| 1 |
Author(s):
Gonzalo Jiménez-Seminario.
Page No : 1-12
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THREE MODES OF CORPORATE GOVERNANCE: A CALL TO REFLECTION & EFFECTIVE ACTION-A NOTE
Abstract
The purpose of this note is reflecting on ways boards of directors can renovate their work practices and specially, deal with decision-making in contexts of uncertainty à la Knight (1921) . This implies confronting circumstances beyond business-as-usual. I do this from a scholar-practitioner’s perspective, under the precept that there is nothing as practical as a good theory.
I discuss and examine several potential contributions to tackle such challenges, and then I attempt to combine them in an integrative framework. Initially, I review board design by Jay Lorsch and colleagues. Next, I explore best practices originally proposed by Chait, Ryan & Taylor (2005)’s Governance as Leadership for professionalizing the work of non-profits boards and I explore its potential extension to the corporate world.
| 2 |
Author(s):
Madhu Bala.
Page No : 13-29
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GREEN PRACTICES AND MARKET VALUATION OF INDIAN COMPANIES
Abstract
The focus on green or sustainable investment has become common, and is duly recognized by corporate sector. However, does emphasis on green practices really push market value of enterprise? The existing research over more than four decades has explored mixed, inconsistent, inconclusive or contradictory results. The purpose of this study is to unravel the impact of green practices on market valuation of firms in Indian perspective by using secondary data. In this study, a sample of 195 companies has been analyzed using environmental score of Credit Rating and Information Services India Limited, and other financial data sought from ProwessIQ database of the year 2020-21. The Multiple Regression analysis has discovered a positive and statistically significant relationship between the green initiatives and market valuation of the companies. The results are important for all stakeholders, specially, to the providers of funds; who aspire to widen the coverage, spending, and reporting of green practices among corporates to maximize wealth and welfare for all.
| 3 |
Author(s):
Sunita.
Page No : 30-49
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EXPLAINING THE BUSINESS CASE FOR GENDER DIVERSITY ON BOARDS: CORPORATE GOVERNANCE THEORIES PERSPECTIVE
Abstract
The purpose of this paper is to analyse the corporate governance theories and investigate the business case for gender diversity on corporate boards from the perspective of corporate governance theories. Extant literature on the topics of gender equality, corporate governance, corporate governance theories, women on corporate boards and their impact on governance and organisations has been reviewed and analysed to find support for the gender diversity on corporate boards. Most of the corporate governance theories support the business case for gender diversity on boards. Agency theory, stewardship theory, stakeholders theory, and resource dependency theory elucidate why presence of women directors on boards is good for business. Women directors are equivalent to independent directors, increase effectiveness of boards, improve firm performance and take care of the stakeholders’ interest. Higher representation of women on boards brings value to the boards as well as organisation. Organisation should focus on the strategies to make corporate boards more gender diverse. This paper discusses the issues of gender equality, women empowerment and gender diversity on boards. It adds to the corporate governance literature by explaining and analysing corporate governance theories to explicate the business case for gender diversity on boards
| 4 |
Author(s):
Vipin Aggarwal and Ankush Bhargava.
Page No : 50-67
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DETERMINANTS OF FINANCIAL BEHAVIOUR OF MANAGERS OF SMALL AND MEDIUM ENTERPRISES: EVIDENCE FROM INDIA
Abstract
This paper attempts to highlight the rationality in the financial decision making of the SME’s financial managers that either leads to optimisation in financing activities of the SMEs or closures. Based on systematic review of literature various variables have been identified to study the financial behaviour of the managers of SMEs in India and a structured questionnaire have been constructed and studied on 257 Entrepreneurs/Financial Managers of SMEs in northern region of India, We found the relationship and impact of Demographics and Firm specific factors, Financial Attitude, Financial Knowledge and Financial Performance Measure on the financial management behaviour of the Financial Managers of Indian SMEs. The results reveal that financial knowledge is insignificant in terms of financial management behaviour of the manager and financial attitude is major component which governs the financial behaviour of the SMEs financial managers. Practically the results highlight the issue of financial rationality in the financial decision making of the Indian SMEs.
| 5 |
Author(s):
Yogesh.
Page No : 68-80
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OFF-BALANCE SHEET ACTIVITIES ON PERFORMANCE AND STABILITY OF COMMERCIAL BANKS: SYSTEMATIC LITERATURE REVIEW (SLR)
Abstract
This paper investigates the nature of off-balance sheet activities and its role in performance and
stability of commercial banks. Explain about depth of systematic literature review (SLR). We
examined the trend of off-balance sheet activities with the help of contingent liabilities and total
income of different ownership group of banks. It seems private banks are more effective than public
sector banks in generating total income. Furthermore their treatment of off-balance sheet activities
in terms of risk management seems sound as compared to public sector banks. The observations
also indicate a positive relationship between contingent liabilities and the total income of different
ownership groups of banks, as a research question seeking empirical evidence. This indicates an
opportunity for banks to improve their overall profitability by engaging in different types of
contingent liabilities.
| 6 |
Author(s):
Harish kumar and Pinki .
Page No : 81-120
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CORPORATE GOVERNANCE AND FORENSIC ACCOUNTING: A SYSTEMATIC LITERATURE REVIEW
Abstract
The objective of this study is to present a systematic literature review by analyzing the existing literature on corporate governance and forensic accounting and thereby identifying the existing gap in the respective fields. By using the scientific method of systematic literature review (SLR) on high quality articles published in English language from Scopus database during 2002-2021, the study highlights that forensic accounting (FA) practice has become very critical in unravelling the complex accounting exercise that has muddled financial reports and the acceptance of new rules and regulations regarding corporations’ governance in the world has transformed the Corporate Governance (CG) framework. This study presents framework for future research using forensic accounting as a preventive and investigative measure for fraud control. Results reveal that forensic accounting is the application of financial and investigative skills conducted to resolve the unresolved issues, thus strengthening corporate governance. Forensic Accounting can assist corporate governance by removing potential fraud risks and supplementing internal controls.
| 7 |
Author(s):
Sameer Lama.
Page No : 121-128
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BOOK REVIEW – CREATING, BUILDING AND SUSTAINING AN INSTITUTION – A MOMENTOUS JOURNEY OF INSTITUTE OF PUBLIC ENTERPRISE
Abstract
Institutions are created, led and sustained by visionaries. The process of creation takes time,
energy, dedication, discipline, and determination. India has created many institutions during the
last 75 years of its independence. Among the many institutions that India today takes pride to own
and sustain, the Institute of Public Enterprise commonly referred by its acronym IPE is one such
institution which has carved a niche for itself in systematic and sustained study of issues relevant
to the formulation, implementation, review, monitoring and assessment of policies and
programmes concerning public sector enterprises. With its unflinching contribution towards nation
building and facilitating better public sector enterprises in India, the IPE today stands as a distinct
and a quality institution having been awarded ‘SAQS Accredited’, the International Quality
Assurance label by AMDISA.
