Corporate Governance in India: Traditional and Scriptural Perspectives

The Chartered Secretary, pp. 385-388, March 2005

8 Pages Posted: 8 May 2010

See all articles by Bala N. Balasubramanian

Bala N. Balasubramanian

Indian Institute of Management Ahmedabad; Formerly IIM Bangalore - Centre for Corporate Governance and Citizensip; Indian Institute of Management Ahmedabad

Date Written: December 30, 2005

Abstract

There is a host of literature on governance models, stakeholder protection, best practices in board constitution and its processes, the equations between the board and the operating executive management, and so on. What is less known is the fact that our own ancient texts have laid down sound principles of governance which surprisingly seem very relevant to modern day corporate requirements. In this paper, we explore some of the ancient and scriptural sources to illustrate some of these basic principles as brought out in such texts, and to relate them to modern day precepts and practices in this field. An important objective of this study is also to examine whether some of the current best practices are so foreign, and hence inappropriate, to our circumstances, as is often suggested; and finally, also to ascertain whether there are best practices in ancient governance that could be extrapolated or built upon in designing an Indian model of good corporate governance.

Keywords: Corporate Governance, India, Scriptures, Traditions, History, Mahabharata, Artha Sastra, Dharma Sutras

JEL Classification: G30, G34, G39, K22, K49

Suggested Citation

Balasubramanian, Bala N., Corporate Governance in India: Traditional and Scriptural Perspectives (December 30, 2005). The Chartered Secretary, pp. 385-388, March 2005, Available at SSRN: https://ssrn.com/abstract=1529626

Bala N. Balasubramanian (Contact Author)

Indian Institute of Management Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat
India
+919167036140 (Phone)

Formerly IIM Bangalore - Centre for Corporate Governance and Citizensip ( email )

Bannerghatta Road
Bangalore, Karnataka 560076
India

Indian Institute of Management Ahmedabad ( email )

Vastrapur
Ahmedabad, Gujarat
India
+919167036140 (Phone)

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