This paper explores the evolution and nuances of corporate governance, tracing its development from the pre-independence era in India to the modern frameworks shaping global practices today. The study begins by examining early governance mechanisms during colonial rule, highlighting the influence of British colonial practices on corporate structures in India. It then delves into the post-independence era, focusing on India's transition toward more formalized corporate governance frameworks, influenced by both domestic needs and global standards.
The paper further compares governance practices in major jurisdictions, starting with the United States, where landmark regulations such as the Sarbanes-Oxley Act and proxy voting systems shaped corporate accountability and transparency. The governance model in the United Kingdom is explored next, with a focus on the UK Corporate Governance Code, emphasizing board composition, executive pay, and stakeholder engagement.
draws lessons from other jurisdictions, including Europe, Japan, and emerging markets, offering valuable insights for governance practices globally. The paper concludes with an analysis of the applicability of these global practices to India, considering the unique cultural, economic, and regulatory landscape of the country. The study underscores the dynamic nature of corporate governance and its adaptation to diverse global contexts.
