A Pre Companies Act and Post Companies Act comparison of Pharmaceutical Companies: A Corporate Governance perspective

Over the last 30 years Corporate Governance has been a favourite subject of study among researchers. The researches are concentrated around five main themes, firm performance, corporate social responsibility, governance models, corporate disclosures and regulatory mechanism. Most of the studies are based in developing countries and are general in nature, Very few studies are related to a particular industry. The Companies Act 2013 could finally see the light of the day with its implementation. The focus of this Act was on Corporate Governance. Subsequently SEBI also brought about significant changes in its listing agreement in the form of SEBI (LODR). The present study is among the first, primarily on account of two reasons, one it makes a comparative analysis of the corporate governance levels prior to the Companies Act 2013 and after the implementation of the Act and two it is conducted on one single industry – the pharmaceutical industry.