Research Assistant Vacancy for a Project on Corporate Governance Applications for the post of research assistants are invited from the students who are passionate about contemporary issues in corporate governance. Work is remunerated with provision for performance based bonus and other referral opportunities at the end of the tenure. Assignment will begin from 17th April & will end on 17th June. Continue Reading →
Tag Archives | India
Board Evaluation Practices in India: Background
CimplyFive Corporate Secretarial Services Pvt. Ltd. (CimplyFive), pioneer in offering research and technology based solutions for compliance with the Companies Act 2013, and InGovern Research Services Pvt. Ltd. (InGovern), India’s first proxy advisory and a premier corporate governance research and advisory company, released their report Board Evaluation Practices in India: A Study of Top 100 Companies in 2015. Board Evaluation is a new practice for many companies mandated by the Companies Act, 2013 in India for the first time. This study is the first ever analysis of the Board Evaluation Practices since being mandated in India. Continue Reading →
What is corporate governance? It is a process set up for the firms based on certain systems and principles by which a company is governed. The guidelines provided ensure that the company is directed and controlled in a way so as to achieve the goals and objectives to add value to the company and also benefit the stakeholders in the long term. Continue Reading →
We last explored the topic of gender diversity on boards, in particular the underrepresentation of women on them, late in 2012, but much has happened globally on the subject since then. More companies have adopted regulation on the issue that range from “comply-or-explain” rules to quotas for the percentage of women on boards.
A 2014 Grant Thornton report, Women in Business: From Classroom to Boardroom, finds more leaders warming to a quota system, with 45% of international business leaders supporting quotas — up from 37% just a year ago.
Below is a brief summary of some of the most recent developments concerning women on boards. Continue Reading →
Cairn India is an oil and gas exploration and production company, headquartered in Gurgaon, India. It is a subsidiary of Vedanta Resources. Cairn India is one of the largest independent oil and gas exploration and production companies in India.
InGovern, India’s first independent proxy advisory and corporate governance research firm. reports that Cairn is giving loan of USD 1.25 billion to a group company, a foreign subsidiary of Sesa Sterlite Limited, at Libor plus 300 basis points for a 2-year period. The company has already disbursed $800 million, even before informing the shareholders. The disclosure is being made post hoc.
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To exhort listed companies and their top executives to follow ‘good business practices’, regulator Sebi cleared new corporate governance norms that require them to justify CEO salaries, put in place whistle-blower policies and have orderly succession plans. Continue Reading →
Shriram Subramanian, the Founder and MD of InGovern Research Services, in a recent interview with “Report Insights” highlighted the importance of proxy advisory firms in Indian capital markets. The extracts of the interview can be read in InGovern’s monthly publication: Governance Watch – December 2012 Newsletter
I was delighted to see that one of the stocks in my portfolio, Infosys ($INFY), has been ranked #1 in corporate governance by IR Global Rankings (“IRGR”). (Infosys is number one for corporate governance practices: IR Global Rankings, The Economic Times, 12/13/2012) That sounds like quite an achievement. Unfortunately, when I tried to find more about the basis of the award, I couldn’t really verify the assessment. From what I know, Infosys has better corporate governance than most, but is it really the best? Continue Reading →
Abstracts from a few papers posted this month to the Social Science Research Newtork.
Hall, Thomas W. and Jörgensen, Fredrik A., Ownership and Performance in Europe (2012). Forthcoming, Review of Business. The authors consider the relationship between performance and ownership concentration in a large number of publicly traded and privately held companies located in smaller European economies (Austria, Belgium, Finland, Ireland, and Ukraine). Continue Reading →
India’s InGovern Research Services Pvt. Ltd. “assists financial institutions and investors that have financial, investment or reputational exposure to public-listed companies in India by providing our clients with corporate governance reports, proxy analysis and proxy voting solutions.” Their recent report, Analysis of Mutual Funds Voting for 2011-12, finds little progress when it comes to mutual funds participating in corporate governance and taking their fiduciary responsibilities regarding proxy voting seriously. Continue Reading →
The following is a guest post by by Sonia Jaspal from her blog, Sonia Jaspal’s RiskBoard, originally posted on June 12, 2012. I’ve added a few links, a couple of ads and reformatted the post slightly. Continue Reading →
To do more jumbo deals in a tougher world, Indian firms need to tackle a glaring area of weakness. This is their complex structures, which mean cash flows are spread thinly, and their dislike of issuing equity for fear of diluting their controlling shareholders. Both factors combined make it hard to marshal resources without resorting to risky levels of debt. India’s second-biggest group, Reliance Industries, scores well on the first count, and has the financial firepower to spend perhaps $15 billion safely. But few others do. On February 25th Vedanta, a London-listed natural-resource firm with assets mainly in India, launched an operation to merge its domestic units and clear up a sprawling empire. More firms need to do the same.
That’s the conclusion of Running with the bulls: Are Indian firms really going to take over the world?, The Economist, 3/3/2012. Although they’ve gotten a lot of press, India’s share of global cross-border deals by value has been relatively small, about the same as buyers from Brazil and Russia, well China. Moving away from holding chains with dominant shareonwers may hold a key to enabling more promising acquisitions.
I had run across InGovern before – it provides corporate governance research and proxy voting services regarding public companies in India – but Mohandas Pai backs corporate governance research start-up in the Hindu Business Line really caught my attention. Continue Reading →