Corporate Governance and Social Responsibility: The Case of Nepal

No incorporated body operates in vacuum rather it operates in the society. The structure of corporate body consists of Board of Directors, Management Committee, Audit Committee, various Committees and Sub-Committees prescribed under the provision of legal system. It makes effort to realize its objectives through good governance, control system and transparency etc. It avoids any form of conflict of interest between ownership and control. Moreover, corporate social responsibility is the one important dimensions of corporate governance, which serves for the benefit of internal stakeholders, external stakeholders and the society as whole. Only the maximization of profit is not a goal of the incorporated body rather it has to support various sector as per their capacity and financial resources of the incorporated body. Conversely, corporate social responsibility shouldn’t be guided by vested interest of misappropriation of the fund. Yet, COVID-19 scenario has invoked new horizon of necessity of corporate social responsibilities.