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Good corporate governance practices help firms achieve better operational, financial results

The Confederation of Indian Industry (CII), in its jointly survey report conducted along with Grant Thornton, has stated over 95 percent of businesses believe that good corporate governance practices help organizations achieve better operational and financial results. The survey covered 107 companies across industries between October 2019 and November 2019

As per the report, 93 percent corporates identified culture as an important catalyst for implementing strong corporate governance, while as many as 75 percent of the respondents believe that mandatory corporate governance practices should be extended to unlisted companies.

Meanwhile, the other parameters taken in the survey include the absence of formal training programs on corporate governance for the board of directors and key managerial personnel, cost of implementation as major challenges in implementing corporate governance practices, the role of technology in improving the corporate governance practices, among others.

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