Emerging Trends in Corporate Governance

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CG @ FTMF - Debt Funds

  India’s debt fund market has been roiled in the last couple of years when two big non-banking finance companies, Infrastructure Leasing & Financial Services Ltd and Dewan Housing Finance Corp, collapsed around September 2018 and June 2019, respectively. Several debt funds that were exposed to these NBFCs had to write their investments off. Then, in March 2020, as many as 34 debt funds saw their net asset values go down as they had exposure to Yes Bank’s debt. Of this, funds managed by Franklin Templeton Mutual Fund reportedly lost Rs 590 crore, the second-highest losses booked, after Nippon Mutual Fund’s loss of Rs 2,500 crore.  While the corporate bond market has been suffering, prompting the Reserve Bank of India to inject more liquidity, India may not be that badly placed either. In fact, on Friday, (24 04/2020) Bloomberg reported that following the RBI’s moves, India is actually leading returns this month in Asia’s dollar bond market, with the country’s dollar bo...
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Best Practices: Strategies for CSR

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  Why do companies take up CSR activities? Sprinkle & Maines (2010) claim that organizations may engage in CSR activities for 4 reasons: organizations may have altruistic intentions; they may use CSR activities as “window dressing” to appease various stakeholder groups; for potential benefits of recruitment, motivation and retainment of employees; for customer-related motivations as CSR may entice consumers to buy organization’s products and services. Weber (2008) indicates five key areas where CSR creates positive relations: Positive effect on organization‘s image and reputation; positive effect on employee motivation, retention and recruitment; cost savings; revenue increases from higher sales and market share; and CSR-related risk reduction or management. Polonsky & Jevons (2009) found that possible reasons to organizations of being socially responsible include: improved financial performance; contribution to market value; a more general positive impact on societal sta...
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Corporate Governance @ Production(Effluents): Coca-Cola , Plachimada

  Plachimada is a little hamlet in Palakkad District, which is known as the ‘rice bowl of Kerala.’ The majority of the population consists of  adivasis  (indigenous people). The primary occupation is agriculture. Data from the latest round of the socio-economic census reveals that 60% of the population is engaged in agriculture. This corresponds to 2,303 of the 3,802 people who are of working-age in Perumatty, The Hindustan Coca-Cola Beverages Pvt. Ltd ( HCCBPL) , the Indian subsidiary of the Atlanta-based manufacturer of aerated drinks in 1998, HCCBPL acquired 34.4 acres of land (mostly paddy fields) in order to set up a bottling plant at Plachimada. On January 25, 2000, the Perumatty Panchayat (a local governing body whose constituency includes Plachimada) granted permission to begin building the plant. In March 2000, operations began. The Kerala State Pollution Control Board (KSPCB) granted the company a permit to produce 561,000 litres of beverage per day, with an ...
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