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South Asian Journal of Management, suppl Special Issue ; 29(5):164-183, 2022.
Article in English | ProQuest Central | ID: covidwho-2294884


We empirically examine the influence of corporate responsibility spending on manufacturing enterprises domiciled in India. Furthermore, the study scrutinizes the influence that the onset of the Covid-19 posed on these enterprises. The variables considered for this purpose are spanning from 2014 to 2020 which have been extracted from the prowess IQ repository. The investigation designates earnings after taxation as a dependent variable;corporate social responsibility is the independent variable;leverage and enterprise's size as control variables. Evaluation of the data relies on the fixed effect regression approach. The outcome established that CSR spending positively and significantly influences earnings after taxation, whereas a negligible relationship was noted for the return on assets of the enterprises. Lastly, the outcome identified that leverage places a negative significant influence on the enterprises' earnings after taxation and return on assets.

Cogent Business & Management ; 9(1), 2022.
Article in English | ProQuest Central | ID: covidwho-2187880


The current study aims to examine the impact of the pandemic (Covid-19) on the financial performance of some of the selected Indian sectors. The study targets all Indian firms listed on the Bombay stock exchange, which belong to the following sectors (Constructing, tourism and hospitality, food and consumer sectors). The study extracted data of 444 firms from the Prowess database for four sectors. Due to some missing values, the study dropped 73 firms. Therefore, the final sample of this study consists of 371 firms. Results revealed a significant difference in total income, net sales, net profit, earnings per share, and diluted earnings per share before and after the pandemic in tourism, hospitality, and consumer sectors. The result of the study states that there is a significant difference in total income net sales before and after the pandemic in construction. There is a difference in the decline in both sectors' net sales and total income during the pandemic. Conversely, there is no significant difference between net profit, earnings per share, diluted earnings per share before and after the pandemic in constructing and food sectors. Results of the study state that the food sector was not affected by the pandemic, whereas the construction sector reduced its expenses to their minimum. The study also found that the tourism, hospitality and customer sectors were the most effected by the Covid-19 pandemic, followed by the construction sector and food sector, which was a minor sector affected by the pandemic. Most of the prior research on Covid-19 is theoretical, and only a few have conducted an empirical investigation. The study is unique as it evaluates the financial performance of Indian firms before and after the Covid-19 pandemic, which has not been studied yet in the Indian context. Further, this study provides valuable insights to regulators and policymakers about the most affected sectors due to the pandemic by analysing Indian sectors.

Corporate Governance ; 22(2):424-445, 2022.
Article in English | ProQuest Central | ID: covidwho-1691715


PurposeThe purpose of this paper is to analyse the influence of audit committee characteristics and external audit quality on the performance of non-financial public limited companies listed on the National Stock Exchange 100.Design/methodology/approachOne-way random effect panel data regression was applied to 74 non-financial firms in the Nifty 100 from 2014 until 2019. The overall audit committee index and external audit index were built based on the new Indian Companies Act, 2013 and on a review of the literature to capture the impact of the new Act on firm financial performance.FindingsThe outcome of the study revealed that there is lack of evidence to show that audit committee characteristics improve the performance of top Indian non-financial listed firms. However, external audit quality was found to have a significant positive impact on the financial performance of firms as measured by Tobin’s Q, while firm size and leverage were found to have a significant impact on the financial performance of firms as measured by return on assets and return on equity.Practical implicationsThis paper will be greatly beneficial for financial practitioners and policymakers because it provides practical suggestions and recommendations about the types of external audit that are indispensable for the overall effectiveness and performance of firms. The study findings may also aid strategic policy formulation and execution for better corporate governance practices for the purpose of profit and wealth maximisation.Originality/valueTo the best of the authors’ knowledge, to date, no previous research has evaluated the effects of audit committee features and external audit quality on the financial performance of firms in India after the implementation of the new Companies Act, 2013. Hence, this study fills this void in the present literature by examining the overall features of the audit committee and external audit and their impact on firm performance in the setting of India.