Governance: On the path of progress

While challenges persist regarding executive compensation and board effectiveness, governance is now firmly on the board's agenda

For eight consecutive years now, we at Institutional Investor Advisory Services India, the proxy firm where I work, have been scoring the BSE100 companies on their governance. I wrote about this in detail in 2017 and alluded to it in the context of the Hindenburg-Adani report last year.  We published the “scores” based on data for FY23 earlier this month. Using this data, it is time to look back at corporate India’s governance practices over the past five years.  

First, is it possible to measure something as fuzzy as governance? The scorecard approach attempts to do just this, by first