Research Scholar, Department of Commerce, DSE, University of Delhi, New Delhi, India
Online published on 11 July, 2017.
Corporate governance has played a very significant role in improving the corporate culture not only at national level but internationally as well. It started from being voluntary in nature and the active role played by public listed companies in improving governance standards in India shows the extent of the importance of corporate governance. CII, a non-government, not-for-profit, industry-led and industry managed organization dominated by large public-listed firms had played an active role in the development of India's corporate governance norms.
Corporate governance began as a voluntary effort and soon acquired mandatory status through the adoption of Clause 49, as all companies(of certain size) listed on stock exchanges were required to comply with these norms, a trend which was further reinforced by the introduction of stringent penalties for violation of the prescribed norms.
In that sense, the corporate governance norms in India appear to have completed two cycles of oscillating between the voluntary and the mandatory approaches.
To study the evolution of corporate governance in India and the initiatives taken henceforth
To study the reforms taken place in corporate governance at a global level.
To study the global trends of corporate governance.
The research study is based on the information collected from various secondary sources. Articles published in leading journals, newspapers and websites have been referred to in conducting this study.
