Corporate governance practices: global convergence and Indian perspective

Shigufta Hena Uzma

Qualitative Research in Financial Markets, 2018, vol. 10, issue 3, 285-308

Abstract: Purpose - This paper aims to study from three perspectives: the developed countries corporate governance (CG) practices, the role of OECD in the global convergence of CG standards and India as an emerging country. Design/methodology/approach - The paper reviews the various CG codes and regulations enacted in the Indian paradigm with special reference to theIndian Companies Act 2013(cited as Act 2013). Findings - The Act 2013 endeavours to provide a governance landscape in India with reforms. The new CG codes comprehensively introduce more accountability, transparency and stringent disclosure requirements. However, these changes are affected by the ownership structure, the level of enforcement and regulatory compliance of CG disclosure practices imposed on companies. Research limitations/implications - Further research can be carried out in three domains in emerging countries: ownership structure, the effect of legal and regulatory environment and impact of mandatory compliance. Practical implications - Legal and regulatory environment are notable extent that can effectively govern the CG codes. An increase in the board size, investor protection and gender diversity, with strong governance structure, can enhance the transparency of companies. Originality/value - The paper examines the prominence of CG norms with the ratification of theIndian Companies Act 2013, which is analogous with global CG policies and regulations.

Keywords: India; Emerging countries; Convergence; OECD principles; Corporate governance codes; G30; G38 (search for similar items in EconPapers)
Date: 2018
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Citations: View citations in EconPapers (4)

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Persistent link: https://EconPapers.repec.org/RePEc:eme:qrfmpp:qrfm-12-2016-0049

DOI: 10.1108/QRFM-12-2016-0049

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