Corporate governance in India from the internal stakeholder’s perspective

Abstract

The underlying aim of the research paper is to evaluate the internal stakeholders’ perceptions of the current corporate governance regime in India. In order to analyze the internal stakeholder’s perception towards current corporate governance regime, regulations and issues, a structured questionnaire has been prepared covering various aspects of corporate governance like components and performance implications of corporate governance in India, major issues in corporate governance, corporate governance strategies and practices, key players etc. The majority of the respondents perceive that there is a need to make the internal and external corporate governance better, enhance the standards of accounting, audit and disclosures, prohibit or check related party transactions, improve relation between board and management, publicize corporate governance ratings of companies, strengthen stock exchanges to ensure transparency, improve access to new capital etc. The findings of the study has contributed to the future development of corporate governance regulations in India. It will aid regulators, policy makers, stock exchanges and think tanks to rethink their priorities and develop rules to incorporate best practices on corporate governance. Keywords: Corporate governance, Corporate governance practices, Regulatory framework, Listing agreement, Securities markets.