Title: Modern corporate sector and corporate governance experience in Sri Lanka

Authors: Halpege Walter Gunetilleke

Addresses: Department of Business Administration, Faculty of Management Studies and Commerce, University of Sri Jayewardenepura, Nugegoda, Sri Lanka

Abstract: This paper discusses the corporate governance experience in Sri Lanka with a brief analysis of the historical growth of the corporate sector and salient features of the recent developments. It finds that the regulatory framework has increased simultaneously with the growth of the corporate sector. There is every potential now to witness a rapid growth of the economy with the end of the three decades of civil war, which has damaged the economy, and the social and political stability of the country. This paper argues that the corporate sector has matured enough to have its own self-regulations but the need to pay respect for the regulators and the need to free them from undue interferences by the politicians and also the need to make available adequate resources for them to be effective and efficient.

Keywords: corporate governance; emerging economies; market economies; regulatory environment; non-executive directors; Sri Lanka.

DOI: 10.1504/IJBE.2011.039383

International Journal of Business Environment, 2011 Vol.4 No.1, pp.22 - 44

Published online: 01 Apr 2011 *

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