EVALUATION OF FUNCTIONING CHARACTERISTICS AND ETHICAL LEADERSHIP QUALITY OF INDEPENDENCE DIRECTORS - AN INVESTORS’ PERSPECTIVES

This aim of the study corporate governance is a structure used to manage and direct the affairs of the corporate company in order to enhance its business prosperity and accountability with objective of achieving long term shareholder value in addition to taking the interests of other stakeholders into account. The purpose of the study to critically examine the mode of appointment of independent directors to boards under the companies Act 2013 and study the board culture. The main objectives of the study evaluate the functioning characteristics of independent directors by the socioeconomic characteristics of corporate stakeholders of public limited companies in Mumbai, Andheri region, ethical leadership quality of the independent investor's perception of the public limited companies. The present study comprises of both primary and secondary data. The Primary data is collected by conducting questionnaire based survey among the population of corporate investors of Public Limited Company in Andheri Region of Mumbai. The snowball sampling technique is used to select the sample respondents from the investor's population. The size of investors sample is fixed at 400. The statistical tools were used analyses percentage analysis, Correlation and ANNOVA. The concluded of the study the investors, it was understood that the independent directors were better in understanding of their role & responsibilities, worked well with others, possessed required business / industry knowledge, made available themselves when need, attended the board meetings regularly, devoted time to oversee company affairs, always alert and inquisitive, never hesitated to ask hard questions in board meeting, challenged management assumptions and had clear understanding of role & responsibilities of the board.