Companies with recent IPOs have worse corporate governance scores

Poor track record has been a drag on returns for companies

Companies that have recently come out with their initial public offerings (IPOs) have worse corporate governance scores than those in key benchmark indices, shows an annual examination of governance standards across companies. 

Recently listed companies scored 54, compared to 58 for the BSE100 firms and 61 for entities in the Sensex pack, showed the Indian Corporate Governance Scorecard report by governance firm Institutional Investor Advisory Services India (IiAS). 

The framework was developed in association with the BSE and the International Finance Corporation (IFC). The initiative had financial support from the government of Japan.  The study re-evaluated 

50 companies that went for listing between