Delhi University

The issue of corporate governance has become obverse and centre of the agenda for both business leaders and regulators all over the world, following the global financial crisis. The crisis has provided many illustrations of the collapse of corporate governance and, consequently, international regulators are hard at work to influence appropriate regulatory controls. Thus, the role of effective corporate governance is of massive importance for the society as whole. First, it encourages the efficient use of scarce resources within the organization and the economy. Second, it makes the resources flow to the most efficient sectors or entities. Third, it helps the mangers to remain focused on improving performance. Fourth, it provides a tool of choosing the best executive to control the scarce resources. Finally, it forces the organization to comply with the rules, regulations and prospects of society. There is plethora of studies and researches on corporate governance in the Indian context. Through this review article in Section 1, we go through the previous literature on corporate governance in India. In section 2, we highlight the corporate governance variables used in various studies. In section 3, we summarise the main findings of the various research studies. In section 4, we go through the areas for further research and discussions in the field of corporate governance in India