Pub Date : 2017-11-27DOI: 10.1177/0974686217735924
K. R. Pillai
Abstract Business is obligatory to society as it flourishes in the very social eco-system. Socially responsible, ethically upright and environmentally sustainable business solutions will endure spatially and temporally. The governmental initiatives to put corporate social responsibility (CSR) in the core business agenda acknowledge the policy engagement in promoting socially responsible business in a country. The present article is the outcome of a country-specific study examining the CSR mandates in a historical perspective in India in general and the domain of Companies Act 2013 in particular. The approach of the study is desk research. The study has observed that the recent mandate of India in this regard is to align the CSR engagements with corporate performance through a process of internalisation and institutionalisation.
{"title":"Corporate Social Responsibility in India: A Journey from Corporate Philanthropy to Governance Mandate","authors":"K. R. Pillai","doi":"10.1177/0974686217735924","DOIUrl":"https://doi.org/10.1177/0974686217735924","url":null,"abstract":"Abstract Business is obligatory to society as it flourishes in the very social eco-system. Socially responsible, ethically upright and environmentally sustainable business solutions will endure spatially and temporally. The governmental initiatives to put corporate social responsibility (CSR) in the core business agenda acknowledge the policy engagement in promoting socially responsible business in a country. The present article is the outcome of a country-specific study examining the CSR mandates in a historical perspective in India in general and the domain of Companies Act 2013 in particular. The approach of the study is desk research. The study has observed that the recent mandate of India in this regard is to align the CSR engagements with corporate performance through a process of internalisation and institutionalisation.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"176 - 184"},"PeriodicalIF":0.0,"publicationDate":"2017-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217735924","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43261875","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-11-27DOI: 10.1177/0974686217738683
Deepa Mangala, P. Kumari
Abstract Fraud has emerged as an undesirable offshoot of human greed and pressure to perform in growing corporate world. It has led to erosion of stakeholders’ confidence across the globe. Now, they see the annual reports and other corporate filings with scepticism. Despite increasing instances of fraud, the anti-fraud mechanism of the business organisations is not up-to-date. The present study aims to examine the effectiveness of fraud detection and prevention methods used by corporate sector. A survey of 336 auditors seeking their perception about effectiveness of various anti-fraud methods has been conducted. The findings reveal that corporate governance is the most effective tool against fraud. Use of information technology, timely audit, regular inspection and corporate policies and procedures, also, play a vital role in curbing fraudulent practices in an organisation. Thus, the findings suggest that expenditure on effective anti-fraud methods should not be viewed as an expense; instead, it must be considered as an investment as it saves from the potential losses due to fraud and damage to business stability, revenue and image.
{"title":"Auditors’ Perceptions of the Effectiveness of Fraud Prevention and Detection Methods","authors":"Deepa Mangala, P. Kumari","doi":"10.1177/0974686217738683","DOIUrl":"https://doi.org/10.1177/0974686217738683","url":null,"abstract":"Abstract Fraud has emerged as an undesirable offshoot of human greed and pressure to perform in growing corporate world. It has led to erosion of stakeholders’ confidence across the globe. Now, they see the annual reports and other corporate filings with scepticism. Despite increasing instances of fraud, the anti-fraud mechanism of the business organisations is not up-to-date. The present study aims to examine the effectiveness of fraud detection and prevention methods used by corporate sector. A survey of 336 auditors seeking their perception about effectiveness of various anti-fraud methods has been conducted. The findings reveal that corporate governance is the most effective tool against fraud. Use of information technology, timely audit, regular inspection and corporate policies and procedures, also, play a vital role in curbing fraudulent practices in an organisation. Thus, the findings suggest that expenditure on effective anti-fraud methods should not be viewed as an expense; instead, it must be considered as an investment as it saves from the potential losses due to fraud and damage to business stability, revenue and image.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"118 - 142"},"PeriodicalIF":0.0,"publicationDate":"2017-11-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217738683","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43695388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-01DOI: 10.1177/0974686217701464
E. G., K. C. Kabra
Abstract This article empirically investigates the impact of corporate governance attributes on companies’ decision to disclose environmental information since corporate governance ensures fair, responsible, credible and transparent corporate behaviours to its stakeholders. The corporate governance attributes used in the study are board size, chief executive officer duality, domestic institutional ownership and foreign institutional ownership. Environmental disclosures are measured by a checklist of items based on Global Reporting Initiative guidelines as well as environmental regulations prevailing in India. Disclosure scores are drawn individually by using content analysis of annual reports for a sample of 177 most polluting companies in India for a period of 6 years, that is, from 2009–2010 to 2014–2015. Employing panel data regression model, the result indicates that foreign institutional ownership is the most important corporate governance attribute that engages corporates in environmental disclosure behaviour. In addition to this, firm-specific characteristics such as company size and environmental certification are more likely to influence environmental disclosures. For better environmental disclosure, the Securities and Exchange Board of India (SEBI) should mandate all the companies to disclose detailed monetary and non-monetary information on environmental issues in their companies’ periodic report and also more emphasis should be given to strengthen the corporate governance attributes.
{"title":"The Impact of Corporate Governance Attributes on Environmental Disclosures: Evidence from India","authors":"E. G., K. C. Kabra","doi":"10.1177/0974686217701464","DOIUrl":"https://doi.org/10.1177/0974686217701464","url":null,"abstract":"Abstract This article empirically investigates the impact of corporate governance attributes on companies’ decision to disclose environmental information since corporate governance ensures fair, responsible, credible and transparent corporate behaviours to its stakeholders. The corporate governance attributes used in the study are board size, chief executive officer duality, domestic institutional ownership and foreign institutional ownership. Environmental disclosures are measured by a checklist of items based on Global Reporting Initiative guidelines as well as environmental regulations prevailing in India. Disclosure scores are drawn individually by using content analysis of annual reports for a sample of 177 most polluting companies in India for a period of 6 years, that is, from 2009–2010 to 2014–2015. Employing panel data regression model, the result indicates that foreign institutional ownership is the most important corporate governance attribute that engages corporates in environmental disclosure behaviour. In addition to this, firm-specific characteristics such as company size and environmental certification are more likely to influence environmental disclosures. For better environmental disclosure, the Securities and Exchange Board of India (SEBI) should mandate all the companies to disclose detailed monetary and non-monetary information on environmental issues in their companies’ periodic report and also more emphasis should be given to strengthen the corporate governance attributes.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"24 - 43"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217701464","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45557016","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-01DOI: 10.1177/0974686217699304
J. Paul
Abstract Because of recent failures in the past, the role of Board and the Board monitoring have become important. The directors are expected to be more accountable. In this study, the researcher tries to investigate the relationship between the level of board activity and firm value for firms in FMCG sector over a three-year period from 2010–2011 to 2012–2013. The primary aim of the article is to provide empirical evidence and specifically find out the impact of board activity measured by number of meetings and its impact on firm performance. The results indicate that the attendance in board meetings is significantly positively correlated with ROA. The OLS results with both the performance measures show that the point estimates of attendance at board meetings were significant indicating that attendance in such meetings is perceived to be an indicator of good monitoring activities of the board.
{"title":"Board Activity and Firm Performance","authors":"J. Paul","doi":"10.1177/0974686217699304","DOIUrl":"https://doi.org/10.1177/0974686217699304","url":null,"abstract":"Abstract Because of recent failures in the past, the role of Board and the Board monitoring have become important. The directors are expected to be more accountable. In this study, the researcher tries to investigate the relationship between the level of board activity and firm value for firms in FMCG sector over a three-year period from 2010–2011 to 2012–2013. The primary aim of the article is to provide empirical evidence and specifically find out the impact of board activity measured by number of meetings and its impact on firm performance. The results indicate that the attendance in board meetings is significantly positively correlated with ROA. The OLS results with both the performance measures show that the point estimates of attendance at board meetings were significant indicating that attendance in such meetings is perceived to be an indicator of good monitoring activities of the board.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"44 - 57"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217699304","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42529992","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-01DOI: 10.1177/0974686217701467
Brahmadev Panda, N. M. Leepsa
Abstract This article intends to review the theoretical aspects and empirical evidences made on agency theory. It is aimed to explore the main ideas, perspectives, problems and issues related to the agency theory through a literature survey. It discusses the theoretical aspects of agency theory and the various concepts and issues related to it and documents empirical evidences on the mechanisms that diminish the agency cost. The conflict of interest and agency cost arises due to the separation of ownership from control, different risk preferences, information asymmetry and moral hazards. The literatures have cited many solutions like strong ownership control, managerial ownership, independent board members and different committees can be useful in controlling the agency conflict and its cost. This literature survey will enlighten the practitioners and researchers in understanding, analysing the agency problem and will be helpful in mitigating the agency problem.
{"title":"Agency theory: Review of Theory and Evidence on Problems and Perspectives","authors":"Brahmadev Panda, N. M. Leepsa","doi":"10.1177/0974686217701467","DOIUrl":"https://doi.org/10.1177/0974686217701467","url":null,"abstract":"Abstract This article intends to review the theoretical aspects and empirical evidences made on agency theory. It is aimed to explore the main ideas, perspectives, problems and issues related to the agency theory through a literature survey. It discusses the theoretical aspects of agency theory and the various concepts and issues related to it and documents empirical evidences on the mechanisms that diminish the agency cost. The conflict of interest and agency cost arises due to the separation of ownership from control, different risk preferences, information asymmetry and moral hazards. The literatures have cited many solutions like strong ownership control, managerial ownership, independent board members and different committees can be useful in controlling the agency conflict and its cost. This literature survey will enlighten the practitioners and researchers in understanding, analysing the agency problem and will be helpful in mitigating the agency problem.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"74 - 95"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217701467","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41561581","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-01DOI: 10.1177/0974686217701465
R. Vishwakarma
Abstract The board of directors is the most imperative facet of corporate governance for any corporation as it is responsible for approving financial decisions, policy formulation as well as strategic decisions. Consequently, their composition is a solemn issue for the company at all times. Recent years have evidenced a steep amplify in the board diversity by enhancing the representation of women in corporate leadership. Diverse boards with individuals having different background perhaps tends to be more innovative and make better decisions. It could enhance the boards’ functioning, sharpen strength and bring a more diverse perspective. Meanwhile, the participation of women in decision-making is one of the most divergent factors which has been given a push in the form of law with enactment of The Company Act, 2013. Thus, this study mainly illustrates the relevance of women in microfinance and empirically examines the association between participation of women on board and in senior management with the performance of microfinance industry, using a sample of 50 Non-banking Financial Companies–Microfinance Institutions (NBFC–MFIs). It is evident that there is a positive and significant impact of women as board members with the financial performance and of senior management with social performance in context to Indian MFIs. Thus, it is suggested that MFIs should think about the femininity on board and in senior management to improve financial viability and social performance to achieve sustainable growth.
{"title":"Women on Board and its Impact on Performance: Evidence from Microfinance Sector","authors":"R. Vishwakarma","doi":"10.1177/0974686217701465","DOIUrl":"https://doi.org/10.1177/0974686217701465","url":null,"abstract":"Abstract The board of directors is the most imperative facet of corporate governance for any corporation as it is responsible for approving financial decisions, policy formulation as well as strategic decisions. Consequently, their composition is a solemn issue for the company at all times. Recent years have evidenced a steep amplify in the board diversity by enhancing the representation of women in corporate leadership. Diverse boards with individuals having different background perhaps tends to be more innovative and make better decisions. It could enhance the boards’ functioning, sharpen strength and bring a more diverse perspective. Meanwhile, the participation of women in decision-making is one of the most divergent factors which has been given a push in the form of law with enactment of The Company Act, 2013. Thus, this study mainly illustrates the relevance of women in microfinance and empirically examines the association between participation of women on board and in senior management with the performance of microfinance industry, using a sample of 50 Non-banking Financial Companies–Microfinance Institutions (NBFC–MFIs). It is evident that there is a positive and significant impact of women as board members with the financial performance and of senior management with social performance in context to Indian MFIs. Thus, it is suggested that MFIs should think about the femininity on board and in senior management to improve financial viability and social performance to achieve sustainable growth.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"58 - 73"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217701465","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48625462","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2017-06-01DOI: 10.1177/0974686217699305
M. Mazumder
Abstract The purpose of this article is to provide further evidence on the functional form of relationship between management ownership and earnings management in the Japanese context. Applying regression model with third-order polynomial like Teshima and Shuto (2008), this study finds evidence of non-monotonic (cubic) relationship between management ownership and earnings management which supports alignment–entrenchment–alignment hypothesis. However, this study attempts to confirm the robustness of such findings with two additional approaches, namely piecewise linear regression and third-order polynomial regression with mean-centring adjustment. Unlike initial results, further evidence indicates that though the relationship between management ownership and earnings management is non-linear but the nature is quadratic (‘U’-shaped) which supports alignment–entrenchment hypothesis. Such conflicting findings will surely assist the future researchers to be cautious in designing non-linear models while investigating the relationship between ownership structure and earnings management.
{"title":"Re-examination of the Non-linear Relationship Between Management Ownership and Earnings Management: Evidence from Japan","authors":"M. Mazumder","doi":"10.1177/0974686217699305","DOIUrl":"https://doi.org/10.1177/0974686217699305","url":null,"abstract":"Abstract The purpose of this article is to provide further evidence on the functional form of relationship between management ownership and earnings management in the Japanese context. Applying regression model with third-order polynomial like Teshima and Shuto (2008), this study finds evidence of non-monotonic (cubic) relationship between management ownership and earnings management which supports alignment–entrenchment–alignment hypothesis. However, this study attempts to confirm the robustness of such findings with two additional approaches, namely piecewise linear regression and third-order polynomial regression with mean-centring adjustment. Unlike initial results, further evidence indicates that though the relationship between management ownership and earnings management is non-linear but the nature is quadratic (‘U’-shaped) which supports alignment–entrenchment hypothesis. Such conflicting findings will surely assist the future researchers to be cautious in designing non-linear models while investigating the relationship between ownership structure and earnings management.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"10 1","pages":"1 - 23"},"PeriodicalIF":0.0,"publicationDate":"2017-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686217699305","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42446369","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-12-01DOI: 10.1177/0974686216666447
A. Saxena, R. Jagota
Abstract In an earlier article, we addressed the question: Should the MSMEs, that is, the micro, small and medium enterprises, be governed the corporate way? Drawing on (a) the contribution of the MSMEs to the economic and social development in their respective settings, (b) systemic nature of their ailments, (c) institutional and organisational contingency theory of corporate governance and (d) the theory of articulation (upward delegation) of decision-making, we suggested a model of articulation of the MSME governance (Saxena & Jagota, 2015). In this article, we delve deeper into the issue of the MSME governance with reference to the emerging paradigm of dynamic governance that is known in Europe and other parts of the world as sociocracy. The word sociocracy is derived from the Latin and Greek words socius (companion) and kratein (to govern). It implies the rule by the ‘socios’, people who have a social relationship with each other—as opposed to the democracy rule by the ‘demos’, the general mass of people. As a system of governance, it relies on consent-based decision-making through active self-disclosure and feedback. It is stated to streamline decision-making, kindle creativity, innovation and entrepreneurial spirit and heighten productivity via individual engagement, commitment and empowerment. We posit that such a system of governance is particularly suitable for ethnic entrepreneurship, natural business clusters and the social and solidarity economy that many a country in Asia and Africa typify. In this article, we penetrate deeper into the functioning of representative clusters and communities and delineate principles and practices that could provide the edifice of the sociocratic architecture and dynamics of the MSME governance.
{"title":"Could Sociocracy be the Way to MSME Governance?","authors":"A. Saxena, R. Jagota","doi":"10.1177/0974686216666447","DOIUrl":"https://doi.org/10.1177/0974686216666447","url":null,"abstract":"Abstract In an earlier article, we addressed the question: Should the MSMEs, that is, the micro, small and medium enterprises, be governed the corporate way? Drawing on (a) the contribution of the MSMEs to the economic and social development in their respective settings, (b) systemic nature of their ailments, (c) institutional and organisational contingency theory of corporate governance and (d) the theory of articulation (upward delegation) of decision-making, we suggested a model of articulation of the MSME governance (Saxena & Jagota, 2015). In this article, we delve deeper into the issue of the MSME governance with reference to the emerging paradigm of dynamic governance that is known in Europe and other parts of the world as sociocracy. The word sociocracy is derived from the Latin and Greek words socius (companion) and kratein (to govern). It implies the rule by the ‘socios’, people who have a social relationship with each other—as opposed to the democracy rule by the ‘demos’, the general mass of people. As a system of governance, it relies on consent-based decision-making through active self-disclosure and feedback. It is stated to streamline decision-making, kindle creativity, innovation and entrepreneurial spirit and heighten productivity via individual engagement, commitment and empowerment. We posit that such a system of governance is particularly suitable for ethnic entrepreneurship, natural business clusters and the social and solidarity economy that many a country in Asia and Africa typify. In this article, we penetrate deeper into the functioning of representative clusters and communities and delineate principles and practices that could provide the edifice of the sociocratic architecture and dynamics of the MSME governance.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"9 1","pages":"173 - 185"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686216666447","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65368376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2016-12-01DOI: 10.1177/0974686216668458
S. Saha, M. Roy
Abstract Quality control of audit procedure has become extremely important in today’s corporate environment in the backdrop of accounting irregularities and audit failures leading to corporate demise. Accounting firms control the quality of audit procedure with the help of the quality control standard (QCS) and specific auditing standard. These standards provide reasonable assurance of compliance with applicable regulation and issuance of the appropriate report by the engagement team. After discussing the international scenario of quality control framework, in this study a comparative analysis of quality control policies and procedures at firm and engagement in three select countries has been presented. The countries selected are the United States of America (USA), the United Kingdom (UK) and India. The study finds that the QCS and the auditing standard in all three countries are designed in line with International Standards on Auditing (ISAs) and International Standards on Quality Control (ISQC)-1. Naturally, quality control policies and procedures in three countries are comparable barring few minor differences. Based on these differences, it can be concluded that the quality control framework in the UK and India is more stringent as compared to the USA.
{"title":"Quality Control Framework for Statutory Audit of Financial Statements: A Comparative Study of USA, UK and India","authors":"S. Saha, M. Roy","doi":"10.1177/0974686216668458","DOIUrl":"https://doi.org/10.1177/0974686216668458","url":null,"abstract":"Abstract Quality control of audit procedure has become extremely important in today’s corporate environment in the backdrop of accounting irregularities and audit failures leading to corporate demise. Accounting firms control the quality of audit procedure with the help of the quality control standard (QCS) and specific auditing standard. These standards provide reasonable assurance of compliance with applicable regulation and issuance of the appropriate report by the engagement team. After discussing the international scenario of quality control framework, in this study a comparative analysis of quality control policies and procedures at firm and engagement in three select countries has been presented. The countries selected are the United States of America (USA), the United Kingdom (UK) and India. The study finds that the QCS and the auditing standard in all three countries are designed in line with International Standards on Auditing (ISAs) and International Standards on Quality Control (ISQC)-1. Naturally, quality control policies and procedures in three countries are comparable barring few minor differences. Based on these differences, it can be concluded that the quality control framework in the UK and India is more stringent as compared to the USA.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"9 1","pages":"186 - 211"},"PeriodicalIF":0.0,"publicationDate":"2016-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686216668458","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"65368430","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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