Corporate Governance Disclosure Practices in Brics Countries

Abstract

Corporate Governance deals with the existence of a set of rules by which an organization is governed for the objective of ensuring and protecting rights and the benefits of all stakeholders. It requires the involvement of all stakeholders of any organizations. It also controls the mechanism for the interest of organization and accountability to stakeholders. It further deals with relationships among different stakeholders since the success of any corporate depends on the same. The purpose of the study was to examine and analyse the Corporate Governance disclosure practices in BRICS countries viz. Brazil, Russia, India, China and South Africa. After studying the various national and international research it is found that many researches has been conducted on Corporate Governance practices in India, IT sector and public Companies or private companies. No study has been taken place on BRICS Countries. Therefore, this study has been conducted. newlineTo examine disclosure practices of Corporate Governance, hypothesis has been framed and tested those hypothesis in the light of ANOVA Test. There were certain parameters identified on which Corporate Governance practices of selected banks were evaluated. Result of ANOVA Test concludes that p value is more than 0.05, so there is no significant difference among Corporate Governance disclosure practices of banks. Disclosure practices of banks highlights uniformity in Corporate Governance practices because of the existence of similar codes of Corporate Governance by the government of the chosen countries. newlineAs far as users are concerned, their orientation towards Corporate Governance has increased significantly in last decade. As a conclusion of the research work, it can be signified that awareness level of Corporate Governance among users in South Africa is very limited in comparison to other selected BRICS Countries. Banks/Regulatory authority should organize awareness campaign, workshops, conferences and seminars to make users aware about benefits of Corporate Governance. newline newline