Governance is agnostic to geography. Yet when it comes to voting on shareholder resolutions, it’s the location of the investor that determines the person’s vote. This is most true in the case of appointing independent directors because global investors have far higher expectations from them than domestic investors do. This has to do with market practices in their geographies. In the US and other markets, businesses are professionally managed and institutionally owned. Consequently, the dialogue between the executive management and investors is through the board. Therefore, there is a higher expectation from the board. In India, with the preponderance of
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