What good corporate governance is all about

by Pratip Kar, for Rediff Business, December 15, 2009.

Corporate governance codes work only where firms believe working in a legal, ethical and transparent fashion also means good business, says Pratip Kar.

It is not in dispute that good corporate governance is all about commitment of a company to run its businesses in a legal, ethical and transparent manner, and that the tone must be set at the top.

But are companies in India convinced that good business is all about good corporate governance? Do companies really believe that good corporate governance has got more to do with leadership?

Do companies feel that the codes of corporate governance are not all about compliance, but they have an underlying purpose which lies beyond compliance?

These are important questions, and the leadership teams of companies must seriously come face to face with these, irrespective of whether any “big brother” is watching. Company managements and members of the Boards often do not have a basic understanding of what good corporate governance is.

At a recent colloquium on Board leadership, the participants who were directors or belonged to senior management of medium-sized companies were asked to write down anonymously on a piece of paper what each one understood by corporate governance…(continue reading)

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