Businesses built on a foundation of strong corporate governance principles and
practices are far more likely to tide over adverse economic conditions, than those which are
not. The financial crisis of 2008, leading to the decline and fall of several large
institutions, resulted in corporate governance being at the centre of attention of institutional
investors. There is increasing recognition that governance is an investment, and not an item of
cost. There is overwhelming evidence to show that institutional investors are attaching
considerable importance to the practice of corporate governance by existing and potential
So how do we find companies which stand out from the crowd, in terms of governance as well as financial performance?
Enter Airawat Indices!
Airawat is a joint venture between Excellence Enablers, a specialist in matters of corporate governance, and Decimal Point Analytics, a tech-enabled research and data analytics firm. Airawat Indices offer indices based on a detailed methodical approach to evaluate Indian companies on both financial and corporate governance parameters.
Mr. M. Damodaran, widely acknowledged as one of India’s foremost champions of corporate governance, is jointly spearheading the initiative.
Data used for financial and governance parameters is based on publicly available information.
Most existing equity indices focus on financial parameters, ratios and
Airawat seeks to capture both the financial and the corporate governance aspects of quality investing in its index, comprising mid-cap stocks.
While the financial aspects capture return on equity, financial leverage, and earnings variability, to name a few, corporate governance aspects factor in composition of board and committees, diversity, audit reports, disclosures and regulatory track record, among others.
Decimal Point Analytics
Chairperson, Excellence Enablers
CEO, Decimal Point Analytics