ethical consideration in corporate governance

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Ishika dutta

ethical consideration in corporate governance

Authors: Ishika dutta

Unique Paper ID: 182553
Volume: 12
Issue: 2
PageNo: 2461-2471

Keywords: Ethics Corporate Governance Law

Abstract:
This study examines the importance of ethical governance in corporate practices by investigating the relationship between legislation, regulation, and principled business behavior. In response to ongoing corporate collapses, the paper rigorously analyzes how ethical breaches erode investor trust and public faith. Actual instances like the Harshad Mehta securities scandal, the Kingfisher Airlines financial downturn, and the Satyam controversy are examined to showcase systemic deficiencies in governance, oversight, and regulatory adherence. The research highlights significant obstacles to ethical governance, such as unclear decision-making, conflicts of interest, complacency at the board level, and the drive to prioritize short-term profits. It explores the significance of legal structures like the Companies Act, 2013, and SEBI (LODR) Regulations, highlighting aspects concerning board independence, whistleblower safeguards, audit committees, and disclosure standards. The article also involves wider business ethics concepts integrity, fairness, and responsibility and assesses their incorporation within corporate governance frameworks. Instead of viewing ethics as a reactive or compliance-driven requirement, the paper advocates for a proactive stance in which ethical governance is integrated into the core of corporate structures. This involves promoting ethical leadership, enhancing internal controls, and cultivating a culture of transparency and accountability, ultimately establishing ethics as a strategic resource vital for sustainable business growth.

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ISSN: 2349-6002
Volume: 12
Issue: 2
PageNo: 2461-2471

ethical consideration in corporate governance

Available:https://ijirt.org/Article?manuscript=182553

Impact Factor
8.01 (Year 2024)

UGC Approved
Journal no 47859

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