Edited by John R. McIntyre, Silvester Ivanaj and Vera Ivanaj
Chapter 4: Appraisal of corporate governance norms: evidence from Indian corporate enterprises
The issues relating to corporate governance have come into prominence because of their apparent importance for the sustainable health of corporations and society in general, especially after the plethora of corporate scams and debacles in recent times. The United States (US), Canada, United Kingdom (UK), other European countries, East Asian countries, and even India for that matter have witnessed the collapse of or severe pressure on their economies and have faced grave problems including the demise of several leading companies in the recent past. This has resulted in a greater emphasis on and new dimensions of corporate governance issues. The corporate governance issues flow from the concept of accountability for the safety and performance of assets and resources entrusted to the operating team. These issues of accountability and governance assume greater significance and call for more sustainable practices in the case of developing countries. Corporate governance broadly refers to a set of strategies and practices that are designed to govern the behaviour of corporate enterprises. Corporate governance deals with the ethos, laws, procedures, practices and implicit rules that determine a company’s ability to take managerial decisions and innovative strategies towards sustainable growth. Against the backdrop of several corporate debacles, corporate governance has been increasingly seen as a means to promote healthier and sustainable corporate practices.
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