While corporate governance may not dictate the economic prospects of developing countries, it certainly plays an integral role in shaping them. This Note contains a detailed analysis of the corporate-governance architecture of one such developing country, India, from its independence in 1947 to the present. The results are surprising: India's corporate-governance framework is sophisticated for a developing country. However, considerable room remains for improvement. This Note presents a series of suggestions designed to improve corporate governance in India. Most notably, India must reform how its boards of directors function, improve its enforcement mechanisms, redefine its corporate laws, and embrace corporate governance as a philosophy.
... setting in global finance, norms of corporate social responsibility, and multistakeholder partic... based in Argentina, Australia, China, India, Malaysia, and South Africa, although it should be...
Revelations of fraud at Indian outsourcing firm Satyam Computer Services have raised questions over the strength of corporate governance among that nation's companies, highlighting a challenge facing HR as the profession evolves there. Yet the problems at Satyam, once ranked by Hewitt Associates as the second-best employer in India and the third-best by Mercer, reveals an opportunity for HR leaders there to take a larger role in how a corporation is governed. The current global economic uncertainty makes the need for corporate governance in India all the more pressing, as problems at one company can easily infect whole economies.
...-hanging fruit." (41) The Institute for Governance and Sustainable Development (IGSD) is demanding "f...
... come equipped with their own governance structures. This has led to an astonishing shift o...) examines the current state of China and India and believes the increased participation has not o... by providing a superior structure of corporate governance and business law, providing a stable ec...
I examine several possible explanations for why Infosys' Depositary Receipts (DRs) trade at significant premiums to the equivalent underlying domestic shares. I find that a limited supply of DRs and a downward-sloping demand curve, significant transaction costs associated with investing directly in the domestic market, and trend-chasing by smaller and potentially uninformed investors partly explain the DR premiums. I also examine the wealth effects of non-capital raising secondary depositary receipt offerings by Infosys Technologies and find significant wealth transfers from existing DR holders to selling domestic shareholders who are comprised significantly of Infosys' founders.
... significant DR premiums for a number of Indian firms. Barriers to arbitrage can result in the seg... in both India and the US for its corporate governance practices. Key financial information fo...
Critics are already pointing fingers at Pricewaterhouse, the audit firm that inspected Satyam?s books and gave the company clean audit reports. (Pricewaterhouse is the Indian subsidiary of PricewaterhouseCoopers.) Most say there is simply no way a Big 4 auditor would not attempt to verify Satyam?s cash balances.
... would follow a well-worn arc: poor corporate governance in a poorly regulated land leads to cri...
Most of the study of causal relationship of GDP or growth with Trade and Foreign Direct Investment in the context of India rely on cross country comparisons, or simple correlations/regressions disregarding nonstationarity properties. Some papers which consider time series properties depend on VAR or VECM or Johansen-Juselius cointegration technique which is shown to suffer from potential pretest biases, influence of nuisance parameters and asymptotic unreliability. The pitfalls of these techniques especially considering the uncertainty in ascertaining the order of cointegration of the variables in the system have been well documented in the literature and also briefly mentioned in this paper. Therefore, this study employs the more recent and robust ARDL bound testing approach suggested ...
...; (e) transfer of best practices in corporate governance and accounting practices; (f) integrati...
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