IDEAS home Printed from https://ideas.repec.org/a/ids/ijicbm/v22y2021i2p272-286.html
   My bibliography  Save this article

Inclusive corporate governance for creating shared values: Indian experience

Author

Listed:
  • I. Sridhar
  • Sahil Singh Jasrotia

Abstract

The change in original design of a private corporation producing profits for a relative few is being redefined as a public institution engaged in a wide range of activities some of which appear unrelated to short-term profitability. Businesses can no longer stay insulated from wider obligations, to employees, consumers, environment, and to the people and society in general. The purpose of this paper is to analyse whether the current regime is adequate to deal with the changed corporation, and if not, what changes need to be wrought to make it adequate. Our study establishes that Indian companies' perspective towards stakeholders stands enhanced, creating an ideal environment for good corporate governance. An implication of this study is to make management of corporations to be accountable to non-shareholder interests and other community prerogatives, in making corporate decisions.

Suggested Citation

  • I. Sridhar & Sahil Singh Jasrotia, 2021. "Inclusive corporate governance for creating shared values: Indian experience," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 22(2), pages 272-286.
    • Handle: RePEc:ids:ijicbm:v:22:y:2021:i:2:p:272-286
    as

    Download full text from publisher

    File URL: http://www.inderscience.com/link.php?id=113011
    Download Restriction: Access to full text is restricted to subscribers.
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Putniņš, Tālis J. & Sauka, Arnis, 2015. "Measuring the shadow economy using company managers," Journal of Comparative Economics, Elsevier, vol. 43(2), pages 471-490.
    2. Antonio Argandoña & Heidi Hoivik, 2009. "Corporate Social Responsibility: One Size Does Not Fit All. Collecting Evidence from Europe," Journal of Business Ethics, Springer, vol. 89(3), pages 221-234, November.
    3. Anthony J. Venables, 2016. "Using Natural Resources for Development: Why Has It Proven So Difficult?," Journal of Economic Perspectives, American Economic Association, vol. 30(1), pages 161-184, Winter.
    4. Michelle J. Stecker, 2016. "Awash in a Sea of Confusion: Benefit Corporations, Social Enterprise, and the Fear of “Greenwashing”," Journal of Economic Issues, Taylor & Francis Journals, vol. 50(2), pages 373-381, April.
    5. Daniela M. Salvioni & Simona Franzoni & Francesca Gennari & Raffaella Cassano, 2018. "Convergence in corporate governance systems and sustainability culture," International Journal of Business Performance Management, Inderscience Enterprises Ltd, vol. 19(1), pages 7-15.
    6. Andreas Georg Scherer & Guido Palazzo, 2011. "The New Political Role of Business in a Globalized World: A Review of a New Perspective on CSR and its Implications for the Firm, Governance, and Democracy," Journal of Management Studies, Wiley Blackwell, vol. 48(4), pages 899-931, June.
    7. Ritam Garg & Judith Ambrosius, 2018. "Whoever said corporations do not care? Evidence of CSR from India," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 16(2), pages 206-222.
    8. Priyanka Verma & Anupam Singh, 2016. "The impact of religiosity upon managers' CSR orientation: an empirical study in the Indian perspective," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 12(4), pages 407-424.
    9. Shinu Vig & Manipadma Datta, 2018. "Corporate governance and value creation: a study of selected Indian companies," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 17(3), pages 259-282.
    10. I. Sridhar, 2018. "Duties of directors in corporate governance: an Indian perspective," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 17(4), pages 442-454.
    11. Rakesh K. Mishra & Sheeba Kapil, 2016. "Study on corporate governance mechanisms," International Journal of Indian Culture and Business Management, Inderscience Enterprises Ltd, vol. 12(2), pages 179-203.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Michał Jurek, 2014. "The genesis and evolution of CSR self-regulation with special refer-ence to the case of financial institutions," Working papers wpaper70, Financialisation, Economy, Society & Sustainable Development (FESSUD) Project.
    2. Argandoña, Antonio, 2015. "A Framework For The Analysis Of Spirituality At Work," IESE Research Papers D/1122, IESE Business School.
    3. Nouf Alsharif & Sambit Bhattacharyya & Maurizio Intartaglia, 2016. "Economic Diversification in Resource Rich Countries: Uncovering the State of Knowledge," Working Paper Series 09816, Department of Economics, University of Sussex Business School.
    4. Federico Carril-Caccia & Juliette Milgram-Baleix & Jordi Paniagua, 2019. "Foreign Direct Investment in oil-abundant countries: The role of institutions," PLOS ONE, Public Library of Science, vol. 14(4), pages 1-23, April.
    5. Nino Kokashvili & Irakli Barbakadze & Ketevani Kapanadze, 2017. "How Participating In The Shadow Economy Affects The Growth Of Latvian Firms," University of Tartu - Faculty of Economics and Business Administration Working Paper Series 101, Faculty of Economics and Business Administration, University of Tartu (Estonia).
    6. Josep M. Lozano, 2022. "From Business Ethics to Business Education: Peter-Hans Kolvenbach’s Contribution," Humanistic Management Journal, Springer, vol. 7(1), pages 135-156, April.
    7. Paltseva, Elena & Toews , Gerhard & Troya-Martinez, Marta, 2022. "I’ll pay you later: Sustaining Relationships under the Threat of Expropriation," SITE Working Paper Series 59, Stockholm School of Economics, Stockholm Institute of Transition Economics.
    8. Muhamad, Goran M. & Heshmati, Almas & Khayyat, Nabaz T., 2021. "How to reduce the degree of dependency on natural resources?," Resources Policy, Elsevier, vol. 72(C).
    9. Ligita Gasparėnienė & Rita Remeikienė & Colin C. Williams, 2022. "Unemployment and the Informal Economy," SpringerBriefs in Economics, Springer, number 978-3-030-96687-4, April.
    10. David Monciardini & Guido Conaldi, 2019. "The European regulation of corporate social responsibility: The role of beneficiaries' intermediaries," Regulation & Governance, John Wiley & Sons, vol. 13(2), pages 240-259, June.
    11. Piotr Dybka & Bartosz Olesiński & Marek Rozkrut & Andrzej Torój, 2023. "Measuring the model uncertainty of shadow economy estimates," International Tax and Public Finance, Springer;International Institute of Public Finance, vol. 30(4), pages 1069-1106, August.
    12. Jaakkola, Niko & Spiro, Daniel & van Benthem, Arthur A., 2019. "Finders, keepers?," Journal of Public Economics, Elsevier, vol. 169(C), pages 17-33.
    13. Frederick van der Ploeg & Anthony J. Venables, 2017. "Extractive revenues and government spending: Short- versus long-term considerations," WIDER Working Paper Series wp-2017-45, World Institute for Development Economic Research (UNU-WIDER).
    14. Danny Zhao‐Xiang Huang, 2022. "An integrated theory of the firm approach to environmental, social and governance performance," Accounting and Finance, Accounting and Finance Association of Australia and New Zealand, vol. 62(S1), pages 1567-1598, April.
    15. Dolores Gallardo-Vázquez & Luis Enrique Valdez-Juárez & José Luis Lizcano-Álvarez, 2019. "Corporate Social Responsibility and Intellectual Capital: Sources of Competitiveness and Legitimacy in Organizations’ Management Practices," Sustainability, MDPI, vol. 11(20), pages 1-29, October.
    16. Anthony J. Venables & Samuel E. Wills, 2016. "Resource Funds: Stabilising, Parking, and Inter-generational Transfer," Journal of African Economies, Centre for the Study of African Economies, vol. 25(suppl_2), pages 20-40.
    17. Simon Hartmann & Thomas Lindner & Jakob Müllner & Jonas Puck, 2022. "Beyond the nation-state: Anchoring supranational institutions in international business research," Journal of International Business Studies, Palgrave Macmillan;Academy of International Business, vol. 53(6), pages 1282-1306, August.
    18. Rafael Alcadipani & Cíntia Rodrigues Oliveira Medeiros, 2020. "When Corporations Cause Harm: A Critical View of Corporate Social Irresponsibility and Corporate Crimes," Journal of Business Ethics, Springer, vol. 167(2), pages 285-297, November.
    19. Nathapornpan Piyaareekul Uttama & Rapipong Promnart, 2022. "Shadow economy and the efficiency of FDI inflow: the case of ASEAN economies," International Journal of Economics and Business Research, Inderscience Enterprises Ltd, vol. 23(2), pages 136-155.
    20. Francesca Colli & Johan Adriaensen, 2020. "Lobbying the state or the market? A framework to study civil society organizations’ strategic behavior," Regulation & Governance, John Wiley & Sons, vol. 14(3), pages 501-513, July.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:ids:ijicbm:v:22:y:2021:i:2:p:272-286. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Sarah Parker (email available below). General contact details of provider: http://www.inderscience.com/browse/index.php?journalID=235 .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.