Contents1) Introduction......................................................................................................................................... 32) Corporate Governance: Definition............................................................................................. 43) Objectives and Scope........................................................................................................................ 64) Global Perspective to Corporate Governance....................................................................... 75) Emergence of Corporate Governance in India...................................................................... 96) Committees on CG in India............................................................................................................ 107) Clause 49 of Listing Agreement................................................................................................... 138) Corporate Governance in ITC Ltd................................................................................................ 209) Conclusion............................................................................................................................................. 2910) References.......................................................................................................................................... 291)IntroductionThis Research Paper focuses on the concept of Corporate Governance which is gaining a wide importance not only in the Developing countries but also in the Emerging nations like India. The paper investigates how the term has evolved over the years and by how much India has embraced to the concept of Corporate Governance.
The subject of corporate governance leapt to global business limelight fromrelative obscurity after a string of collapses of high profile companies. Enron, theHouston, Texas based energy giant, and WorldCom, the telecom behemoth, shocked thebusiness world with both the scale and age of their unethical and illegal operations.
English: Corporate Governance
Corporation: People
Corporation: PeopleWorse, they seemed to indicate only the tip of a dangerous iceberg. While corporatepractices in the US companies came under attack, it appeared that the problem was farmore widespread. Corporate governance has, of course, been an important field of query within then finance discipline for decades. Researchers in finance have actively investigated the topic for at least a quarter century and the father of modern economics, Adam Smith, himself had recognized the problem over two centuries ago.
However, the differences in the quality of corporate governance in these developed countries fade in comparison to the chasm that exists between corporate governance standards and practices in these countries as a group and those in the developing world.
Ethics in general and of business ethics in particular provides a conceptual discussion of the dynamics of ethics in society and the dynamics of business ethics in the market place. Ethics is more than...