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Volume 6 Issue 5

S.No. Title & Authors Page No View

Title : Measures for Enhancing Corporate Governance Practices in Indian Firms

Authors : Ranjana Kothari

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Abstract :

The study attempts to reveal important measures necessary to enhance the soundness of corporate governance practices in Indian firms. For the purpose, a survey was undertaken using structured questionnaire to assess the opinion of various stakeholders on different mechanisms required to improve quality of corporate governance in India.  The results of the stakeholder survey comprising of 196 respondents reveal that improving standards of disclosure and transparency, developing code of ethics for directors, separation of CEO and chairman position, enforcement of legal compliance with corporate governance codes, director education and development, and enhancing standards of accounting and audit are the most significant measures to be undertaken for enhancing corporate governance standards in Indian firms. Additionally, protection of minority shareholders rights, performance based compensation system, putting cap on director and CEO tenure, developing market for corporate control, and voluntary adoption of corporate governance best practices are also important measures.