Download or read book Corporate Governance in India Impact on Firm Performance written by Preeti Kumari and published by . This book was released on 2020 with total page 12 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate India witnessed the burgeoning economic growth since the 1990s that brought to the forefront the need for Indian companies to adopt corporate governance standards and practices, which are in line with international guidelines. This paper contributes to the existing literature by providing a review of the conceptual as well as empirical researches in the area of corporate governance and firm performance by highlighting the relationship between the corporate governance mechanisms (board size, board composition, frequency of board meetings, CEO duality) and firm performance. The research findings are contradictory and inconsistent. Some studies founded a strong positive association while some reported negative relationship between corporate governance mechanisms and firm performance while others did not found any significant relationship between the two.

Download or read book Corporate Governance Mechanisms and Firm Performance written by Shveta Singh and published by Springer Nature. This book was released on 2022-05-12 with total page 204 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book begins by analysing the various corporate governance mechanisms explored in the extant literature and determining their effectiveness in enhancing the firm value using multivariate analysis. The findings are of global relevance as the corporate governance regulations of most countries focus on independent directors as the mainstay of good governance. The empirical evidence from the first objective of this study corroborates the claim that independent directors do not strengthen the firms’ governance quality. The book is one of the few works to have analysed the possible reasons behind the ineffectiveness of the independent directors. Also, in view of the famous concept of the bundle of governance mechanisms, it might be possible that the independent directors strengthen the firms’ governance quality indirectly by strengthening other governance mechanisms. This aspect too has little precedence. This study adopts a novel moderation and mediation approach to analyse the monitoring behaviour of independent directors in relation to other governance mechanisms. The work is a must read for corporate players as well as researchers and scholars studying this discipline.

Download or read book Impact of Corporate Governance on Firm Performance written by Aswathy Mohan and published by . This book was released on 2018 with total page 10 pages. Available in PDF, EPUB and Kindle. Book excerpt: The study of corporate governance is gaining momentum as corporate governance compliance has been made mandatory. Even though made mandatory, the number of corporate governance issues are on the rise. The high profile scandals in Enron, World Com and also the Satyam scandal, Tata Mistry issues in India have also stimulated policy makers, investors, academicians and other stakeholders. Innumerable studies have investigated the relationship between corporate governance factors and performance, Spanos (2005) argues that corporate governance has significant implications for the growth prospects of an economy. In spite of the numerous studies, the results rather remain inconclusive. The variables considered in the model are measures of firm performance like Return On Equity (ROE) and Price to Book ratio (PB ratio) and corporate governance characteristics which include board composition, board size and CEO duality. The model used for analysis also included certain firm specific variables. These firm specific variables are financial leverage, asset turnover and growth in sales. To investigate the impact of corporate governance structure on firm performance, the study used a panel data OLS regression model for a sample of 30 firms quoted in the Bombay Stock Exchange. The results of the panel data analysis show that the CG factor, namely CEO duality and board size has a significant negative impact on firm performance whereas board composition revealed no significant impact on firm performance. It reveals that there is a need to undertake the monitoring process to lead to superior firm performance and indicates the need for firms to separate the post of CEO and Chair in order to ensure optimal performance. The results also suggest the leverage and asset turnover to have a significant positive impact on firm performance. The results may not be conclusive, as the inclusion of other corporate governance and performance variables would also be considered. Moreover, the corporate governance impacts on firm performance may vary from one industry to another which is another area that can be examined.

Download or read book A Study of Impact of Corporate Governance Practices on Firm Performance in Indian Japanese and South Korean Companies written by Pooja Gupta and published by . This book was released on 2013 with total page 19 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate Governance exists today at a complex intersection of law, morality, and economic efficiency. Governance issue arises whenever a corporate entity acquires a life of its own and the ownership of the enterprise is separated from the management. Corporate Governance is needed to create a corporate culture of consciousness, transparency and openness. It enables a company to maximize the long term value of the company which is seen in terms of performance of the company. In this context, an attempt is made in this paper to study various Corporate Governance practices followed by companies in India, Japan and South Korea. A sample of five multinational companies from each country is studied based on the Corporate Governance practices that are being followed by them. This will include parameters like Board Constitution, Board Structure, Different Committees, Independent Directors and their roles, Conflict of interest and Disclosure of information. The objective is to determine if there is a relationship between corporate governance and firm performance. The study will check whether higher and better corporate governance scores lead to better performance of the companies. It is found in the study that corporate governance practices have limited impact on both the share prices of the companies as well as on their financial performance.

Download or read book Corporate Governance and Chairmanship written by Adrian Cadbury and published by OUP Oxford. This book was released on 2002-10-03 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has become a major issue in business over the last decade. Adrian Cadbury has played a central role in developing policies, good practice, and our understanding of the complex issues involved. In 1992 he chaired the committee, sponsored by the Bank of England, whose Report on the Financial Aspects of Corporate Governance (commonly known as the 'Cadbury Report') put issues of corporate governance on the map. Ten years on, Cadbury now reflects on issues of corporate governance and chairmanship drawing on his own business and policy-making experience. In the book, he discusses and explains the central issuse of corporate governance; provides practical advice to chairmen and directors on their roles and responsibilities; and surveys the major codes of practice that have been developed in the last decade. He also considers the implications of the current review of company law and speculates on the implications of electronic developments for shareholders' voice and voting, the extent of a company's social responsibility, and the changing relationship between boards, managers, and investors. This book is both an informed commentary and a practical guide. Cadbury's insights will prove essential reading for anybody taking on senior roles in companies and other public organizations, and will provide well-grounded analysis for management academics, students, and advisers.

Download or read book Corporate Governance written by Vasudha Joshi and published by Foundation Books. This book was released on 2004 with total page 188 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance is part of an economy's system which has today become the most important mechanism for resource allocation. It is affected by capital market, block holders, institutional investors, proxy wars, company law and capital market regulations, and many other macro-economic as well as political factors. Historical evolution of corporate governance naturally has a bearing on current developments. This book is an attempt to weave these factors together coherently. Much of the concerned literature revolves around the agency problem, while in developing countries expropriation of small shareholders is the governance problem. However, shareholder activism is not likely to resolve the issue. Many more measures, from audit committees of the board, rigorous disclosures, exercise of voting rights by institutional investors, strict monitoring by capital market regulator to takeover bids are required to ensure corporate accountability.

Download or read book Corporate Governance and Organisational Performance written by Naeem Tabassum and published by Springer Nature. This book was released on 2020-06-28 with total page 335 pages. Available in PDF, EPUB and Kindle. Book excerpt: Establishing a corporate governance strategy that promotes the efficient use of organisational resources is instrumental in the economic growth of a country, as well as the successful management of firms. This book reviews existing literature and identifies board structural features as key variables of an effective corporate governance system, establishing a multi-theoretical model that links Board structural characteristics with firm performance. It then, using a comprehensive empirical study of 265 companies listed on the Karachi Stock exchange, tests this conceptual model. This research serves as a significant milestone, reflecting the socio-economic setting of emerging economies, and highlighting the need for the corporate sector in emerging markets to move away from a 'tick-box' culture. It argues that the sector needs to implement corporate governance as a tool to mitigate business risks; appoint and empower non-executive directors to achieve an effective monitoring of management; and establish their own ethical and governance principles, applicable to the Board of Directors. Based on an extensive data base, collected painstakingly over five years, this book offers new insights and conceptual framework for further research in this area. Given the breadth and width of the research, it is a useful source of future reference for students, researchers and policy makers.

Download or read book Governance Led Corporate Performance written by Apu Manna and published by Emerald Group Publishing. This book was released on 2019-08-21 with total page 147 pages. Available in PDF, EPUB and Kindle. Book excerpt: Governance-Led Corporate Performance explores the corporate governance system for developing economies, and provides a comprehensive analysis of the relationship between ownership structure, board composition, director multiplicity and CEO duality in relation to corporate performance.

Download or read book Corporate Governance in Developing Economies written by Robert W. McGee and published by Springer Science & Business Media. This book was released on 2008-10-15 with total page 298 pages. Available in PDF, EPUB and Kindle. Book excerpt: Much has been written about the economic and political problems of countries that are in the process of changing from centrally planned systems to market systems. Most studies have focused on the economic, legal, political, and sociological pr- lems these economies have had to face during the transition period. However, not much has been written about the dramatic changes that have to be made to the accounting and ? nancial system of a transition economy. This book was written to help ? ll that gap. This book is the sixth in a series to examine accounting and ? nancial system reform in transition and developing economies. The ? rst book (Accounting and Financial System Reform in a Transition Economy: A Case Study of Russia) used Russia as a case study. The second volume in the series (Accounting and Financial System Reform in Eastern Europe and Asia) examined some additional aspects of the reform in Russia and also looked at the accounting and ? nancial system reform efforts that are being made in Ukraine, Bosnia and Herzegovina, Armenia, Eastern Europe, and Central Asia. The third volume (Taxation and Public Finance in Tran- tion and Developing Economies) examined taxation and public ? nance in transition and developing economies. The fourth volume (Accounting Reform in Transition and Developing Economies) examines accounting reform in transition and devel- ing economies.

Download or read book Corporate Governance and Firm Performance written by Akshita Arora and published by . This book was released on 2015 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has become the latest buzzword in India triggered by the series of scandals and failures in the corporate world. The purpose of this study is to examine the impact of corporate governance on firm performance for a large representative sample of Indian manufacturing firms for the period 2001-2010. For the analysis purposes, we use five different but alternative measures of firm performance i.e., Return on Assets, Return on Equity, Net Profit Margin, Adjusted Tobin's q and Stock Returns. We also utilize several alternative specifications and estimation techniques to test the robustness of estimation results. Results of the analysis show that corporate governance has a significant and sizable impact on Tobin's q but its relationship with other firm performance measures does not seem to be very robust. The findings indicate that corporate governance improves the industrial performance in India but the linkage is not very strong as of now. This research can alert policy makers in the developing countries to the need for increasing the awareness of board in the context of corporate governance reforms.

Download or read book Corporate Governance and Firm Performance in Indian Pharmaceutical Sector written by Akshita Arora and published by . This book was released on 2015 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Corporate governance has received a lot of attention in India because of the scandals that have taken place in the corporate world in the last two decades. Investors are also concerned over the relationship between corporate governance and performance indicators. In this context, our study empirically examines the impact of corporate governance on firm performance for Indian firms for the period 2001-2010. We utilize a range of measures of corporate governance including board size, outside directors, number of meetings held and firm performance variables covering both market-based and financial indicators. For empirical analysis, different specifications like fixed effects and simultaneous equation method have been employed for the robustness of the results. Findings of the analysis suggest that corporate governance has a significant impact on firm performance.

Download or read book Corporate Governance Mechanisms and Firm Performance written by Pankaj Varshney and published by . This book was released on 2012 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Numerous studies have analyzed the relationship between corporate governance and firm performance but those have primarily been in the context of western countries. Early studies linking corporate governance and firm performance explore the impact of various aspects of corporate governance such as composition and size of boards, frequency of board meetings (board activity), number of directorships (board busyness), CEO-Chair duality, and ownership structure on firm performance. In this paper, we examine the relationship between four corporate governance variables (a) composition of board, (b) size of board, (c) board activity, and (d) CEO-Chair duality and firm performance using Economic Value Added (EVA) as the primary performance measurement metric.

Download or read book Looking at and Beyond Corporate Governance in India written by Seema Joshi and published by Springer Nature. This book was released on 2023-11-01 with total page 227 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book explores theoretical and empirical perspectives on corporate governance and sustainability and reflects upon India’s three decades of corporate governance reforms. It provides a solid base of information culled from extensive empirical research. It will contribute to the 2030 agenda of the United Nations on Sustainable Development Goals by lighting the way forward and enhancing the convergence of corporate governance with sustainability in business entities. Adopting a credible and uniform sustainability reporting framework and cultivating a pervasive “sustainability culture” through effective “sustainability leadership” has become a business imperative. It will be highly relevant for all stakeholders, including shareholders, boards of directors, managers, academicians, and researchers, and it will empower, enrich, and enable them to gain more conceptual clarity and empirical understanding of corporate governance and sustainability issues. In addition, it shows the pathway for policymakers and practitioners to address the myriad challenges that emanate from sustainability by suggesting new approaches emerging in the critical domain of corporate governance.

Download or read book Evidence from Indian Companies Towards Corporate Governance and Firm Performances written by Vaishali Jain and published by . This book was released on 2015 with total page 5 pages. Available in PDF, EPUB and Kindle. Book excerpt: In today's emerging market corporate governance has a significant impact on firm performances. To study this relationship the existing literature was reviewed and a examined the relationship between the performance of firm and corporate governance characteristics for selected Indian firms. Annual reports of the selected companies were studied to collect the secondary data and major information relating to board size, number of independent directors and dual responsibility status of CEO was extracted. Descriptives were calculated for the variables under study and correlation was computed to analyze the relationship between those variables. In order to test the significance of the relationship Regression analysis was done. It is found that CEO Duality has a weak positive correlation ship with the financial performance of the firm. The proportion of independent directors is also positively correlated with financial performance indicating that more the number of independent directors in the board, better is the financial performance of the firm and better is firm management.

Download or read book Independent Directors Corporate Governance and Company Performance India written by Dr Ramasubramanian and published by . This book was released on 2020 with total page 44 pages. Available in PDF, EPUB and Kindle. Book excerpt: This study suggest that the independent directors role needs to strengthened to achieve the desired goal of corporate governance. In india, despite being listed, there is family ownership structure. This has an important influence on the priorities set by the board, and that these priorities will determine the firm performance and corporate governance, despite independent director monitoring,It is found that where independent directors enjoying good trust with the family councils and have financial experience could ensure success to the best interest of the widely dispersed shareholders and stakeholders.Understanding the influence of family and role of independent directors on the board of directors in turn on firm performance requires greater sensitivity to how corporate governance affects different aspects of effectiveness for different stakeholders and in different contexts.Hence a framework on the interaction between ownership, corporate boards and firm performance could help.This paper looks into the current scenario in Indian Corporate Sector and examine the role of Independent Director in Corporate Governance, in particular.We are looking at Companies Registered in India and how the role of Independent Directors brings about better corporate governance and whether this brings about improved company performance.Recourse to independent directors by private equity investors per se is not tied to performance increases. . Our study shows that independent directors impact the rate of return only on deals which require very specific skills, i.e. turnaround and buyout investments. Besides, busy independent directors do not seem to affect negatively the internal rate of return. Finally,independent directors tend to resign when performance is unsatisfactory and consent to shave losses when performances are negative.We are aware that Independent Directors (IDs) play a critical role in implementing sound corporate governance practices in companies.

Download or read book Impact of Corporate Governance on Firms Performance written by Venkatraman Karpagam and published by LAP Lambert Academic Publishing. This book was released on 2014-12-18 with total page 256 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book examines the impact of Corporate Governance Mechanism on the performance of sample firms listed in NSE. The success or failure of firms mainly depends on the extent to which the firms are managed efficiently. The performance of firms is influenced by Corporate Governance Mechanism in India. The study of governance mechanism would be helpful for the shareholders to take better investment decisions. Besides, it is also helpful to corporates to organize accounting and auditing transparently and synchronies reporting system with global standards. It is beneficial for the firms to enhance the quality of corporate strategy, financial integrity of their organisations to protect the interests of all the stakeholders including creditors, investors, policy makers, apex regulating bodies and the economy as a whole. Besides, it increases the responsiveness of the firm to the needs of the society.

Download or read book Impact of Corporate Governance Mechanism and Firm Performance with Special Reference to BSE Listed Companies in India written by karpagam Venkatraman and published by . This book was released on 2013 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: The Corporate Governance (CG) investigates how to secure, motivate efficient management of corporation by the use of mechanism, such as organizational designs, directors and boards. The adequacy and quality of corporate governance shapes the growth and future of emerging economy. Without good corporate governance, it is exceedingly difficult to increase the shareholder's value and protect the interests of other stakeholders of a company. The objective of this study is to explore the corporate governance mechanism that influences the firm performance. The paper analysed board independence and financial performance of listed companies in Bombay Stock Exchange (BSE 100) during the study period. The study found that corporate governance mechanism which incorporated Promoters' Ownership and Profitability creates more opportunity and resources for better performance.