Corporate Governance -Self regulation vs legislation a case study

The importance of codification of good Corporate Governance practices having mandatory force cannot be mitigated. But in order to ensure implementation and compliance in true spirit, Corporate Governance practices need to be legislated by one regulator or body only to avert duplicity, confusion and uncertainty. The necessity of mandatory Corporate Governance practices, however, leads to another significant question is mere compliance of legislated Corporate Governance practices an ideal situation. The compliance with legislated Corporate Governance practices must be considered as Corporate Governance practices must be considered as Corporate Governance practices at minimum level. It, therefore, cannot be an ideal situation. What is desired, now, is change in perception of persons charged with governance. It is for the corporate world to set up precedents of implementing unique and distinctive Corporate Governance practices as a leader to be followed by everyone. The regulatory pressure is indispensable but voluntary compliance to more than minimum is desirable.

Autorentext

Sh Debabrata Chatterjee has following academic qualifications-B. com(Hons), ICWAI(Intermediate), MBA (finance), Sae (NHPC)-Presently a research scholar in management, , BIT, Mesra, Ranchi, Jharkhand, India.-Has published more than 10 research articles in national and international journals.- Member of Aima,IIA-USA & ASCI-India.