Introduction to Corporate Governance in India
Journal Title: Zarządzanie i Finanse - Year 2013, Vol 11, Issue 2
Abstract
The aim of the paper is to present the genesis and development of corporate governance in India. Since the end of the XV-th century there was fierce competition between Portugal, Holland, England and France aimed at conquering India. Finally, Great Britain managed to gain hegemony in India at the beginning of the nineteenth century. The British policy strongly influenced the shape and development of India’s economy and corporate governance. After gaining independindependence in 1947 India started implementing a socialistic economy. Financial scandals and difficulties in the late 1980s and early 1990s forced the government to develop a market economy. India has been very successful in achieving this. The three stages that may be distinguished in the development of corporate governance in India are summarized in the paper, i.e. the Managing Agency System (1850–1955), the Promotor System (1956–1991) and the Anglo-American System, which has been in force since 1992. Also the most important Indian corporate governance regulations since 1998 are characterized, and the strong influence of the Anglo-American model is emphasized.
Authors and Affiliations
Magdalena Jerzemowska
Keywords
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