Title: A Study of Corporate Governance Practices in Companies Across Countries with a view to Identify Measures for Good Corporate Governance In India
Abstract: Corporate Governance (CG) has become the area of increasing focus for corporations the world over on account of various reasons that include corporate scandals, increased need for trust by stakeholders in corporate management as well as the ever increasing role of corporations in world economy. Corporate governance aims to bring together the need to maximize long term stakeholder value in a sustainable manner with ethical business practices. Though the term 'Corporate governance' refers to various aspects of corporate functioning, at the core of good corporate governance are high ethical standards that are often demonstrated through high standards of integrity and openness as well as greater transparency and accountability in the decision making process. These being important aspects for corporate functioning all over the world for all times to come, it is in the specific details that corporate governance requirements and practices differ in different parts of the world. This paper reviews the need for improved corporate governance in India and examines ongoing trends in corporate governance in different parts of the world, particularly USA and Europe. It examines the impact of good governance on market value and operating performance besides reviewing various initiatives aimed at improving corporate governance across the globe, with a focus on the CII initiative in India. The paper discusses CII's desirable code of corporate governance followed by the areas for increased attention as regards perception of corporate governance practices in India before making recommendations on the need to have a combination of legal and voluntary
Publication Year: 2007
Publication Date: 2007-01-01
Language: en
Type: article
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Cited By Count: 1
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