Publication: Culture and Corporate Governance Principles in India : Reconcilable Clashes?
Date
2011-01
ISSN
Published
2011-01
Author(s)
World Bank
Abstract
The structures, institutions, and legal
framework of corporate governance are developed and
administered by individuals whose behaviors are shaped by
cultural and personal concepts of hope, ambition, greed,
fear, uncertainty, and hubris, as well as by the social
ethos. A problem arises when these influences do not conform
to the regulatory prescriptions of corporate governance.
This private sector opinion explores the dynamics of culture
and corporate governance in India by calling attention to
three areas where the clashes are strongest: related-party
transactions, the promoter's or large
shareholder's actions, and the board's
nominations, deliberations, and effectiveness.
Citation
“World Bank. 2011. Culture and Corporate Governance Principles in India : Reconcilable Clashes?. Private Sector Opinion; No. 23. © Washington, DC. http://openknowledge.worldbank.org/entities/publication/8a2db9a2-ced6-54e6-9939-1d9814a71a49 License: CC BY-NC-ND 3.0 IGO.”