Abstract
This chapter summarizes the results of the present study, which aimed to examine corporate governance practice in Indian industry. It was imperative to conduct a detailed study on corporate governance, due to the worldwide financial scandals and others much closer to home, such as the Satyam case, which have rocked the corporate world across the globe. These have caused severe damage, leading to bankruptcies, unstable stock markets, and shaken investor confidence. Thus, the concept of corporate governance rose to meet these challenges, with due emphasis on accountability, transparency, and fairness in disclosures, as well as identifying the role and responsibilities of the board of directors and management. Therefore, the need arose to check the extent of compliance in terms of corporate governance codes and standards, as framed from time-to-time based on several committee recommendations, which worked to improve the existing practices. The automobile industry and heavy engineering industry were selected as a sample for the present study, as coverage of the entire industrial sector was not possible due to time and resource constraints.
Keywords
- Corporate Governance
- Independent Director
- Audit Committee
- Corporate Governance Code
- Corporate Governance Practice
These keywords were added by machine and not by the authors. This process is experimental and the keywords may be updated as the learning algorithm improves.
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Notes
Mark S. Beasley, Joseph V. Carcello, Dana R. Harmanson, and Terry L. Neal (2010) ‘COSO Fraudulent Financial Reporting 1998–2007 — An Analysis of U.S. Public Companies,’ Kroll Global Fraud Report 2010.
J. P. Sharma (2014) Governance, Ethics and Social Responsibility of Business (New Delhi: Ane Books).
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© 2015 Priyanka Kaushik Sharma
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Sharma, P.K. (2015). Summary, Conclusions, and Suggestions. In: Corporate Governance Practices in India. Palgrave Macmillan, London. https://doi.org/10.1057/9781137519368_5
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DOI: https://doi.org/10.1057/9781137519368_5
Publisher Name: Palgrave Macmillan, London
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