Findings of the study are based on various theoretical perspectives and empirical literature on corporate governance practices in companies of both Indian and abroad countries. Furthermore, this chapter provides a summary of the conclusions drawn from the various general & objective variables. It also discusses the differences and comparisons’ of corporate governance practices in companies of Indian and abroad countries. Finally, recommendations for the code of best practice and the proposed conceptual framework for future research are summarized.
The structure of the chapter is organized as follows. Section 7.2 provides an overview of the research questions 7.3 the objectives of the present study 7.4 major findings and inferences drawn from the study 7.5 presents the conclusion to the study.

Overview of the Research Questions
Hypotheses:
1. Organizations in countries with poor governance practices find it difficult to globalize and enter foreign markets for business.
2. Also good governance is essential to prevent financial crises and to build image and credibility.
3. There will not be any differences in the quality of governance between Indian and foreign companies
The purpose of this thesis has been to explore the efficacy of corporate governance practices in companies of India and abroad, which identifies the differences and comparisons’ of corporate governance practices in companies of Indian and abroad.

The study observed the organizations in countries with poor governance practices leads to higher risk, lower returns so for them it’s very difficult to globalize and enter foreign markets for business.

Appropriate corporate governance practices enhance the image, credibility and reputation of the companies.
Companies around the world are realizing that better corporate governance adds considerable value to their operational performance; India still needs to improve its standard of the same and cover up for the weaknesses when compared to abroad companies.

Therefore this study used a comparative analysis to analyze the differences and comparisons of corporate governance practices in companies of India and abroad in the financial years 2014-15 & 2015-16.

7. 3 The objectives of the present study are:
1. To review the literature on corporate governance in the companies’ websites.
2. To study and analyze the differences between Indian and foreign companies with reference to corporate governance practices.
3. To examine whether good governance code or best practices code exists in all companies taken for the study.
4. To study how many independent directors (non executive) are there in the boards of the companies selected?
5. To examine the accounting standards and quality of financial reporting system.
6. To evaluate general accountability and transparency of the board and management functions.
7. To study the corporate governance mechanism set by each company.
8. To examine whether the companies selected for the study, follow an honest corporate culture and an internal ethical environment for successful governance.
9. To study the belief of the companies on corporate governance.
10. To evaluate whether corporate governance is able to resolve conflicts between various categories of stakeholders particularly between owners and managers of the company.

Major Findings of the study:
The present study reviewed the corporate governance literature and it is found that both Indian and abroad companies are presented their Corporate Governance literature in the companies’ Websites and Annual Reports.(Refer Webliography 2 & Bibliography – corporate governance links1, 2 & 3)

This study revealed that there are some minor differences in the corporate governance practices among the Indian and abroad companies. (Refer chapter 5 by analyzing the data of 100 companies corporate governance practices)
The study examined all the companies’ corporate governance practices and found that they have good Corporate Governance code and best practices exist in both Indian and abroad companies.

The study observed the existence of Independent Directors and counted the number of independent directors, it is found that all the Indian companies have mentioned independent directors separately but in abroad companies some companies mentioned and some not.(Refer Appendix 8 Table 25 & Appendix 1)

The study examined the accounting standards and quality of financial reporting system; it shows that many countries use or are converging on the International Financial Reporting Standards (IFRS) that were established and are maintained by the IFRS Foundation  and International Accounting Standards Board. In some countries, local accounting principles are applied for regular companies but listed or large companies must conform to IFRS, so statutory reporting is comparable internationally. Remaining countries they are following ‘Generally Accepted Accounting Principles – GAAP’ (Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 26)

The study evaluated the accountability, transparency of the board and management functions, it is clearly understood that all the companies shows the above factors to their internal and external stakeholders. (Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 27)

The present research studied the Corporate Governance mechanism set by each company; it is found that either Indian or abroad companies they are following their country’s statutes, corporate structure, culture and globally accepted OECD established Corporate Governance principles.

(Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 28)
It is examined the honest corporate culture and internal ethical environment, showed that all the companies reported they have honest corporate culture and internal ethical environment. (Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 29

The study showed the companies’ belief on corporate governance that balancing the interests of the companies’ stake holders such as shareholders, management, customers, suppliers, financiers, government and the community. It is also improving the efficiency, growth, gaining investors confidence and ultimately success of the companies’. Hence majority of the companies have belief on corporate governance. (Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 30)

It is evaluated the corporate governance principles existed in India and at international level, it is found that clear corporate governance principles able to resolve the conflicts between owners and managers of the companies. (Refer Webliography 2, 3 & 4, bibliography corporate governance links 1, 2 & 3 Appendix 8 Table 31).

Conclusions:

The present study indicates that majority of the companies are maintaining confidentiality and some of the companies’ information is not available regarding confidentiality.
The study shows that there is a strong framework of code of conduct in all the companies.
Boardroom culture emerged in all the companies.
The study reveals that all the companies constituted the audit committee.
The study shows that remuneration committee constituted by all the companies.
The study revealed that majority of the companies they are not maintaining the information regarding the establishment of grievance committee.
This study show that majority of the companies they have share transfer system.
This study denotes the majority of the companies they appointed compliance officer.
The study tells that every company is maintaining the disclosure document.
The study reported that all the companies they are maintaining transparency.
Every company they are having their websites.
The study revealed that majority of the companies they are having whistle blower policy.
This study denotes that majority of the companies are not presenting the constitution of ethics committee.
The study shows all the companies they are conducting meetings and taking attendance.
The study shows that majority of the companies they are not presenting the constitution of HRM committee.
It shows that Information is not available regarding the health, safety and environment committee in majority of the companies.
The study shows that majority of the companies they constituted the code of insider trading.
The study denotes that half of the companies they are not presenting Information regarding the conduct of secretarial audit.
The study shows that majority of the companies they constituted the subsidiary companies committee.
The study shows that half of the companies they constituted the shareholders committee
The study presented that all the companies they are maintaining fairness.

There are several limitations inherent in this study.

The study to be conducted will have certain limitations which have to be taken into consideration along with the contributions of the study.

The population taken for the study is from Indian public and private sectors i.e. vastly scattered sectors therefore it’s a challenging task to get exact results. Although the companies taken for study are true representative of their respective sectors still as far as generalizations of the results is concerned it also brings limitations. But by understanding about this particular case, conclusions might be drawn about the sectors in general.
Another limitation could be that while collecting information from the web and published sources, it might prove to be a difficult task as concept of Corporate Governance is vast in different directions.

This concluding chapter has discussed the differences and comparisons’ of corporate governance practices of companies in Indian and abroad, which leads to the central argument of the study. Corporate governance variables such as general, objective and hypotheses are considered important to know the differences’ in corporate governance practices. It was found that that there are some minor differences in the corporate governance practices among the Indian and abroad companies.

It was suggested that future research should be carried out with a larger sample after the introduction of the mandatory code of best practices from 1992 to 2012. The recommendation for code of best practice on corporate governance suggested inclusion of stakeholders’ interest. Finally, the recommendations for future research proposed a normative conceptual framework and suggested the CSR strategy of firms should be directed at the socio-economic development of the country, which may have an impact on profitability and stock market performance in the long term.

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