Corporate Governance Failure in India: A Study of Academicians Perception
The IUP Journal of Corporate Governance, Vol. 9, Nos. 1 & 2, pp. 99-112, January & April 2010
Posted: 25 Jan 2010
Date Written: January 25, 2010
Corporate governance has been gaining momentum across the world due to corporate failures, unethical business practices and insufficient disclosures. It has been observed that corporate frauds have increased in frequency, intensity and magnitude. The prevailing inequality, glorification of greed, lack of concern for society, feudal mindset and manifold regulations, are some reasons responsible for increase in the rate of scams. Though a lot of new standards have been set, changes in accounting and reporting have been made, with a focus on the process of enforcement and compliance, but the need of the hour is to build a highly committed workforce to observe good corporate governance in practice. Thus, a major responsibility lies on the shoulders of academicians who are considered as intellectuals in imparting the concept of corporate governance in the minds of young professionals. The study aims to understand the perception of academicians regarding reasons for failure of corporate governance in India.
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