
“THE PRICE OF greatness is responsibility.” Legendary British Prime Minister Winston Churchill said these words at Harvard University in 1943. While Churchill wasn’t speaking about the operation and management of companies, his words do hold as sage advice in terms of corporate governance.
They are even more relevant in the Indian context, given that several firms have plans in terms of listing and going global but are often reluctant to implement corporate governance practices such as disclosures and transparency, board composition and succession planning.
Even companies on this year’s BT500 list have seen their share of problems—be it related to corporate governance (such as at PTC Financial Services, Zee or Adani Enterprises), or issues of cash burn and post-IPO value loss in the start-up sector (such as at Zomato and Paytm). Many reports have highlighted some of these issues. For instance, a recent report by FTI Consulting found that firms on the Nifty 100 Index have an average corporate disclosure score of 6.5 out of 10. Its India Disclosure Index 2023 reveals that nine of these Top 100 Indian firms are classified as corporate disclosure champions, with scores of 9 or above, with Infosys scoring a perfect 10. However, 76 per cent of them do not have independent board evaluation by a third party, while 48 per cent do not have an independent mechanism and metric to track anonymous whistle-blowing.
Denne historien er fra December 10, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent ? Logg på
Denne historien er fra December 10, 2023-utgaven av Business Today India.
Start din 7-dagers gratis prøveperiode på Magzter GOLD for å få tilgang til tusenvis av utvalgte premiumhistorier og 9000+ magasiner og aviser.
Allerede abonnent? Logg på

VINE TO VINO
Calling all wine lovers to explore India's wine trails and vineries

TIGHT FINISHES AT TOLLY
RAZOR-SHARP COMPETITION WAS THE ORDER OF THE DAY FOR ROYAL RANTHAMBORE BT GOLF'S KOLKATA LEG AT THE HISTORIC TOLLYGUNGE CLUB

Helping More Indians Fly
We need to think and dream big, and combine that with flawless and speedy execution, accompanied by deep reforms

Fighting The Dragon
China's subsidies and export strategy have accelerated its dominance in the EV space. Amid fears of EV 'dumping', can India withstand the Chinese onslaught?

Buckle up for the Ride of a Lifetime
Many IPOs flunked, while several fell below ethical governance standards, and quite a few bombed. However, the capital markets have their own way of self-regulating excesses

❝Slow down but stay involved"
IndiQube provides flexible workspaces

Ready for Take-off
Total passenger traffic has grown from around 120 million to over 236 million per annum. Indian aviation sector continues to soar, and the best is yet to come

BURMANS IN CONTROL
After a long battle, the Burman family has seized control of Religare. It needs to infuse money and get it back on track

Reimagining India's Public Sector
India's policies since 1991 have been to get government out of business' way. Robust public sector is needed for providing basic needs equitably

No Theme Lasts Forever
A sensible investment strategy involves ignoring the noise and using a systematic criterion to pick assets. A good investment strategy can be boring