Compliance with the formal corporate governance code will be incorporated in FY2001 annual reports. investors should not be dismayed by the lack of a corporate governance structure or conversely, lower their guard at elaborate corporate governance norms. Our report reveals that substance (eg, the importance of truly independent directors) is more important than form (compliance with the corporate governance code).
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as the HDFC Bank RBI divergence story shows, the huge number of analysts and journalists deliberately ignored and continue to be oblivious to a story that is staring at them in their face and it is in this void that independent research can flourish and prosper.
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