ISSN (Print) - 0012-9976 | ISSN (Online) - 2349-8846

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What Ails the Indian Capital Market

The evidence presented in This paper suggests that an important factor underlying the withdrawal of retail investors from the capital market is the erosion of investors' confidence in Corporate India. The government has shown little seriousness in creating the necessary confidence by stricter regulation to ensure that Corporate India behaves more responsibly towards investors. On the contrary, some of the government's proposals, incorporated in the Companies Bill pending before parliament, are bound to reduce corporate managements' accountability to shareholders. Corporate managements' accountability to shareholders is the central problem.

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