Corporate Governance In A Globalised Economy: A Comparative Analysis
- IJLLR Journal
- 1 hour ago
- 2 min read
Janhavi Vinod Shrungare & Aaryan Naresh Parekh
ABSTRACT
In an increasingly globalised economy, corporate governance has become a crucial tool for guaranteeing accountability, transparency, moral behaviour, and long-term business success. The nature of corporate governance has changed dramatically as a result of the expansion of multinational firms, cross-border investments, international capital markets, and digital business activities. This has led to the requirement for flexible and efficient regulatory frameworks. The legal systems, regulatory bodies, board procedures, shareholder protection, and corporate accountability strategies of the US, UK, China, Singapore, and India are all compared in this study. Additionally, the report examines global norms, such as the OECD/G20 Principles of Corporate Governance, and assesses the increasing impact of digitalisation, cybersecurity, artificial intelligence, ESG, and climate-related threats on corporate governance. In order to find flaws in board supervision, audits, internal controls, disclosure, and regulatory enforcement, the study also looks at significant corporate governance failures, such as the Enron, WorldCom, Satyam, and IL&FS scandals. The comparative results show that there is growing convergence on the concepts of accountability, transparency, independent scrutiny, and investor protection, even though different jurisdictions choose different governance models based on their institutional, legal, and economic circumstances. In particular, promoter domination, minority shareholder protection, regulatory enforcement, and rising technical concerns are identified as ongoing challenges in India's corporate governance structure. It makes the case that India should promote moral leadership, board independence, stakeholder accountability, and closer adherence to international governance norms while bolstering implementation and enforcement. The study comes to the conclusion that a dynamic balance between shareholder interests, stakeholder welfare, corporate responsibility, and long-term sustainable value creation is necessary for effective corporate governance.
Keywords: globalised economy, regulatory frameworks, corporate governance, ongoing challenges, international governance.
