The IIMB Centre was formally set up in 2003, bringing under a single umbrella the multi-disciplinary contributions and work of various faculty with the following objectives as its mission:
· Improve our understanding of systems of corporate governance in theory as well as in practice, both in India and elsewhere, through conceptual and empirical research.
· Enhance awareness of the imperatives of globally acceptable standards of corporate governance and issues in their actual implementation, through teaching and training initiatives at various levels of business and management education and directorial and executive development for the Corporate as well as for the not-for-profit sector.
· Bring about a balanced and mutually interdependent regime of corporate governance with due regard to the interests of diverse stakeholders and deriving from an ethical and socially responsive platform, contributing to sustainable prosperity of the society and betterment of the environment and quality of life.
· Provide policy support to governments, regulatory agencies, industry associations, and civic society bodies, based on independent research and study of topics bearing upon the Centre’s field of activity.
· Encourage discussions among and between academia and practitioners, disseminate information on these areas through publications, policy briefs, working papers, conferences and seminars, and other such methods, and to encourage such dissemination on its own or jointly with other organizations.
· Establish and pursue collaborative relationships with other like-minded, reputed institutions in India and elsewhere, and encourage faculty and researcher exchange and collaboration in the Centre’s fields of activity.
· Encourage dissemination of research and other information, and provide faculty development support through publications including journals and papers, resources web sites, and other channels of communication.
The Centre was formally inaugurated on the 10th of September 2003, by Judge Merwyn King, formerly of the Supreme Court of South Africa, a leading light in the field of corporate governance and author of the two King Reports dealing with corporate governance in South Africa.
Besides teaching courses in Corporate Governance and Social Responsibility at the MBA level, the Centre offers exclusive training programmes through the Institute’s Executive Education Programme for Company Directors and senior executives of public sector undertakings, including banks while providing policy support in the field of corporate legislation and regulation.
The responsibility for overseeing the activities of the Centre is vested in the Chairman of the Centre who is guided by an Academic Committee comprising senior and experienced Institute faculty from different disciplines like finance and control, marketing, strategy, economics and organization behaviour.
The Centre has been provisionally accredited as a Centre of excellence by the National Foundation for Corporate Governance, a Trust sponsored by the Government of India, Ministry of Company Affairs, for promotion of improved Corporate Governance in India. The Centre has established itself as a repository of knowledge and commitment in the field of corporate governance and corporate responsibility over the short period of five years of its formal existence. It has gained a modest visibility, internationally and domestically, as a Centre of excellence in this field and a preferred partner and associate in joint research and other initiatives.