THE CORPORATE GOVERNANCE REVOLUTION: A COMPARATIVE STUDY BETWEEN INDIA AND UNITED KINGDOM
DAS, NAMRATA (2008) THE CORPORATE GOVERNANCE REVOLUTION: A COMPARATIVE STUDY BETWEEN INDIA AND UNITED KINGDOM. [Dissertation (University of Nottingham only)] (Unpublished)
This study aims to provide a broad yet comprehensive understanding of corporate governance in the international context. After an exhaustive review of the social sciences literature, the dominant theoretical paradigms and debates on corporate governance have been highlighted. Next, the study traces the trajectory of corporate governance development in the United Kingdom and India. Landmark reports and revolutionary codes of conduct which form the backbone of existing corporate governance systems in the two countries have also been briefly discussed. A chronological and objective study of the evolution of corporate governance in India and UK is followed by a comparison between existing governance practices and principles in both countries. Key similarities and dissimilarities have been pointed out. The comparison has been carried out on the basis of certain identified drivers or mechanisms of corporate governance which are deemed to improve the effectiveness of the overall system. In the light of the research undertaken instead of categorizing either one system or principle as better than the other, it has been pointed out that there is no universal one -size -fit all approach to corporate governance. Following the recommendations made by other important academics the study concludes by arguing for a holistic approach. A well balanced holistic approach to corporate governance amalgamates both voluntary regulations with statutory laws thereby neutralizing the trade offs in both competing approaches to create a synergy. Finally, certain key limitations which are inherent to the study have been acknowledged along with suggestions for future potential areas of research.
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