By Kingshuk Nag
The counting of votes within the common elections of 2014 all started at the morning of sixteen may perhaps. via mid-day, the Bharatiya Janata occasion stormed into energy with a whole majority within the Lok Sabha, the single different celebration after the Congress in 1984 to have got this kind of resounding mandate.
The BJP lines its origins to the Bharatiya Jana Sangh, initially manage by means of Syama Prasad Mookerjee in 1951 to absorb the reason for Bengali Hindus in erstwhile East Pakistan. a section participant in Indian politics, the Jana Sangh merely entered the large league after it solid an alliance with numerous different gamers to shape the Janata get together and tackle Indira Gandhi in 1977. This coalition broke up in 1980, and it used to be then that the BJP emerged in its current avatar. this day, the celebration has a pan-Indian presence with a loyal base, not only in the nation but in addition one of the Hindu diaspora all over the world. besides the fact that, the BJP’s awesome upward push has now not been with no struggle.
It used to be merely in 1998—nearly twenty years after its founding—that the get together first tasted strength. Voted out in 2004, the BJP sat within the competition for a decade prior to taking over the reins back in 2004. And, whereas the BJP, when you consider that its inception, has provided a favored democratic replacement to the Congress, it has struggled to shed its picture of being openly wedded to the pro-Hindutva agenda.
In The Saffron Tide, a well timed biography of the BJP, Kingshuk Nag strains the heritage of the occasion of India, and crystal-gazes to estimate the path that it'll chart for itself within the coming years. Balanced, informative and thought-provoking, this quantity could be crucial for a person attracted to the political historical past of post-Independence India.
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Such differences between liberal and nonliberal market economies serve to substantially increase levels of insecurity among workers (Cappelli et al. 1997: 37; Lazonick and O’Sullivan 2000: 18; Barker and Rueda 2007). For these reasons, a Left government might not be expected to favor a form of corporate governance that pushes firms toward a more ruthless and cost-oriented attitude vis-a`-vis employees. A second consideration concerns income inequality. 23 One of the causes of the more unequal remuneration environment in LMEs arises 23 Between 1945 and the mid-1980s, the ratio of median executive pay (including bonuses and stock options grants) to average wages in the United States remained relatively stable.
Professional money managers. Strong. Often close to management. Strong, autonomous. Determined by market signals in capital markets. Shareholder value maximization. Arm’s length, diversified, no ownership. Lower ratio of debt-toequity. Hostile bids important. Weak, indirect. Controlling owner. Families, nonfinancial corporations, banks, the state. Weak. Close to controlling owner. Weak, close to controlling owner. Directly supervised by controlling owner. Dependent on preferences of controlling owner.
According to finance theory, two distinct models of corporate governance are available to overcome the problem of managerial agency costs: the blockholder model and the shareholder model (Gourevitch and Shinn 2005: 4). 1. According to the blockholder model, the owners of capital seek to obviate agency costs by establishing a significant degree of direct control over the management of individual public companies, normally through ownership of a large proportion of the company’s equity capital (Stiglitz 1985; Allen and Gale 2000).
