In the Corporate Governance framework-shareholders´ level of satisfaction in Pakistan

Corporate Governance is commonly Referred to as a system by which organizations are directed and controlled it is also a process by which company objectives are established, achieved and monitored so, it is concerned with the relationships and responsibilities between the board, management and other relevant stake holders within a legal and regulatory framework. The objective of this research is to investigate the level of satisfaction of shareholders in a stratified random sample within the following areas of corporate governance framework from Pakistan: Voting rights of shareholders Dividend policy for shareholders Disclosure & transparency in matters regarding financial performance Effective board members structure of the company To represent Pakistan survey has been conducted from a stratified random sample of shareholders of Karachi stock exchange because the Karachi Stock Exchange or KSE was founded in 1947, and it is Pakistan´s largest and oldest stock exchange, with many Pakistani as well as overseas listings. As on December 31, 2008, 653 companies were listed. It was declared the “Best Performing Stock Market of the World for the year 2002”. Similarly the US newspaper, USA Today, termed Karachi Stock Exchange as one of the best performing bourses in the world, for statistical analysis SPSS has been used and it is concluded that most of the shareholders are moderately satisfied with the selected corporate governance practices framework.