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The IUP Journal of Corporate Governance
ISSN: 0972-6853
A ‘peer reviewed’ journal indexed on Cabell’s Directory,
and also distributed by EBSCO and Proquest Database

July'18

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The IUP Journal of Corporate Governance is a quarterly journal focusing on governance and ethics framework, role of boards, role of CEOs, CFOs and other senior management, role of other stakeholders, disclosure and transparency, regulation and best governance practices.

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Editorial Board
Information to Authors
  • Governance & Ethics Framework
  • Role of Boards
  • Role of CEOs, CFOs and other Senior Management
  • Role of other Stakeholders
  • Disclosure & Transparency
  • Regulation
  • Best Practices
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Independent Directors in India and USA: A Comparative Study of Provisions
The Extent of Disclosure in the Annual Reports of Banking Sector of Pakistan: An Empirical Investigation
The Validity of Traditional State University Governance Mechanisms in Sri Lanka
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Contents
(July 2018)

Independent Directors in India and USA: A Comparative Study of Provisions

--Kamal Kishore

An independent director is a non-executive director who is devoid of any material conflict of interest with the company or its promoters. In the aftermath of various serious corporate frauds and incidents of mismanagement, investor confidence was badly hurt. To restore a degree of confidence in the investors in companies, many committees were constituted in different countries, and most of them recommended, as one of the measures to remedy the situation, the concept of independent director on corporate boards. India too adopted the concept initially through codes/recommendations made by committees and lately by incorporating necessary provisions in the New Companies Act, introduced in 2013, in an elaborate way. The USA provisions on independent directors emanate from listing manual of stock exchange and are generally similar to Indian regulations. The present paper examines different aspects of independent directors in the two important jurisdictions of India and USA in a comparative way. It is observed that both the countries have laid focus on absence of conflict of interest to determine the independent status of a director. Indian law prescribes one third of independent directors, while in USA, a majority of directors have to be independent. There are various similarities in the provisions relating to independent directors in the two countries.

Article Price : Rs.50

The Extent of Disclosure in the Annual Reports of Banking Sector of Pakistan: An Empirical Investigation

--Saqib-Ur-Rehman, Mehwish Naseer and Summaira Haroon

This study empirically investigates the extent of both mandatory and voluntary disclosure in the annual reports of banking sector of Pakistan. It also examines the association between total disclosure level (mandatory and voluntary) and firm-specific attributes of the sample banks. The annual reports of 24 commercial banks listed on Pakistan Stock Exchange (PSX) are content analyzed for the year 2015-16. A disclosure index of 219 items was selected, out of which 117 were mandatory and 102 were voluntary items. The results reveal that average total disclosure level is 70%. Average score for mandatory and voluntary items is 100% and 54% respectively. The regression analysis indicates that assets-in-place, age and board composition are significant in explaining the disclosure level. The results reveal that banks in Pakistan are very compliant towards mandatory disclosure, which indicates that regulatory bodies are functioning well and their implementation is strong and effective. Overall, this study is a valuable contribution to the field of disclosure of information in annual reports of banking sector of Pakistan, as in Pakistan very limited work has been done on disclosure of information in annual reports.

Article Price : Rs.50

The Validity of Traditional State University Governance Mechanisms in Sri Lanka

--Athula Ekanayake

Article Price : Rs.50
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Automated Teller Machines (ATMs): The Changing Face of Banking in India

Bank Management
Information and communication technology has changed the way in which banks provide services to its customers. These days the customers are able to perform their routine banking transactions without even entering the bank premises. ATM is one such development in recent years, which provides remote banking services all over the world, including India. This paper analyzes the development of this self-service banking in India based on the secondary data.

The Information and Communication Technology (ICT) is playing a very important role in the progress and advancement in almost all walks of life. The deregulated environment has provided an opportunity to restructure the means and methods of delivery of services in many areas, including the banking sector. The ICT has been a focused issue in the past two decades in Indian banking. In fact, ICTs are enabling the banks to change the way in which they are functioning. Improved customer service has become very important for the very survival and growth of banking sector in the reforms era. The technological advancements, deregulations, and intense competition due to the entry of private sector and foreign banks have altered the face of banking from one of mere intermediation to one of provider of quick, efficient and customer-friendly services. With the introduction and adoption of ICT in the banking sector, the customers are fast moving away from the traditional branch banking system to the convenient and comfort of virtual banking. The most important virtual banking services are phone banking, mobile banking, Internet banking and ATM banking. These electronic channels have enhanced the delivery of banking services accurately and efficiently to the customers. The ATMs are an important part of a bank’s alternative channel to reach the customers, to showcase products and services and to create brand awareness. This is reflected in the increase in the number of ATMs all over the world. ATM is one of the most widely used remote banking services all over the world, including India. This paper analyzes the growth of ATMs of different bank groups in India.
International Scenario

If ATMs are largely available over geographically dispersed areas, the benefit from using an ATM will increase as customers will be able to access their bank accounts from any geographic location. This would imply that the value of an ATM network increases with the number of available ATM locations, and the value of a bank network to a customer will be determined in part by the final network size of the banking system. The statistical information on the growth of branches and ATM network in select countries.

Indian Scenario

The financial services industry in India has witnessed a phenomenal growth, diversification and specialization since the initiation of financial sector reforms in 1991. Greater customer orientation is the only way to retain customer loyalty and withstand competition in the liberalized world. In a market-driven strategy of development, customer preference is of paramount importance in any economy. Gone are the days when customers used to come to the doorsteps of banks. Now the banks are required to chase the customers; only those banks which are customercentric and extremely focused on the needs of their clients can succeed in their business today.

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