Corporate frauds in India perceptions and emerging issues

Recent decades havewitnessed the sharp increase in the greed of individuals and organisations and haveacquired an inevitable presence in our lives and society. Corporate frauds andmisconduct remains a constant feature posing a threat both from the macro and microprospectives of the economy. Liberalisation process in developing economies hastypically witnessed a series of scams almost with sickening regularity. Corporate fraudshave become a global phenomenon with the advancement of commerce and technology.In recent decades, fast-growing economies observed an enormous increase in corporatefrauds, posing serious questions before the academicians, researchers and professionalson the effectiveness of corporate governance mechanisms, government regulationmechanism and the role of corporate and individual ethics. Recently, a number of studiesin the finance, economics and law literature have been conducted on the understandingof incentives and monitoring deterrents of corporate frauds and the loopholes in thegovernment control systems.