What is the purpose of corporate governance?

Corporate governance is a system of rules and regulations that guide how a business is run and how it interacts with its shareholders, stakeholders, and other businesses. These regulations help ensure that the business is acting in the best interests of all parties involved. The purpose of corporate governance is to provide a set of guidelines that protect the interest of shareholders, ensure transparency, and promote ethical business practices. Corporate governance also seeks to ensure that businesses comply with any applicable laws. Good corporate governance can also protect the company from potential liabilities. In Hawaii, corporate governance is regulated by the Department of Business, Economic Development, and Tourism. The department works with businesses to ensure that they are in compliance with state law and that they are adhering to best practices in corporate governance. The goal of corporate governance in Hawaii is to create an environment that encourages responsible business practices and creates a level playing field for all businesses, regardless of size. Good corporate governance should help businesses operate more efficiently, increase profits, and help to protect the interests of shareholders. In addition, good corporate governance should help to ensure that businesses are providing fair and equitable treatment to their employees, customers, and stakeholders.

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