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Abstract
Manuscript Type: Empirical. Research Question/Issue: The present paper attempts to analyze the level of disclosure on corporate governance practices among the biggest IT companies in India (in terms of exports as per Electronics and Computer Software Export Promotion Council (ESC) in the time period 2004-2005 to 2011-2012 and its effects on performance and profitability. Research Findings/Results: Using the survey of 6 IT companies with the Standard & Poor’s score card to assess the corporate governance disclosure practices of the companies as a benchmark. It is observed that among the sample IT companies, Infosys, Wipro, TCS and HCL scored high score i.e. more than 100 and Tech Mahindra and Mphasis scored low score i.e. less than 96 in corporate governance disclosure practices. Theoretical Implications: The results of the study support theoretical arguments that corporate governance disclosure increases performance. Practical Implications: A country’s government environment—especially legal and market infrastructure—highly affect the companies’ rate of disclosure which then increases profitability. To policy makers and practitioners, the results suggest that corporate governance should be monitored. Good legislation and a market environment that is free from corruption are essential for corporate governance disclosure to be efficient.
Highlights
Corporate governance is about maintaining an appropriate balance of accountability between three key players: How to cite this paper: Subramanyam, M. and Dasaraju, H. (2014) Corporate Governance and Disclosure Practices in Listed Information Technology (IT) Companies in India
The study adopts a two-way approach. It focuses on the evolution of Corporate Governance (CG), its structure, mechanism, regulatory framework, codes of CG and its implementation and so on; secondly, on the sample companies to assess the efficiency of CG and its Disclosures
While this study focuses on disclosures, it does not endeavor to assess the quality of the information provided or identify any disclosure that may be incorrect or fraudulent
Summary
Corporate governance is about maintaining an appropriate balance of accountability between three key players: How to cite this paper: Subramanyam, M. and Dasaraju, H. (2014) Corporate Governance and Disclosure Practices in Listed Information Technology (IT) Companies in India. Corporate governance is about maintaining an appropriate balance of accountability between three key players: How to cite this paper: Subramanyam, M. and Dasaraju, H. (2014) Corporate Governance and Disclosure Practices in Listed Information Technology (IT) Companies in India. Dasaraju the corporation’s owners, the directors whom the owners elect, and the managers whom the directors select. Accountability requires good transparency, and an effective means to take action for poor performance or bad decisions. Chairperson, Securities and Exchange Commission, USA, Address to Transatlantic Corporate Governance Dialogue—September 17, 2009)
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