IFC Global Corporate Governance Forum

Feb 22, 2008

IFC Global Corporate Governance Forum Partners with SEBI and NISM to Promote Awareness of Governance Reform in India

(India Press Release by Integral PR Services)
In consultation with the Securities Exchange Board of India and the National Institute for Securities Markets, the IFC Global Corporate Governance Forum has designed a program to address key elements of corporate governance reform, capacity building, and enhance awareness in India.

As part of this collaboration, a business investor dialogue is being organized to facilitate discussions between the private sector, domestic and international investors, and the Securities Exchange Board and to shed light on that state of governance in Indian companies. Issues to be explored include the effectiveness of various governance structures, the role of the board, disclosure, and enforcement.

The event will give participants an opportunity to make recommendations for improving corporate governance among enterprises. Discussions around research on the state of corporate governance in India’s listed companies will be conducted by Professor Vic Khanna of the University of Michigan, Professor Bernard Black of the University of Texas, and Professor N. Balasubramanian of the Indian Institute of Management in Bangalore.

The ongoing research includes surveys of 500 publicly traded companies, representing various sectors in the country's six largest cities. This research is supplemented by publicly available information. The data analysis seeks to identify the connections between various aspects of governance, company performance, and profitability.

The event aims to identify challenges facing companies, offer possible measures for improvement, and provide an opportunity for local and international business leaders and investors to share views and experiences on the investment climate in India. It also aims to generate discussions and obtain policy recommendations from an assembly of local business representatives and investors.

Participants expected include investors and senior business leaders from Barclays, Bombay Stock Exchange, Crisil, National Stock Exchange, Fortis, Kotak, KPMG, Tata Motors, and Wipro.