We provide a brief overview of corporate governance in India, including a description of Indian contextual differences (as compared to the U.S. and elsewhere) and a discussion of the major events contributing to the evolution of India's corporate governance/accounting/auditing practices since economic deregulation in 1991.

India is one of the few countries where companies are required to give both consolidated financial statements (CFS) as well as parent-only financial statements. While parent-only statements are in existence for a long time, CFS was introduced recently. This study examines the value relevance of consolidated financial statements in India.

When investing in emerging markets, companies face the ever present risk of partial or full expropriation by an unfriendly host government.

This article values the debt of an input cooperative that procures a single commodity from farmers and then processes and markets the output, and an otherwise identical firm structured as an investor-owned firm (IOF) using the Black-Scholes option pricing model.

The electricity reforms were initiated in India with the objective of promoting competition in the electricity market. In order to promote competition, the Electricity Act 2003 was enacted and various policy initiatives were taken by the Government of India.

A growing volume of literature on Initial Public Offerings (IPOs) by Indian firms has sought to explain the efficiency of pricing and the post issue performance of companies that make IPOs, in terms of institutional features of the securities market or certain features of the issuers.

Since the empowerment of the Securities and Exchange Board of India (SEBI) through an Act of Parliament in 1992, SEBI has come up with a number of initiatives aimed at regulating and developing the Indian securities market and improving its safety and efficiency. These initiatives have made an impact on nearly every aspect of the market.

The Corporate Social Responsibility (CSR) framework is quite rich with its concepts like sustainability, mainstreaming, stakeholders and their inclusiveness, citizenship, etc. The debate in CSR is increasingly about making it a part of core business process rather than treating it as a compliance function.

An earlier version of this paper was accepted for presentation at the 12th Finsia-Melbourne Centre for Financial Studies Banking and Finance Conference. The authors gratefully acknowledge the useful comments received from anonymous referees of the above conference and this journal.

Insurance as a financial instrument has been used for a long time. The dramatic increase in competition within the insurance sector (in terms of providers coupled with awareness for the need for insurance) has concomitantly resulted in more policy options being available in the market.