This paper critically examines corporate governance reforms by analysing theoretical foundations, global models, and regulatory frameworks while identifying best practices and challenges in implementation. It highlights the pivotal role of independent boards, transparent disclosures, fair executive compensation, whistleblower protections, and digital governance in strengthening oversight and ethical conduct. Comparative analysis across the U.S., U.K., EU, and India demonstrate both convergence toward global standards and the persistence of contextual variations shaped by institutional realities. Despite advancements, barriers such as weak enforcement, cultural resistance, and regulatory arbitrage hinder the effectiveness of reforms. The paper further emphasizes the growing integration of Environmental, Social, and Governance (ESG) principles, technological innovations such as blockchain and AI, and the shift toward stakeholder-inclusive governance models. By exploring future directions, it argues for a balance between global harmonization and local adaptation, stressing the need for resilience, inclusivity, and ethical orientation in governance systems