"'Corporate Governance' is not a legal term. It describes the rules and practices put in place within a company to deal with the relationships between the board of directors, the management and the shareholders and other stakeholders." Lipton, Herzberg and Welsh, 400.

"Good corporate governance will reassure shareholders and other stakeholders that their rights are protected and makes it possible for corporations to decrease the cost of capital and to facilitate their access to the capital market." G20/OECD, 2015.

Required: With reference to the knowledge you have acquired during this course and from the completion of your assignment, discuss these statements. In your answer, refer to examples of poor corporate governance to illustrate your points. Describe in details.