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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, Corporate ownership & control, vol. 8, no. 1, Fall, pp. 430-446.

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Title An empirical investigation of hybrid corporate governance systems in large firms: Evidence from India
Author(s) Thyil, Vijaya
Young, Suzanne
Journal name Corporate ownership & control
Volume number 8
Issue number 1
Season Fall
Start page 430
End page 446
Total pages 17
Publisher Virtus Interpress
Place of publication Sumy, Ukraine
Publication date 2010
ISSN 1727-9232
1810-3057
Keyword(s) Corporate governance
Hybridization
Large firms
India
Summary The heightened pace of corporate governance reforms has focused attention on country-specific
governance models. Considerable debate has ensured as to whether the outsider Anglo-Saxon system
or the insider Continental system is most applicable to India. This paper reports the results of a study
of Indian governance which used a primary qualitative approach of twelve interviews of key executives
of five large firms in 2008 as well as publicly available documents. A literature review establishes six
key characteristics that distinguish the two major systems. 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 of India, clearly
identifying similarities and differences to the two major governance models. In drawing on rich
interview data, the paper delves into the national characteristics of India that have influenced the
hybrid model such as stewardship, corporate social responsibility and partnerships between the
corporate and community sectors. The evolution of the governance practices and the rationale for their
existence are also examined. The paper demonstrates that the hybrid governance system has emanated
from country-specific culture including values and ideologies, and political orientation of socialism.
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.
Language eng
Field of Research 150303 Corporate Governance and Stakeholder Engagement
Socio Economic Objective 970114 Expanding Knowledge in Economics
HERDC Research category C1 Refereed article in a scholarly journal
HERDC collection year 2010
Copyright notice ©2010, Virtus Interpress
Persistent URL http://hdl.handle.net/10536/DRO/DU:30032665

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Every reasonable effort has been made to ensure that permission has been obtained for items included in DRO. If you believe that your rights have been infringed by this repository, please contact drosupport@deakin.edu.au.