Summary
In this section, we learned about the vital role of legal frameworks in corporate governance, highlighting their importance in ensuring transparency, accountability, and protection for stakeholders. Key regulations like the Sarbanes-Oxley Act and the Cadbury Report establish standards for corporate behavior, enhancing trust and investor confidence. International standards, such as the OECD Principles and Basel Accords, provide benchmarks for ethical practices globally. In emerging markets, unique challenges persist, including regulatory gaps and cultural differences, but reforms are underway to strengthen governance. International organizations support these efforts, fostering improved governance frameworks and sustainable economic growth.