The spirit of corporate governance is to be inculcated, institutionalized and adhered to: and this is something each and every one of us has to do collectively, and not have enforced upon us by bodies such as Sebi -- this was the essence of the interaction on corporate governance held by the Delhi-based Indian Institute of Foreign Trade, School of International Business Management.
Speaking on the occasion Naina Lal Kidwai, managing director, HSBC Capital Markets India said that technology and pharmaceutical sectors will continue to propel growth in our country in the coming years.
Kidwai said that it is not only imperative to accept that corporate governance is embedded into the successful management style of a company, but that there is a huge paradigm shift that is presently happening in the subject of corporate governance itself. The creation of market value for the shareholders should be the ultimate goal of any company and its management.
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"This market value is based not on numbers, but on the perceptions of the shareholders regarding the company", she said. She also added that the present scenario entailed performance, with companies not only having to deliver results every quarter, but also to guide the market during the next quarter. Potential for growth, which encompasses both the environment in which the company is operating as well as the internal dynamics of the company.
She stressed that only the companies that go the whole way and adhere to the principles of corporate governance, will be successful and the markets will reward only the transparent companies.