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Includes cast study of Stayam Computer Services Ltd.
The book is about corporate governance in India in the context of recent mega-corporate frauds and corruption. It strives to discover appropriate governance rules to ensure the sustainability and effectiveness of the institution of corporate bodies, private and public, in India in the context of two mega corruption scandals of 2009, namely, Satyam and Specturam. The author argues that corruption mis-allocates scarce resources from the meritorious to the unworthy, the immoral, the criminal and the powerful. Thus, the author points out, such transactions result in undermining people's trust in the political system and hence causes a decline in the legitimacy of public office. Dr. Swamy refers to the law of Diminishing Interest of the public in opposing corruption when there is no accountability or if the corrupt are not brought to book. Worse, the author states, this consequent apathy towards mega corruption could vitiate the democratic system of India. Hence, the author argues, it is very important for alert citizens to understand the phenomenon of corruption and then bond together to combat it.
Crony Capitalism in India provides a comprehensive and scholarly examination of the important topic of crony capitalism, filling an important gap in the market. Bringing together experts from various backgrounds, it addresses the key underpinnings of this complex and multifarious issue. Given the emergent nature of the Indian economy, this book provides important information for decision makers in both government and business to help establish a robust institutional framework that is so desperately needed both in India and globally.
This book focuses on the legal and social aspects of corporate governance through doctrinal and empirical research papers presented at the 9th International Conference on Governance Fraud Ethics and Social Responsibility held at National Law University Delhi in 2018. The papers encompass the internal and external factors that affect the interests of a company’s stakeholders, including shareholders, customers, suppliers, government regulators and management, and several other important players. The book provides better clarity on the concept of corporate governance and how it is intertwined with factors such as sustainability, social responsibility and the role of government, taxation and audit, and shareholder engagement.
The malaise of corruption has become deeply embedded in the political and social fabric of the Indian society. The increased frequency and scale of corruption have had deleterious effects on a wide range of issues. Corruption, therefore, must be viewed not just as an issue of law and order or of the criminal justice system; instead it has larger and adverse implications for development initiatives, transparency in administration, economic growth, access to justice, and human rights. This important and timely work adopts a new approach for analysing corruption—corruption as a violation of human rights. Highlighting the inherent deficiencies in the existing institutions, mechanisms, laws, and law enforcement agencies, the book strongly proposes the adoption of a multi-pronged strategy for eliminating corruption. This includes the creation of a new legislative framework, an effective institutional mechanism, a new independent and empowered commission against corruption, and greater participation of the civil society. It also compares India's experiences of combating corruption with many societies in Asia including Singapore and Hong Kong.
These principles of corporate governance, endorsed by the OECD Council at Ministerial level in 1999, provide guidelines and standards to insure inclusion, accountability and abilit to attract capital.
UN sales no.: E.98.III.B.3
This insightful Research Handbook contributes to the theoretical and practical understanding of corporate purpose and personhood, which has become the central debate of corporate law. It provides cutting-edge thoughts on the role of corporations in society and the nature of their rights and responsibilities.
State-owned enterprises (SOEs) are present in key sectors of the economies around the world. While they can provide an important public service, there is widespread concern that their activities are negatively affected by corruption. However, there is limited cross-country analysis on the costs of corruption for SOEs. We present new evidence on how corruption affects the performance of SOEs using firm level data across a large number of countries. One striking result is that SOEs perform as well as private firms in core sectors when corruption is low. Taking advantage of a novel database reforms, we also show that SOE governance reforms can generate significant performance gains.
This review of Corporate Governance in Costa Rica was prepared as part of Costa Rica’s accession process for OECD membership. During the three-year period of the review, the government made substantial progress in strengthening its institutional and legal framework in line with the G20/OECD Principles of Corporate Governance and OECD Guidelines on Corporate Governance of State-Owned Enterprises (SOEs).