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A Research Initiative

Independent Directors (IDs) play an important role at the Board level and are expected to be the torch bearers of corporate governance. It is imperative for the independent directors to understand the underlying framework of corporate governance in India for designing and implementation of corporate governance best practices. The practice of the profession of independent directorship requires a sound body of knowledge towards the corporate governance challenges emanating from the interaction of the corporate entity with various financial and non-financial aspects relating to laws and regulations, markets, finance, investment, technology, stakeholders etc. The field of corporate governance is ever evolving and board of directors require to develop multi-dimensional and interdisciplinary skills. This research initiative is to fulfil this need.


The Scheme on inducing research initiatives is about implementation of strategic plan associated with the initiative of instituting the databank of independent directors with a sole objective of building their capacities by imparting skills and knowledge that is based on solid research.

It has been widely advocated that the Independent Directors need to operate ethically. The present practices which are followed by the industry have several value conflicts. Therefore, there is a strong need to have a better research-based understanding of those value conflicts and how to overcome them in board settings.

The long-term goal of the research initiative is to generate a body of knowledge that enables the development of the independent directors as professionals.


  1. Academicians with requisite demonstrable research experience and possessing a Ph.D. degree or equivalent research work in relevant field.

  2. Practitioners/Professionals associated with the practice of corporate governance preferably having experience of the board in public/private sector. The applicant in the category is expected to have demonstrable research experience.

  3. The applicant may be associated with IICA, a partner institution to ID databank or any other academic institute/ think-tank / non-government organization or industry body representing public or private sector.


  1. Proposals will be submitted as per guidelines for proposal submission.

  2. Proposals would be initially scrutinized by the Center for Independent Directors, School of corporate Governance & Public Policy, IICA following a blind peer review.

  3. The shortlisted proposals would be invited for an interaction/ presentation.

  4. The recommendations would be placed before the competent authority at IICA for grant of the research award.

  5. The decision of the competent authority at IICA would be final.

  6. The research proposals and research output will be an Intellectual Property of IICA for its usage in any of the form it may deem fit.

Nature of Award

The award will be given for two types of research proposals as given below:

Group A: Micro Research study involving research duration of upto 3 months for award of Rs 5 lakh maximum.

Group B: Macro Research study involving research duration of upto 6 months for award of Rs 10 lakh maximum.


The research proposals are invited on a theme addressing to corporate governance practices and its intersection with interdisciplinary areas. Examples, of some topics are given below:

  1. Corporate governance and market-based control

  2. Minority shareholder rights

  3. Corporate structures and impact on corporate governance

  4. Role of large shareholders and institutional investors

  5. Corporate governance of family business/groups

  6. Performance assessment of boards/directors

  7. Gender and board diversity

  8. Role of Audit and auditors

  9. Internal finance controls

  10. Accounting standards and corporate governance

  11. Corporate governance and competition issues

  12. Governance based disclosure practices and earnings management

  1. Related party transactions

  2. Role of proxy advisors in governance

  3. Governance by/of financial institutions and institutional investors

  4. CG and responsible business conduct

  5. Pre and post Insolvency corporate governance issues

  6. Mergers and acquisitions and corporate governance

  7. Corporate governance index

  8. Role of value, ethics, and trust in governance

  9. Digitization, technology and governance

  10. Implications of the Insolvency and Bankruptcy Code on governance

  11. CG and ESG related issues

Guidelines for Proposal Submission


This document is to assist in setting out the proposal, in terms of text layout, section headings and sub-sections.

The Research Proposal is a complete description of an intended research. Through the full proposal, the author needs to demonstrate convincingly that the study will make a contribution to a corporate affairs issue or problem. The full research proposal must be between 5 and 10 pages and should present the following:

  • Title

  • Brief Introduction

  • Background and statement of the problem (this in light of a thorough literature review)

  • Research question or hypothesis, aim and objectives

  • Study design (type of study)

  • Study population and sampling

  • Data collection methods and instruments

  • Data analysis methods - if applicable, statistical planning must be fully addressed or the author should provide evidence that statistics are not required

  • Mechanisms to assure the quality of the study - e.g. control of bias, safe storage of data

  • Study period - Timetable for completion of the project

  • Participants in the study - all people involved in the study, role they play; should be identified.

  • Ethical considerations

  • Resources required for the study, including budget

  • References

  • Appendices (copy of questionnaire, consent forms, etc.)

How to Apply

The proposals should be submitted as per Guidelines for Proposal Submission and include the following:

  1. A concise summary of the research proposal (about 1000 words).

  2. A detailed research proposal clearly mentioning the objective of research, research methodology and design, review of literature, nature of data to be used, method of data collection, anticipated output and outcomes of research, possible impact of research on body of knowledge etc.

  3. Detailed bio of the principle and co-researcher (if any).

  4. Forwarding details of the institution where the researcher is employed

  5. Detailed budget for the research proposal mentioning various components of the costs such as data, survey, travel, books etc.

  6. The proposal should be submitted to the IICA in three printed copies to –

Dr. Niraj Gupta, Head, School of Corporate Governance and Public Policy at the following address

Indian Institute of Corporate Affairs
Plot No. P 6, 7, 8; Sector 5, IMT Manesar, Gurgaon (Haryana), PIN 122052

An advance softcopy of the same can be shared to following Email IDs before the last date.

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