Business Ethics and Corporate Governance, Second Edition

SELF-REGULATION

Self-regulation has been somewhat lagging behind in the area of corporate governance in the country. While admittedly some of the Indian companies compare most favourably with the best elsewhere in the world in the field of professional management and corporate governance, the vast majority has been languishing with outdated practices nurtured during the years of insulated economic environment that obtained in the country for the better part of its post-Independence history. The liberalization initiatives of the nineties have exposed the inefficiencies of many of these organizations which are now trying to come to terms with the paradigm shift in doing business.