The paper is divided into three sections. The first section discusses certain theoretical issues on corporate governance in relation to empowerment of shareholders and argues why corporate governance is essentially a tool for investor protection; it also argues why some of the commonly used systems of corporate governance are necessary. The second section, surveys corporate governance across major markets of the world. The third section reports on the recent initiatives on corporate governance in India by the Securities and Exchange Board of India – the appointment of the Birla Committee and implementations of the recommendations. It discusses the rationale of each recommendation as in the original report. As would be seen the recommendations find justification in the theoretical foundations of corporate governance discussed in the first section and also favorably compare with the codes, guidelines and laws on corporate governance in developed markets. The views expressed in this paper are author’s own and does not necessarily reflect the views of the Securities and Exchange Board of India
To submit an update or takedown request for this paper, please submit an Update/Correction/Removal Request.