Professional Documents
Culture Documents
Major Models in Consideration Why the Models Differ? Continental European Model Indian Model The US and the UK Model The Chinese Model Emerges
3. MAJOR MODELS IN CONSIDERATION Three major models can be distinguished: Continental European model Indian Model US and UK Models
4. WHY THE MODELS DIFFER? The variety of capitalism in which they are embedded (Capitalism by its core nature does not differ. Some of the mechanisms of the systems performance varies in different countries and regions. The major philosophy of capitalism remains the same, despite these differences) Differences in emphasis of the corporations on the interest groups Differences in dealings of the business with the stakeholders Differences in the business entity formation
8. INDIAN MODEL
The SEBI Committee on Corporate Governance defines CG as: acceptance by the management of the inalienable rights of shareholders as the owners of the corporation and of their own role as the trustees on behalf of the shareholders. It is about:
Commitment to values Ethical business conduct Making a distinction between personal and corporate funds in the management of a company
9. INDIAN MODEL
It is suggested that: The Indian Model is drawn from the Gandhian principle of trusteeship
The Directive Principles of Indian constitution However, such conceptualization of the corporate objectives is also prevalent in AlgloAmerican and most other jurisdictions
LITERATURE
Khalid Abu Masdoor (2011), Ethical Theories of Corporate Governance. International Journal of Governance, 1 (2): 484-492. Monks, Robert A.G. and Minow, Nell, Corporate Governance (Blackwell 2004) ISBN Monks, Robert A.G. and Minow, Nell, Power and Accountability (HarperBusiness 1991), full text available zekmeki, Abdullah, Mert (2004) "The Correlation between Corporate Governance and Public Relations", Istanbul Bilgi University. Sapovadia, Vrajlal K., "Critical Analysis of Accounting Standards Vis--Vis Corporate Governance Practice in India" (January 2007 Shleifer, A. and R.W. Vishny (1997), A Survey of Corporate Governance. Journal of Finance, 52 (2): 737-783. Skau, H.O (1992), A Study in Corporate Governance: Strategic and Tactic Regulation (200 p) Sun, William (2009), How to Govern Corporations So They Serve the Public Good: A Theory of Corporate Governance Emergence, New York: Edwin Mellen Qiao Liu. Corporate Governance in China: Current Practices. Economic Effects, and Industrial Determinants. 2005 Bhagat Sanjai, Carey, Dennis, Elson, Charles, 1999. Director, Ownership, Corporate Performance, and Management Turnover. The Business Lawyer 54, 885-919. Bushman, Robers H, and Abbie J. Smith, 2001. Financial Accounting Information and Corporate Governance. Journal of Accounting and Economics 32, 237-333 Cha, Laura, 2001. The Future of Chinas Capital Markets and the Role of Corporate Governance, Luncheon Speech at China Business Summit. Chan, D.H., J.P.H Fan, T.J. Wone, 2004. Do Politicians Jeopardise Professionalism?......Working paper, Sanghai University of Finance and economics and Chinese University of Hong Kong.