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To Study the Effect of Corporate Governance on the Performance of Indian Listed Firms: A Comparative Panel Data Analysis
NeuroQuantology ; 20(10):9268-9282, 2022.
Article in English | EMBASE | ID: covidwho-2067324
ABSTRACT
Purpose –This study aims to provide empirical evidence on the relationship between corporate governance and firm performance during pre and post-pandemic. The pandemic's effect on businesses, especially those of developing nations, served as a motivating factor for the author. Methodology – The balanced panel data were used for firms listed in BSE S&P 500 from the financial year 2018 to 2021. To account for possible endogeneity and unobserved heterogeneity, we employed the Generalised Method of Moments to analyse the relationship between corporate governance and business performance. After excluding financial firms and firms with unavailable data, the sample size was reduced to 285 listed firms. Findings – The study's findings showed that the average board size for Indian firms is over nine and has a significant positive relationship with ROA. ROE and dividend payout in both sampling periods. A significant number of directors bring intellectual diversity and a variety of ideas. However, before the pandemic, board independence had a significant positive relationship with ROA, ROE and TobinQ but a significant negative association with the firm's market value (TobinQ). Further findings revealed that CEO-Duality had a significant negative relationship with firm performance in both sampling periods. Implications-The study's findings provide helpful empirical evidence to policymakers and listed companies in India. Originality-Few studies have examined the relationship between corporate governance and firm performance in pre and post-pandemic periods in emerging markets. Limitation-Although the time frame for this study was restricted, further research might be conducted over a longer time. Future studies could add other factors, such as ownership structure and cost of capital.
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Full text: Available Collection: Databases of international organizations Database: EMBASE Type of study: Experimental Studies Language: English Journal: NeuroQuantology Year: 2022 Document Type: Article

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Full text: Available Collection: Databases of international organizations Database: EMBASE Type of study: Experimental Studies Language: English Journal: NeuroQuantology Year: 2022 Document Type: Article