Title: Lessons in corporate governance from Kautilya's Arthashastra in ancient India

Authors: Balakrishnan Muniapan, Junaid M. Shaikh

Addresses: School of Business, Curtin University of Technology, Sarawak, Malaysia. ' School of Business, Curtin University of Technology, Sarawak, Malaysia

Abstract: This paper explores the lessons in corporate governance from Kautilya|s Arthashastra, highlighting the contribution made by Kautilya in ancient India (4th Century BC). The lessons from Kautilya|s Arthashastra are relevant even today and can be integrated into the modern context of corporate management towards achieving the ultimate aim of corporate governance, which is to provide value to shareholders and stakeholders. Chinmayananda (2003) states that from time to time there is a need to look and re-look at some of the ancient works and provide an intelligent interpretation and re-interpretation to apply effectively in the context of modern corporate management. The prospects of analysis of Kautilya|s Arthashastra in other areas of corporate management such as strategic management, financial management and human resource management can be considered for future research.

Keywords: corporate governance; Kautilya; Arthashastra; ancient India.

DOI: 10.1504/WREMSD.2007.012130

World Review of Entrepreneurship, Management and Sustainable Development, 2007 Vol.3 No.1, pp.50 - 61

Published online: 23 Jan 2007 *

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