Dissertation On Corporate Governance In India


Reference:

Vora, Mital B. (2005) A study of Corporate Governance Practices of Corporate Sector in India. PhD thesis, Saurashtra University.

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Abstract

Dynamic environment has put forth many challenges for today’s human being; even a common person wants to prove him or herself with the greatest efficiency in present era. Competition is multiplying every day and that has given birth to number of good or bad aspects. Some want to survive in Cutthroat competition by applying unethical practices, while some wants to enjoy healthy competition through ethical and transparent activities. The reaction of both the aspects are obviously, represent in their action positive for the positive action and negative for negative actions. Good governance is the expectations of every stakeholder, specially, shareholder. Governance is related with the controlling of the activity and controlling of the corporate sector can be termed as corporate governance. But the implementation of ‘Corporate Governance’ is not that much simple as its meaning. It is very wide subject and it includes lot of discussion. No doubt corporate governance is recently emerged concept and has taken the attention of each and every country, investors and corporate executives. Corporate governance is the practice, which requires transparency, accountability and good performance from the corporate executives. It has, its strong base from the internal management of company, to the shareholders’ value as well as corporate social responsibility. Reasons for selecting corporate level units which are functioning in India is to find out whether corporate governance is actually being practiced by the corporate level executives or not.

Item Type Thesis (PhD)
Item ID68
CreatorsVora, Mital B.
GuideGohil, Daxa C.
KeywordsCorporate Governance, Commerce
Dewey Decimal Subjects300 Social sciences > 380 Commerce, communications & transportation > 381 Commerce
Library of Congress SubjectsH Social Sciences > HF Commerce
DepartmentFaculties > Commerce > Department of Commerce
Affiliation withSaurashtra University
Qualification LevelDoctoral
LanguageEnglish
Number of Pages550
DateMay 2005
Unique IDNot Available
Registration NoNot Available
Depositing UserRepository Staff
Date Deposited22 Dec 2011 06:45
Last Modified18 Jan 2012 03:58
URI:http://etheses.saurashtrauniversity.edu/id/eprint/68

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INVESTOR PROTECTION AND CORPORATE GOVERNANCE: THE NEED FOR SHAREHOLDER ACTIVISM

Corporate Governance Dissertation Page 1

CHAPTER I:INTRODUCTION

Corporate Governance entails conducting the affairs of the companies in such a manner thatthe corporate entity is accountable and fairness would be assured to all the stakeholders. Itmay be defined as a set of systems, processes and principles which ensure that a company isgoverned in the best interest of all stakeholders. The elements of good corporate governanceinclude maintenance of transparency, accountability, disclosures, compliance with the legal

framework, shareholder‟s

value, etc. The legal and regulatory framework of corporate governance should aim at protection of investors. Since maintenance of transparency in dealings of the company is the mostimportant facet of corporate governance in India, the same shall be ensured in order toprovide a mechanism for protection of the investors. The need to protect the investors arisesbecause the companies indulge in unfair trade practices and corporate frauds. When suchcorporate frauds are committed, the investors are the class of stake holders who are mostadversely affected. The companies shall also consider that in case they go beyond thecorporate governance norms, the confidence of the shareholders in the company would beinstilled; which is indirectly beneficial for the company. Hence, the corporate governancemechanism shall be viewed as a mode by which the companies can gain the confidence of the shareholders. The need for making adequate disclosures rises because only adequate disclosures enable theshareholders in taking an informed decision. Also, the Companies Act, 2013 has for the firsttime included various aspects relating to corporate governance. This would further ensurethat the companies follow good corporate governance practices.Investor Protection is the most significant facet of corporate governance. However, it isneglected. In the wake of various corporate scams and accounting scandals, insider trading,non-disclosure by companies, vanishing companies and other such practices of corporate;the relevance of investor protection has increased. On account of such corporate frauds, theinvestors are the segment of the stakeholders who are most gravely affected. Hence, theframework of Corporate Governance in India should aim at protection of the investors.Shareholder Activism is a modern trend which triggers the corporates to follow goodcorporate governance practices and ensure investor protection. The Securities and ExchangeBoard of India plays a pivotal role in protecting the investors in India. The KumarMangalam Birla Committee recommendations led to introduction of Clause 49 in the Listing  Agreement which is the bedrock of Corporate Governance in India. A mandatory requirement under Clause 49 of the Listing Agreement is formulation of the

Investor‟s Gr

ievance Committee, which shall entertain the complaints of the investors andensure that such grievances are redressed. Later the Narayana Murthy Committee made

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