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7/28/2019 Robin Cover Page

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A

SEMMINAR REPORT

ON

CORPORATE GOVERNANCE

MASTER OF BUSINESS ADMINISTRATION

Session 2012-2014

Submitted To Submitted By

Mr. Ankush Singla Robin Kumar

Faculty, JMIT MBA 1st Sem

Roll No-2012027

Seth Jai Prakash Institute Of Engg. And Technology,

Radaur (yamunanagar)-135001

(Affilated to Kurukshetra University, Kurukshetra).


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DECLARATION

I, Robin Kumar hereby declare that the seminar report entitled

CORPORATE GOVERNANCE submitted by me in partial fulfillment

of the award of the degree of MASTER OF BUSINESS

ADMINISTRATION it is original work conducted by me and the

information and data given in the report is authentic to the best of my

knowledge. This study is not being submitted to any other university, for

the award of any other degree.

ROBIN KUMAR

Roll No. : 2012027

MBA 1st Sem


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ACKNOWLEDGEMENT

I take this opportunity to express my gratitude to all those who have helped

me in perusal of the study and make it possible for this report in your hand

today.

Even the best effort may not prove successful without proper guidance. For

a good report one needs proper time, energy, efforts, patience, and

knowledge. But without any guidance it remains unsuccessful. I have done

this report with the best of my ability and hope that it will serve its

purpose.

To be or not to be is not anything which matters, how to be thankful is

what really matters

It was really a great learning experience and I am really thankful to my

faculties, who not only helped me in this successful completion of this

report but also spread his precious and valuable time in expanding my

knowledge base.

I wish to acknowledge my gratitude towards JMIT college (Radaur), my

friends and all those person who are responsible for the successful

completion of this project.

Robin Kumar


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PREFACE

I feel great pleasure in presenting this work on CORPORATE

GOVERNANCE in fulfillment of the condition laid down by the Kurukshetra

University Kurukshetra for the partial fulfillment for the Master Of Business

Administration (MBA). In this work great care has been taken to present the

detail simply in lucid manner and fairly with great precision.

I sincerely hope that the method of presentation of this project will enable the

readers of grasp of detail with satisfaction. If it do so I shall simply feel

regarded for the gain taken of course, the extent to which we have succeeded in

doing justices only be the readers. It is my sincere hope that this project will befound useful in the future by the students undertaking the same project.


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LITRATURE REVIEW Author(s): Rashmita Sahoo (Corporate Governance in Indian Financial

Service Sector )

Abstract: The principles of good governance are not new phenomena inIndia. Today adoption of good corporate governance practices has

emerged as an integral element for doing business. As India is growing to

be a prime destination of global business interest so its important for the

Indian companies to be transparent and clear enough in following

corporate governance laws for international investors. The purpose of this

paper is to examine the goals of corporate governance in the financial

services sectors from a theoretical perspective. This paper also examines

the purposes for which financial institutions exist, the different sourcesfrom which those institutions derive their funds, the reforms ordained by

the SEBI and the background of SEBI amendments to clause 49 of the

listing agreement.

Author(s): Andrew Mullineux; (Is there an Anglo-American CorporateGovernance Model?)

Abstract: This paper questions the existence of an Anglo-American

model of corporate governance and capitalism. Significant differences

between the UK and US models of corporate governance are identified.The UK is a principles orientated system based more on voluntary codes

operated on a comply or explain basis, whilst the US system is more

rules based and litigious. The UK focuses more on ex ante protection of

outside shareholders, whilst the US focuses on ex post protection of

share traders. Institutional investors are expected to play a more

prominent and wide ranging role in corporate governance in the UK than

the US, though the evidence on their voting behavior and wider

engagement activity is not readily available. Author(s):Chaiyasit Anuchitworawong (The Value of Principles-Based

Governance Practices and the Attenuation of Information Asymmetry )

Abstract: This paper focuses on the value of principles-based governance

practices. Using the sample of Thai listed firms; we investigate whether

firms that comply with the principles of good corporate governance incur

lower financing cost and have stronger financial standing. The overall

results suggest that the firms on average have significant improvements in

major areas of corporate governance practices such as disclosure and


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transparency, the equitable treatment of shareholders, and the

responsibilities of the board.

Author(s):Meghna Rishi, Anjana Singh(CORPORATE GOVERNANCEAND INTERNATIONAL BEST PRACTICES: THE CASE OF

SATYAM)

Abstract: Corporate Governance (CG) scandals saw the light of dawn in

the UK in late1980s and later, in the USA in the late 1990s (Martin,

2009). India too witnessed a corporate fiasco at Satyam Computer

Services Limited (SCSL), a leading player in the IT and BPO industry.

This paper, hence, highlights the role of efficient and ethical corporate

governance practices, in safeguarding investors interests. The paper is

based on qualitative research and introduces the best practices of

corporate governance in the UK, USA and India, under three criteria-

Corporate governance and ownership functions; Accounting and

Financial Reporting and Other Regulations.

Author(s):Shan Yuan George; Round David K(China's CorporateGovernance: Emerging Issues and Problems )

Abstract: As China approaches economic superpower status, its need to

achieve considerably higher standards of corporate governance is

becoming paramount. Despite impressive recent advances in its capital

and stock exchange markets, the on-going overhang of state ownership in

its former state-owned enterprises, together with an unwieldy and

ineffective dual board governance system, has left China facing major

corporate governance problems that will deter the private investment

necessary for its continued growth. This paper illustrates these problems,

and suggests possible reforms that will provide the foundation for the

efficient further development of China's capital markets that is needed to

help China become a major economic superpower.

Author(s):Jan folke Siebels(The Implications for Corporate Governance)Abstract: In recent years, increasing scholarly attention has been directed

toward the field of family business research. Based on an exhaustive

sample of 235 publications, this article provides a comprehensive review

and a critical assessment of the theoretical underpinnings and corporate


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governance issues in family business research. Three predominant

theoretical perspectives, namely principal-agent theory, stewardship

theory and the resource based view of the firm, have emerged and

provide empirical evidence that family businesses significantly differ

from non family firms in important dimensions such as agency costs,

competitive advantages or corporate governance structure.

Author(s):Adrian C. H.Lei; Frank M.Song(Board Structure, CorporateGovernance and Firm Value)

Abstract: This article investigates the effects of board structure and

internal Corporate-Governance (CG) mechanisms on firm value in an

emerging market with concentrated ownership and family involvement.

Using a unique Hong Kong (HK) panel dataset from 2001 to 2009, we

create a board-structure index that captures board independence, balance

of power and conflicts of interest. We also construct other major CG

mechanisms to correctly specify our model. We combine the 13 CG

attributes, which consist of binary and continuous variables, with four CG

mechanisms, using Principal Component Analysis (PCA). In contrast

with prior evidence from developed markets, our results indicate that

firms with independent board structure are associated with higher firm

value and are both statistically and economically significant. The results

also suggest that board structure is the most important among the major

internal CG mechanisms.

Author(s): Yves Fassin

Abstract

Stakeholder theory advocates that firms bear responsibility for the

implications of their actions. However, while a firm affects or can affectstakeholders, stakeholders can also affect the corporation. Previous

stakeholder theorizing has neglected the reciprocal nature o

responsibility. The question can be asked whether-in a spirit o

reciprocity, loyalty and fairness-stakeholders should treat the corporation

in a fair and responsible way. This study based on different definitions o

stakeholders argues that various stakeholder attributes differ for differentcategories of stakeholders. This analysis presumes that the attribute of

stakeholder reciprocity can probably be restricted to real stakeholders,


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labeled stake owners: genuine stakeholders with a legitimate stake, the

loyal partners who strive for mutual benefits. Stake owners own and

deserve a stake in the firm. Stakeholder reciprocity could be an

innovative criterion in the corporate governance debate as to who should

be accorded representation on the board. Corporate social responsibilityshould imply corporate stakeholder responsibility.

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