Surveillance of corporate governance compliance through a prolific advance

Abstract

Globalization has not only significantly heightened business risks, but has also compelled Indian companies to adopt international norms and good governance. Much has been heard, talked and said about the topic of corporate governance, but unfortunately the parameters to judge its practical implementation is still not very clear to many. It is the premise of apprehension for Indian corporates to initiate hard core action so as to evolve and devour corporate governance at a rapid speed for their survival and growth. Corporate governance is an enduring process that requires integrated efforts and in today's exceedingly specialized epoch, it is indispensable to be the specialist to achieve quality. The question arises that whether the compliance of good corporate governance has evolved and espoused with the changing circumstances of the corporate life and customized to meet those circumstances. This whole exercise calls for professional capability, deliberation, commitment of time and focused awareness with unprejudiced approach. Thus, the surfacing of a growing consensus in regard to the compliance of good corporate governance practices imbibed through appropriate reporting in Indian industries, has been studied to explore the vital dimensions of corporate governance standards for getting pledged to the ideology with the underlying effective analysis, that sets to be a way of life and not mere compliance with a set of rules. This paper presents the evaluation of the compliance of corporate governance on the basis of assigning governance scores to the sample companies as per clause 49 of the listing agreement of SEBI Act. © 2009, SAGE Publications Ltd. All rights reserved.