Corporate Governance Practices And Its Impact On Financial Performance Of FMCG Sector In India A Comparative Study Of Selected Units

Abstract

Nowadays, corporate governance has become a part and parcel of the corporate world, not only in foreign countries like USA, Japan and United Kingdom etc, but also in India. We can t think of sound corporate practices and a healthy corporate environment in the absence of proper corporate governance norms. In the last few decades, many corporate scandals have taken place in different countries some of them are Waste Management Scandal (1998), Enron scandal (2001), WorldCom Scandal (2002), Tyco Scandal (2002), Health South Scandal (2003), Freddie Mac Scandal (2003), American Insurance Group Scandal (2005), Lehman Brothers Scandal, (2008), Bernie Madoff Scandal (2008), Satyam Scandal (2009), these all are in the list of top 10 worst corporate scandals of the world. These all happened in the different corners of the world, if we talk about Indian corporate world it has also been not unaffected and it was also hampered by the corporate scandals, some of notable scandals are- Harshad Mehta and Ketan Parekh Stock Market Scandal (1992), Telgi Scam (2002), 2G Spectrum (2009), Satyam Scandal (2009) and Indian Coal Allocation Scam (2012). newline