Abstract
Corporate governance is the current buzzword in business jargon. It has become a subject of discussion in corporate boardrooms, academic circles, and governments around the globe. High profile corporate collapses in India (for example, Harsad Mehta’s securities scam, the Ketan Parikh scam, the C. R. Bansal scam, and, most recent of all, the Satyam fraud), and overseas (for example, the Junk Bond scam, Qwest, Global Crossing, Andersen, Enron, and WorldCom), have shattered the dreams of various investors, shocked governments and regulators alike and led to a questioning of the accounting practices of statutory auditors, and of corporate governance norms. Unethical business conduct and behavior, failure of boards of directors, flaws in external audits, failure in corporate strategies, unfettered power in the hands of the chairman/chief executive officer (CEO), lack of transparency, inadequate disclosures, fraud, lack of proper internal audits, weak internal control, the dubious role of rating agencies, and inadequate regulatory mechanisms are the most common governance problems or flaws noticed in all such corporate failures in India, the US, the UK, and other parts of the world.
Access this chapter
Tax calculation will be finalised at checkout
Purchases are for personal use only
Preview
Unable to display preview. Download preview PDF.
Notes
Priyabrata Patnaik (2010) ‘Power Sector Reform — A New Way of Corporate Governance’ (A Case Study of Orissa), Ph.D. Thesis, Utkal University.
Biswajit Nag, Saikat Banerjee and Rittwik Chatterjee (2007) ‘Changing Features of the Automobile Industry in Asia: Comparison of Production, Trade and Market Structure in Selected Countries, Asia-Pacific Research and Training Network on Trade,’ Working Paper Series, No. 37, July.
Pranav Mishra, Dr K. K. Garg and Dr Amit Naru (2013) ‘The Deming Prize — The Route to Improving Performance,’ International Journal of Advanced Research in Management and Social Sciences, Vol. 2, No. 9, 179–89.
Shivi Sharma (2009) ‘A Project Report on Bharat Heavy Electronics Limited,’ Aju Joseph.
Bindu Prashanth (2010) Mechanising Growth (Times of India Publication).
Inderpal Kaur (1997) Impact of Liberalisation on Indian Industry (New Delhi: Deep and Deep).
Author information
Authors and Affiliations
Copyright information
© 2015 Priyanka Kaushik Sharma
About this chapter
Cite this chapter
Sharma, P.K. (2015). Introduction. In: Corporate Governance Practices in India. Palgrave Macmillan, London. https://doi.org/10.1057/9781137519368_1
Download citation
DOI: https://doi.org/10.1057/9781137519368_1
Publisher Name: Palgrave Macmillan, London
Print ISBN: 978-1-349-70467-5
Online ISBN: 978-1-137-51936-8
eBook Packages: Palgrave Business & Management CollectionBusiness and Management (R0)