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IIMB Management Review

Document Type

Article

Abstract

The challenge of promoting enterprise and accountability is common to all markets. What degree of freedom is right for corporate boards and how to make them accountable is a major concern in the realm of corporate governance. Even where market forces are expected to take care of the utilisation of available resources, there has to be a system which ensures that owners of these resources are made accountable for their use in the larger interests of the economy. This paper examines the rationale for institutional investors’1 activism in general and for the Indian capital market in particular, discusses empirical evidences and chalks out the scope and modes of activism. Factors influencing institutional investors’ activism, its existing framework, and its experience in the Indian market are also examined. Finally, an alternate approach for evolving a suitable framework for institutional investors’ activism in Indian capital markets is suggested.

Publication Date

3-1-2002

First Page

55

Last Page

64

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