Culture and Corporate Governance Principles in India : Reconcilable Clashes?

The structures, institutions, and legal framework of corporate governance are developed and administered by individuals whose behaviors are shaped by cultural and personal concepts of hope, ambition, greed, fear, uncertainty, and hubris, as well as...

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Bibliographic Details
Main Author:	World Bank
Format:	Brief
Language:	English
Published:	Washington, DC 2012
Subjects:	ACCESS TO CAPITAL ACCOUNTABILITY ACCOUNTING ACCOUNTING STANDARD ACQUISITIONS ALLEGIANCE AMBITION AUDIT COMMITTEES BAD FAITH BANKRUPTCY BOARD MEETINGS BORDER MERGERS BROKERAGE BUSINESS LAW BUSINESS OPPORTUNITY CAPITAL MARKETS CASH FLOW CHIEF EXECUTIVE COLLECTIVE COMMODITIES COMPANIES ACT COMPANY CONFLICT OF INTEREST CONSENSUS CONTROLLING SHAREHOLDERS CORPORATE BEHAVIOUR CORPORATE ENTITIES CORPORATE ENTITY CORPORATE FINANCE CORPORATE FORM CORPORATE GOVERNANCE CORPORATE GOVERNANCE PRINCIPLES CORPORATE GOVERNANCE REFORM CORPORATE GOVERNANCE REFORMS CORPORATE LAW CORPORATE SOCIAL RESPONSIBILITY CORPORATE WRONGDOING CORRUPTION CREDIBILITY DEBT DECISION-MAKING DECISION-MAKING PROCESSES DEEDS DELAWARE DERIVATIVE DEVELOPING COUNTRIES DISCLOSURE ECONOMIC ACTIVITY ECONOMIC DEVELOPMENT ECONOMIC REFORMS EMERGING ECONOMIES EMERGING MARKETS ENACTMENT ENFORCEMENT MECHANISMS ENVIRONMENTAL ISSUES ENVIRONMENTAL RISKS EXCHANGE BOARD EXPORTER FAMILY BUSINESS FAMILY BUSINESSES FAMILY FIRMS FINANCE COMPANIES FINANCE CORPORATION FINANCIAL CRISIS FINANCIAL MARKET FINANCIAL SECTOR FIRM PERFORMANCE FIRM-LEVEL CORPORATE GOVERNANCE FOREIGN CAPITAL FOREIGN INSTITUTIONAL INVESTORS FOREIGN INVESTORS FRAUD FREE PRESS GLOBAL CAPITAL GLOBAL CAPITAL MARKETS GLOBAL CORPORATE GOVERNANCE GLOBAL PRIVATE SECTOR GLOBAL STANDARDS GLOBALIZATION GOOD CORPORATE GOVERNANCE GOVERNANCE CHALLENGES GOVERNANCE ISSUES GOVERNANCE PRACTICE GOVERNANCE PRACTICES GROUP COMPANIES HARMONIZATION HOLDING HOLDINGS INCOME INCOME TAX INDEPENDENT DIRECTOR INDEPENDENT DIRECTORS INDIVIDUALS INEQUALITY INFORMATION TECHNOLOGY INSTITUTIONAL INVESTORS INSURANCE INTERNATIONAL FINANCE INTERNATIONAL LAW INVESTMENT BANKING INVESTMENT OPPORTUNITY LARGE SHAREHOLDER LEGAL FRAMEWORK LEGAL PROTECTION LEGAL TRADITIONS LIBERALIZATION LIFE INSURANCE LIFE INSURANCE COMPANY LIMITED LOCAL GOVERNANCE LOCAL INSTITUTIONS LTD. MANAGERS MARKET REGULATION MARKET VALUES MINORITY SHAREHOLDER MINORITY SHAREHOLDERS MISMANAGEMENT MONETARY FUND MORAL VALUES MULTINATIONAL CORPORATIONS MUTUAL FUNDS OWNERSHIP CONCENTRATION POLITICAL ECONOMY POLITICIANS PREFERENTIAL TREATMENT PRIVATE EQUITY PROPERTY RIGHTS PROXY REGULATORS REGULATORY FRAMEWORK REGULATORY STANDARDS REGULATORY SYSTEM REPUTATION RESERVE RESERVE BANK RETURNS RETURNS ON EQUITY SCANDAL SECURITIES SECURITIES EXCHANGE SECURITIES MARKET SECURITIES MARKETS SHARE PRICES SHARE VALUATION SHAREHOLDER SHAREHOLDER APPROVAL SHAREHOLDER ENGAGEMENT SHAREHOLDER VALUE SHAREHOLDER VOTE SHAREHOLDER VOTES SHAREHOLDERS SOCIAL NORMS SOCIAL RESPONSIBILITY SOCIAL RISKS SOCIETIES SOCIETY STAKEHOLDER STAKEHOLDER RELATIONSHIPS STAKEHOLDERS STATE ENTERPRISES STATE GOVERNMENT STOCK EXCHANGE STOCK EXCHANGE LISTING STOCK EXCHANGES SUBSIDIARY TAKEOVER TAKEOVER TARGET TELECOMMUNICATIONS THEORY OF CORPORATE GOVERNANCE SYSTEMS TRANSACTION TRANSACTION COSTS TRANSPARENCY TRUST FUND TRUSTS TURNOVER VALUATIONS VOTING WORLD ECONOMY
Online Access:	http://documents.worldbank.org/curated/en/2011/01/15107208/culture-corporate-governance-principles-india-reconcilable-clashes http://hdl.handle.net/10986/11070

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Summary:	The structures, institutions, and legal framework of corporate governance are developed and administered by individuals whose behaviors are shaped by cultural and personal concepts of hope, ambition, greed, fear, uncertainty, and hubris, as well as by the social ethos. A problem arises when these influences do not conform to the regulatory prescriptions of corporate governance. This private sector opinion explores the dynamics of culture and corporate governance in India by calling attention to three areas where the clashes are strongest: related-party transactions, the promoter's or large shareholder's actions, and the board's nominations, deliberations, and effectiveness.

Culture and Corporate Governance Principles in India : Reconcilable Clashes?

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