TITLE

Ownership Patterns and Effectiveness of Clause 49, to Instill Corporate Governance in the Indian Corporate

AUTHOR(S)
Suresh, Shanti
PUB. DATE
March 2011
SOURCE
SIES Journal of Management;Mar2011, Vol. 7 Issue 2, p129
SOURCE TYPE
Academic Journal
DOC. TYPE
Article
ABSTRACT
Clause 49 mandates the corporate governance norms to be followed by corporate India. This has been like other legislations borrowed from the United States - a replica of the Sarbanes Oxley Act - 2002. Sarbanes Oxley Act that was a legislature initiated by the US parliament post Enron, to regulate and monitor the activities of the listed corporate, and ensures that the interests of the owners are protected against the corporate misfeasance by professional managers. India followed suit with the initiative taken by Confederation of Indian Industries - CII and subsequently taken over by SEBI, the responsibility to enact a legislature which mandates compliance with stipulated norms of corporate governance inducing transparency and disclosure in all the financial transactions undertaken by the listed corporate. This paper makes an attempt to study the ownership patterns prevalent in the Indian corporate and tries to validate the impact of the listing agreement norms in protecting the interests of the minority, and preventing corporate misfeasance Five sectors have been identified that are of strategic importance to Indian Business, and the ownership patterns are evaluated to identify the degree of effectiveness of Clause 49.
ACCESSION #
84409566

 

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