Assistant Professor, Department of Business Administration, Maharaja Surajmal Institute, GGSIPU, New Delhi, India
Online published on 1 May, 2023.
Abrupt failure of corporations around the world resulted in formulation of guidelines concerning good governance by various authorities. This paper examines the adherence level of the CPSEs of India via CGI.
Data were collected from annual reports of Maharatna status CPSEs of India from 2009–10 to 2018–19 using content analysis and further analyzed using statistics techniques such as mean, standard deviation and coefficient of variation.
It is found that the compliance score of all the sampled companies was improved during the period under study, except, of ONGC. For variable-wise compliance, sampled companies showed a highest compliance for disclosure reliability variables with minimum variation.
This study is among the few studies conducted in India to evaluate companies’ as well as variable wise adherence level. This paper assists the policy makers to determine the possible changes and evaluating the present corporate governance guidelines effectiveness.
Corporate Governance, Corporate Governance Index (CGI), CPSEs, Board structure, Committees, Disclosure, Senior management
