Corporate governance has always been a vital part of the joint stock company era. In recent times, it has assumed greater significance in light of the

Transcription

1 FIRST C O R P O R AT E GOVERNANCE CONFERENCE Venue : Hilton Hotel, Chennai

2 Corporate governance has always been a vital part of the joint stock company era. In recent times, it has assumed greater significance in light of the numerous instances of mis-governance and scandals. Trichy believes that an interaction between academia and industry will help to better understand the challenges in corporate governance. This conference is an attempt to provide such a platform. We plan to organize this conference on an annual basis and provide a venue for academia and industry to come together on this topic. Conference Organising Committee Prof. Bipin Kumar Dixit Prof. V. Gopal Prof. Jijo Lukose P. J. Prof. Narahari Hansoge Prof. Nithyananda K.V. Prof. G. Sethu Student Volunteers Suja Sekhar C Tejas Patil Vipin Arora 1

3 Conference Schedule- Summary Day 1 : June 13th 2014 Details Time 10:00 to 11:00 Inauguration 11:00 to 11:15 Coffee break 11:15 to 13:15 Paper presentations(session 1: Earnings Management and Litigation Risk) 12:30 to 13:00* Press meet to announce launch of Center for Corporate Governance 13:15 to 14:15 Lunch 14:15 to 14:45 Keynote speech (Topic: Evolving Corporate Governance Practices in India) 14:45 to 16:15 Paper presentations (Session 2: Executive Compensation and Regulation) 16:15 to 16:30 Coffee break 16:30 to 18:00 Paper presentations (Session 3: Audit committees and Ownership Structure) 18:00 to 19:00 Panel discussion (Topic: Corporate Governance Regulation in India - Past, Present and Future) 19:30 to 21:30 Conference dinner *Will be held parallelly with the paper presentation session Day 2 : June 14th, 2014 Time Details 09:30 to 11:30 Paper presentations (Session 4: Board of Directors) 11:30 to 11:45 Coffee break 11:45 to 13:15 Paper presentations (Session 5: Market Microstructure) 13:15 to 14:00 Lunch 14:00 to 15:30 Paper presentations (Session 6:Other Topics) 15:30 to 15:45 Coffee break 15:45 to 16:15 Presentation of Best Paper Awards and Valedictory Speech 2

4 Conference schedule (Detailed) Registration - June 13, :00 onwards Inauguration - June 13, :00 to 11:00 Welcome Address : Prof. Prafulla Agnihotri (Director, Trichy) Inauguration of the Conference & Speech: Mr. M. Damodaran (Chairman, BoG Trichy) Inauguration of the Centre for Corporate Governance by Chief Guest: Mr. Bharat Doshi (Director, Mahindra & Mahindra Ltd.) Vote of Thanks : Prof. V. Gopal (Dean, Trichy) Coffee Break - June 13, :00 to 11:15 Session 1 - June 13, :15 to 13:15 Session Title: Earnings Management and Litigation Risk Session Chair: Bipin Dixit ( Trichy) Gross profit manipulation: impact of product market competition Author(s): Neerav Nagar (Indian Institute of Management Ahmedabad) Discussant: Ashiq Ali (Naveen Jindal School of Management, UT Dallas) CEO tenure and earnings management Author(s): Ashiq Ali (Naveen Jindal School of Management, UT Dallas) and Weining Zhang (Cheung Kong Graduate School of Business) Discussant: Srinivas Rangan (Indian Institute of Management Bangalore) Litigation risk, audit fees and audit methodologies Author(s): Paul J. Beck (College of Business,University of Illinois, UC), Zhiyan Cao (Milgard School of Business) and Ganapathi S Narayanamoorthy (College of Business,University of Illinois, UC) Discussant: Vijaya Marisetty (RMIT University) Press Meet - June 13, :30 to 13:00* Press meet for the launch of Centre for Corporate Governance ( Trichy) *Will be held parallelly with the paper presentation session Lunch - June 13, :15 to 14:15 Keynote Speech - June 13, :15 to 14:45 Topic: Evolving Corporate Governance Practices in India Speaker Introduction: Prof. V. Gopal (Dean, Trichy) Keynote Speech: Mr. Bharat Doshi (Director, Mahindra & Mahindra Limited) 3

5 Session 2 - June 13, :45 to 16:15 Session Title: Executive Compensation and Regulation Session Chair: Narahari Hansoge( Trichy) Executive compensation and firm performance: evidence from Indian firms Author(s): Mehul Raithatha (Institute for Financial Management and Research, Chennai) and Surenderrao Komera (Institute for Financial Management and Research, Chennai) Discussant: Bipin Dixit (Indian Institute of Management Trichy) The side effcts of transparency regulation: Evidence from stock pledging disclosure regulation in the Indian market Author(s): Yogesh Kumar Chauhan (IBS, Hyderabad), Vijaya B Marisetty (RMIT University) and Srinivasan Rangan (Indian Institute of Management Bangalore) Discussant: Arun Kumar (Indian Institute of Technology, Madras) Coffee Break - June 13, :15 to 16:30 Session 3 - June 13, :30 to 18:00 Session Title: Audit Committees and Ownership Structure Session Chair: Neerav Nagar (Indian Institute of Management, Ahmedabad) Independence of audit committees and firm valuations: an empirical study of firms listed in BSE 200 index Author(s) : M.D.Saibaba (Dayananda Sagar Academy of Technology and Management, Bengaluru), Padma Srinivasan (Christ University, Bengaluru) and Valeed Ahmad Ansari (Aligarh Muslim University) Discussant: Amiya K. Sahu (Goa Institute of Management, Goa) Impact of ownership structure and board composition on corporate performance in India: a study into nifty companies Author(s): Apu Manna (Vivekananda Mission Mahavidyalaya, Haldia, W.B), Tarak Nath Sahu (Vidyasagar University) and Arindam Gupta (Vidyasagar University) Discussant: Krishna Prasanna (Indian Institute of Technology, Madras) Panel Discussion - June 13, :00 to 19:00 Topic: Corporate Governance Regulation in India - Past, Present and Future Speaker Introduction: Prof. V. Gopal (Dean, Indian Institute of Management Trichy) Mr. Sampath Kumar (Former Editor, Business Line) Mr. Vivek Kulkarni (Managing Director, Brickwork Ratings) Mr. V. Nagappan (Former Director, Madras Stock Exchange) Conference Dinner - June 13, :30 to 21:30 Session 4 - June 14, :30 to 11:30 Session Title: Board of Directors Session Chair: Nithyananda K.V ( Trichy) Board busyness and crash risk: evidence from Indian stock market Author(s): Yogesh Kumar Chauhan (IBS, Hyderabad), Sudhakar Reddy (IBS, Hyderabad), Kavita Wadhwa (IBS, Hyderabad) Discussant: Jijo Lukose (Indian Institute of Management Trichy) 4

6 Corporate Governance, Board Diversity and Firm Value: The Indian Experience Author(s): Reeta Shah (IIT Bombay), Arunima Haldar (NMIMS) and S.V.D. Nageswara Rao (IIT Bombay) Discussant: Surenderrao Komera (Institute for Financial Management and Research) Do the board composition affect IPO grade: empirical analysis from the Indian equity market Author(s): Souvik Banerjee (Sri Sri Institute of Management Studies, Goa) Discussant:Ranjitha Ajay (Indian Institute of Technology, Madras) Coffee Break - June 14, :30 to 11:45 Session 5 - June 14, :45 to 13:15 Session Title: Market Microstructure Session Chair: Palanisamy Saravanan (Indian Institute of Management Shillong) Corporate governance and liquidity in India Author(s): A Geetha (Department of Management Studies, Mother Teresa Women s University) Discussant: Ganapathi Narayanamoorthy (University of Illinois, UC) Block ownership and crash risk: evidence from an emerging market Author(s): Yogesh Kumar Chauhan (IBS, Hyderabad), Sudhakar Reddy (IBS, Hyderabad), Kavita Wadhwa (IBS, Hyderabad) Discussant: Ekta Selarka (Madras School of Economics) Lunch - June 14, :15 to 14:00 Session 6 - June 14, :00 to 15:30 Session Title: Other Topics Session Chair: Jijo Lukose ( Trichy) Institutional shareholding and firm value: evidence from India Author(s): Amiya K. Sahu (Goa Institute of Management, Goa) Discussant: Neerav Nagar (Indian Institute of Management Ahmedabad) Impact of corporate diversification strategy on earnings management Author(s): Ranjitha Ajay (Indian Institute of Technology, Madras) and R Madhumathi (Indian Institute of Technology, Madras) Discussant: Yogesh Kumar Chauhan (IBS, Hyderabad) Role of Independent Directors - Enhancing or Otherwise of the Shareholders Wealth- An Empirical Investigation Author(s):Tara Shankar Shaw (Indian Institute of Technology Bombay) and Palanisamy Saravanan (Indian Institute of Management Shillong) Discussant: V Gopal (Indian Institute of Management Trichy) Coffee Break - June 14, :00 to 16:15 Best Paper Awards and Valedictory - June 14, :15 to 16:45 Presentation of best paper awards and valedictory speech: Prof. Prafulla Agnihotri (Director, Trichy) 5

7 AboutTrichy Trichy is located in Trichy - a city historically known for education, art and culture. It has three flagship programs: Post Graduate Program (PGP), Fellow Program in Management (FPM) and Post Graduate Program in Business Management (PGPBM). Through its faculty research, flagship programs and executive education, Trichy aims to prepare young minds to contribute to the betterment of the global society. The institute is in its 4th year of operations and is in the process of building its permanent campus. The institute currently operates from the campus of National Institute of Technology (NIT) Trichy. For more information, please visit Conference Contacts at Trichy- Chennai Centre CGC Desk: & 66 ( Mr. Ravikumar) : (Prof. Jijo Lukose) cgc2014@iimtrichy.ac.in 6

8 Principal Sponsor INVESTORS PROTECTION FUND Hkkjrh; izca/k lalfkku fr:fpjkiyyh INDIAN INSTITUTE OF MANAGEMENT TIRUCHIRAPPALLI