A Comparative Study on Corporate Governance in Public and Private Sectors: Emerging Trends, Digital Transformation, and Future Regulatory Landscapes
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Abstract
This study comparatively analyzes corporate governance in public and private sectors, focusing on emerging trends, digital transformation, and evolving regulatory landscapes. Drawing on agency, stewardship, and stakeholder theories, it addresses how governance principles diverge between sectors, with public entities prioritizing public welfare and private firms emphasizing shareholder value, despite shared challenges like digital maturity and regulatory fragmentation. The research identifies key trends, including the impact of AI, cybersecurity risks, and ESG factors, shaping modern governance. A comprehensive literature review and gap analysis pinpoint the need for sector-specific digital maturity benchmarks, integrated performance metrics, and enhanced regulatory harmonization. The study proposes suggestions for strengthening governance, emphasizing unified digital standards, board competency, and stakeholder-centric metrics. It concludes with managerial, societal, and research implications, advocating for adaptive frameworks and interdisciplinary collaboration to foster robust, transparent, and sustainable governance across both sectors in the digital era.