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Corporate governance practices: global convergence and Indian perspective

Author

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  • Shigufta Hena Uzma

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.

Suggested Citation

  • Shigufta Hena Uzma, 2018. "Corporate governance practices: global convergence and Indian perspective," Qualitative Research in Financial Markets, Emerald Group Publishing Limited, vol. 10(3), pages 285-308, August.
    • Handle: RePEc:eme:qrfmpp:qrfm-12-2016-0049
    DOI: 10.1108/QRFM-12-2016-0049
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    Citations

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    Cited by:

    1. Nixon Mugilwa & Josiah Aduda & Kennedy Okiro & Patersson Magutu, 2024. "Does Funding Structure Mediate the Relationship Between Corporate Governance and Financial Performance? Evidence from Deposit Taking Sacco's in Kenya," Journal of Finance and Investment Analysis, SCIENPRESS Ltd, vol. 13(2), pages 1-1.
    2. Mahesh Chand Garg & Khushboo Tanwer, 2023. "Board Variables Reforms in India: Success or Failure? A Comparative Analysis Between Pre and Post Enactment Period of Companies Act, 2013," Asia-Pacific Financial Markets, Springer;Japanese Association of Financial Economics and Engineering, vol. 30(3), pages 531-558, September.
    3. Kamil K. Nazliben & Luc Renneboog & Emil Uduwalage, 2024. "Corporate governance from colonial Ceylon to post-civil war Sri Lanka," Journal of Management & Governance, Springer;Accademia Italiana di Economia Aziendale (AIDEA), vol. 28(1), pages 265-335, March.
    4. Faozi A. Almaqtari & Hamood Mohd. Al-Hattami & Khalid M. E. Al-Nuzaili & Mohammed A. Al-Bukhrani, 2020. "Corporate governance in India: A systematic review and synthesis for future research," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1803579-180, January.

    More about this item

    Keywords

    India; Emerging countries; Convergence; OECD principles; Corporate governance codes; G30; G38;
    All these keywords.

    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G38 - Financial Economics - - Corporate Finance and Governance - - - Government Policy and Regulation

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