Convergence of Corporate Governance in India; A Fallacy Or Reality

Research Article
Vincent Konadu Tawiah, Muhaheranwa Benjamin And Maniriho Emmy Arsonval
Anglo-American model, Clause 49, convergence, corporate governance,

It is undeniable fact that, the drive for good corporate governance (CG) practice has cause global reforms in corporate governance towards a single model. This study has taken both theoretical and empirical analysis to demonstrate the reality of convergence in India. With NIFTY companies as sample size, the study found out that, Clause 49 has many similarities
with Anglo-American model, while in practice the same can be said with constraints. Ownership structure and poor enforcement of regulations are the major constraints of Indian convergence to Anglo-American model. The study therefore shares similar thoughts with Asfraipur (2009) that, Anglo-American model is dominant in principle but restricted in practice.