Corporate Governance and Disclosure Practices of Indian Firms: An Industry Perspective
The IUP Journal of Corporate Governance, Vol. 13, No. 2, pp. 27-41 (2014)
16 Pages Posted: 3 Jul 2014
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Corporate Governance and Disclosure Practices of Indian Firms: An Industry Perspective
Corporate Governance and Disclosure Practices of Indian Firms: An Industry Perspective
Date Written: June 23, 2014
Abstract
Corporate governance stands for responsible business management geared towards long-term value creation. Good corporate governance is a key driver of sustainable corporate growth and long-term competitive advantage. It focuses on a company’s structure and processes to ensure fair, responsible, transparent and accountable corporate behavior. This study attempts to examine the impact of the nature of sector or industry on corporate governance and disclosure practices of firms by identifying and testing the empirical evidence for such relationship for firms listed on the Bombay Stock Exchange (BSE) in the form of S&P BSE sector indices. The sample firms represent different sectors, like auto, metal, oil and gas, consumer durables, capital goods, FMCG, healthcare, IT, and power. The findings reveal that no significant correlation exists between the industry type and the level of disclosure in the Indian context.
Keywords: Corporate Governance, Bombay Stock Exchange (BSE), Foreign Institutional Investors (FIIs), Organization for Economic Cooperation and Development (OECD), Practices of Indian Firms, Industry Perspectives
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