How has evolution of corporate governance practices of banks in India affected quality of their financial reporting
by Ajit Gupta; Prakash Singh
International Journal of Indian Culture and Business Management (IJICBM), Vol. 26, No. 1, 2022

Abstract: Corporate governance (CG) aims to strike a balance between the interests of a firm's various stakeholders. Financial reporting is another key aspect of firm management. Few studies cover Indian banking firms' CG practices and QFR comprehensively. We aim to quantify the relationship between Indian banks' quality of CG and QFR. Leveraging Sarkar et al. (2012) and Gulati et al. (2020), we created a CG index (CGI) for banks in India. Using Beest et al. (2009), we created a QFR index. We compute these indices for 42 Indian banks and financial firms for four different years between 2010 and 2019. We find that QFR has improved in Indian banks as CG practices have evolved. We recommend making inclusion of CGI and QFR Index mandatory in the annual reports of banks so that the investor community and other stakeholders can use this information in a timely fashion.

Online publication date: Fri, 13-May-2022

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