Which of the following is a key principle of corporate governance?

A key principle of corporate governance is ensuring compliance with legal requirements and ethical standards. This principle underscores the responsibility of a corporation to conduct its operations within the framework of laws and regulations while also adhering to ethical norms. Corporate governance aims to establish a structure for accountability, transparency, and fairness in a company's relationships with its stakeholders, including shareholders, employees, customers, and the community at large.

By prioritizing legal compliance and ethical conduct, corporations can foster trust and maintain a positive reputation in the market, which is crucial for long-term sustainability and success. This foundational principle provides a framework that enhances decision-making processes and promotes the organization's accountability.

In contrast, the other options focus on short-term gains, operational secrecy, and limited communication with stakeholders, which could lead to a lack of transparency and increased risk of unethical practices. These approaches are contrary to the very essence of effective corporate governance, which values stakeholder engagement and long-term value creation over fleeting profits or secrecy.