CORPORATE GOVERNANCE is the system by which business corporations are directed and controlled. The corporate governance structure specifies the distribution of rights and responsibilities among different participants in the corporation, such as, the board, managers, shareholders and other stakeholders, and spells out the rules and procedures for making decisions on corporate affairs. By doing this, it also provides the structure through which the company objectives are set, and the means of attaining those objectives and monitoring performance.
DISOUNT FOR LACK OF MARKETABILITY is an amount or percentage deducted from the value of an ownership interest to reflect the relative absence of marketability.
REPORTING ENTITY is the legal entity for which financial reports are prepared and made available.
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