Corporate Governance and its Global Trends: Need to formulate Effective Strategies for Sustainable Economic Growth of Pakistan

Abstract

This paper is signifying the importance of corporate governance for sustainable economic growth of a country. During last two decades, a remarkable transition has been witnessed in corporate sector at national and global level. Major corporate scandals in the world happened due to poor corporate structure, ineffective legal framework, lacking impactful strategies and policies and ignoring the principles of transparency and accountability. Pakistan is not an exception to these failures. After learning the lesson from the past, the corporate sector has modified its behavior worldwide. Major global economies are trying to adopt sustainable trends for governing their corporations by adopting the core values of good governance, management, transparency, corporate social responsibility, accountability, and ethical considerations. Through this research, an effort has been made to build an understanding about corporate governance in the nexus of Sustainable Development Goals (SDGs) after discussing the events of corporate failure in the world. Qualitative research methodology with analytical and exploratory approaches has been used while doing this work. Valuable information and relevant data has been collected from secondary sources. The research is significant for the reason of proposing effective strategies which are needed to be adopted by the corporate sector to attain a sustainable approach towards better future of the nations particularly the Pakistan.

Keywords: Refugees, immigrants, asylum, Pakistan, Afghanistan, protection, International Law, United Nation High Commission for Refugees (UNHCR)