The role of governance in protecting commercial joint-stock companies from financial distress

Abstract

Joint-stock companies are the foundation of commercial and economic activity in any country. They are characterized by a unique management and oversight system designed to ensure their continued existence and viability in the competitive market. This is primarily based on protecting them from financial distress, which necessitates strengthening oversight mechanisms to provide effective governance for these companies, safeguarding them from all abuses and the risks of financial collapse.