Report on Corporate Governance - Tapa dura

The concept of corporate governance has been attracting public attention for quite some time in India. The topic is no longer confined to the halls of academia and is increasingly finding acceptance for its relevance and underlying importance in the industry and capital markets. Progressive firms in India have voluntarily put in place systems of good corporate governance. Internationally also this concept has been accepted for a long time and the financial crisis in emerging markets has led to renewed discussions and inevitably focused them on the lack of corporate as well as governmental oversight. Strong corporate governance is indispensable to resilient and vibrant capital markets and is an important instrument of investor protection. Internationally, a growing school of influential thinkers advocate that corporate governance measures should be more by self discipline and market forces, rather than by legislation and regulation. This, of course, is unexceptionable and deserves full support. Although India has been fortunate in not having to go through the pains of massive corporate failures such as Enron and WorldCom, it has not been found wanting in its desire to further improve corporate governance standards. In view of the increasing realisation of the importance of Corporate Governance, Academic Foundation has brought together following eight important reports on the subject and also the Sarbanes Oxley Act 2002.