Unlike the central governance issue in the Anglo Saxon world, which is essentially that of disciplining management that may stop being accountable to the owners, who are dispersed shareholders, the central challenge in corporate governance in India is that of disciplining the dominant...

Worldwide, the presence of independent directors on the board of listed companies is seen as an integral element of a company's corporate governance process and has become a pre requisite for good governance. Consequently, in the recent years, governance reforms in India have increasingly pinned...

The Companies Act, 2013 has envisaged independent directors as the pivot for improvements in corporate governance practices in Indian companies. Recent governance issues that surfaced in some leading company boards, however, belie that expectation. The current framework for independent directors...

We lack an encompassing and unifying theory of corporate governance. The most popular theoretical framework, Agency Theory, is proving to be a straight jacket: useful in some contexts but quite limiting, particularly when the underlying assumptions do not hold. The Agency Theory led to the...

Corporate Governance Reforms in India are of recent origin – the reform process got a kick start only with the liberalization of the Indian Economy in 1991. While the progress in legislating and introducing corporate governance reforms in India in the last two decades has been quite...