Corporate governance is the collection of mechanisms, processes and relations used by various parties to control and to operate corporations. Governance structures and principles identify the distribution of rights and responsibilities among the board of directors, managers, shareholders, creditors, auditors, regulators, and other stakeholders, and include the rules and procedures for making decisions in corporate affairs. It includes the processes through which corporations’ objectives are set and pursued in the context of the social, regulatory and market environment. These include monitoring the actions, policies, practices and decisions of corporations, their agents and affected stakeholders. Corporate governance practices are attempts to align the interests of stakeholders.