Conclusions

Arindam Banik ()

Chapter 9 in Corporate Governance, Responsibility and Sustainability, 2015, pp 158-163 from Palgrave Macmillan

Abstract: Abstract The aim of this book is to review various aspects of corporate governance in key emerging economies such as China, India, Brazil, South Africa and Russia. This is essential in the context of globalization that has resulted in massive changes in regulation, combined with redistribution of power from states to independent organizations. Our analyses are limited to corporate-governance frameworks, market discipline, the role played by formal legal and regulatory frameworks, building an efficient and competitive capital market, the various reforms suggested by various bodies in recent times to strengthen corporate governance norms and processes, as well as changes in laws, rules and regulations, particularly in the post-economic liberalization period. Our results, in brief, suggest that independent directors are probably not selected on the basis of their intrinsic ability. In order to make the board effective there may be selection if the ability distribution among independent directors is significantly different from the distribution among other directors. Against this background, we have discussed the emerging understanding amongst boards about the integration of strategy, risk, sustainability and performance in corporate governance codes. Issues such as corporate social responsibility and sustainability have also been examined.

Keywords: Corporate Social Responsibility; Corporate Governance; Independent Director; Ethical Climate; Audit Committee (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-36185-1_9

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DOI: 10.1057/9781137361851_9

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