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Abstract
During the last two decades, a series of high-profile enterprise failures at companies like Enron, WorldCom, Tyco in the USA, and Satyam computers of India, have all brought the discussion on corporate governance to the centre stage. The shareholders of Enron and WorldCom in the USA, between them, lost US$ 245 billion due to the monumental frauds committed by their managements. Shareholders of Satyam computers lost crores of rupees in India. Whereas developed countries like the USA have taken effective steps to improve the corporate governance standards and prevent such failures in future, the same thing may not be true for developing countries like India. This paper is a comparative, case based study and analysis of the effectiveness of corporate governance practices in the USA and India. This paper identifies weaknesses of Indian corporate governance practices and recommends strategic change measures necessary for harmonising the Indian corporate governance practices with those of the USA.
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