An empirical investigation of hybrid corporate governance systems in large firms : evidence from India
Thyil, Vijaya and Young, Suzanne 2010, An empirical investigation of hybrid corporate governance systems in large firms : evidence from India, in IFSAM 2010 : Proceedings of the International Federation of Scholarly Associations of Management World Congress : Justice and Sustainability in the Global Economy, IFSAM, [Paris, France], pp. 1-21.
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The heightened pace of corporate governance reforms has focussed attention on countryspecific governance models. In relation to India, scholars have observed that a hybrid of the outsider Anglo-Saxon system and the insider Continental system is likely. This paper reports the results of a study that investigated the corporate governance system of five large firms in 2008. It presents evidence based on publicly available documents and twelve key executive interviews. The paper initially presents a literature review and establishes six propositions based on the distinguishing features of the two major systems, and then presents the methodology, findings and discussion. The governance characteristics of the Indian firms are classified in terms of the two systems with a view to assessing the extent and nature of hybridization. The findings endorse the hybrid corporate governance system in India. However, the scope of this study was limited to large listed companies and business groups. Future research should use a larger and more diverse sample including private and unaffiliated firms for outcomes that can be generalized.
Reproduced with the kind permission of the copyright owner.
Field of Research
150303 Corporate Governance and Stakeholder Engagement
Socio Economic Objective
970115 Expanding Knowledge in Commerce, Management, Tourism and Services
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