Business Ethics and Corporate Governance, Second Edition

THE NEED FOR CORPORATE GOVERNANCE IN INDIA

If corporate governance has to take root in a country it will, to a large extent, depend on the economic and business environment that has been created by public governance in the country; there cannot be good corporate governance if public governance is weak. The dramatic collapse of corporations like Enron has highlighted the reality of how companies, which were the darlings of the stock market and held up as models for vigorous and innovative growth, can ultimately fall like a pack of cards when fraud and dishonesty became their operational guide. The association of the accounting firm, Andersen has also raised a doubt about the credibility of even highly regarded global players. In the Indian context, ...