Core Attributes of an Effective Corporate Governance System

Companies should have the following core attributes: 

1) Clearly defined rights of shareholders and other core stakeholders.
2) Clearly defined responsibilities of manager and director to stakeholders.
3) Identifiable and measurable accountabilities for the performance of the responsibilities.
4) Fairness and equitable treatment in all dealings between managers, directors, and shareholders.
5) Complete transparency and accuracy in disclosures regarding operations, performance, risk and financial position.