Stock Market Capitalization and Corporate Governance in India
"Corporate governance in India is inadequate and does not protect shareholders sufficiently. The wealth of investors is systematically destroyed in India due to the presence of a large number of low capitalized companies (LCCs) whose stock is barely traded. These continue to litter the landscape of Indian stock exchange without being swiftly weeded out. This volume discusses various instruments of corporate governance for protecting investors' interest in an emerging market environment with reference to global practices." "The book emphasizes the importance of concerted efforts by governments, regulatory authorities, and business associations, in encouraging a culture of corporate responsibility, transparency, and accountability, given the high social and economic costs associated with governance crises."--BOOK JACKET.
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Corporate Governance in India
Indian Financial System and its Governance Structures
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accounting activities agency costs agency theory assets asymmetric information Author's own calculation banks and FIs BSE Sensex capital markets cent chapter corporate control corporate governance corporate sector costs of debt decisions disclosure dividend payments dividend payout dividend policy economic effective efficiency emerging markets equity markets external financial institutions firm's free cash flow functioning funds growth holders incentive increase India Indian firms Industry Group information asymmetry inside shareholders insider ownership internal investment investors large creditors large number liquidity listed companies loans managerial managers market capitalization market for corporate market for lemons market value maximizing mechanisms ment mergers minority shareholders monitoring nominees number of LCCs owner-managers performance portfolio problems profits projects Random Effects Estimation rates regulations regulatory result retained earnings rights issues risk role Sample LCCs SEBI share price Source stock exchanges stock markets Table takeover target firm tion trading variables voting