Title: Ownership structure segmentation of Indian listed firms: a governance perspective

Authors: Ruchi Kansil

Addresses: Vivekananda School of Business Studies, Vivekananda Institute of Professional Studies, Delhi – 110034, India

Abstract: The research paper studies the present ownership structure of S&P BSE 500 Indian listed firms in order to take heed of the expected level of shareholder engagement and the level of governance practices of such firms. The paper employs a cluster analysis approach to identify the distinct cluster or group of firms with probably similar level of shareholder engagement and governance practices. It is found that ownership of publicly listed companies is concentrated in the hands of Indian promoters and non-promoter institutional shareholders. Thus, the institutional investors have become important owners alongside the Indian promoters and can play dominant role in the control and management of the firms they invest in. They would help to enhance corporate governance practices via shareholder activism and engagement. The study is relevant for board of directors (BOD), institutional investors and policy makers, regulators, think tanks, corporates, investors and researchers.

Keywords: corporate governance; ownership structure; cluster analysis; India; ownership segmentation; shareholder activism; shareholder engagement.

DOI: 10.1504/IJMEF.2021.116541

International Journal of Monetary Economics and Finance, 2021 Vol.14 No.3, pp.197 - 211

Received: 01 Apr 2019
Accepted: 25 Jul 2020
Published online: 27 Jul 2021 *

Full-text access for editors Full-text access for subscribers Purchase this article Comment on this article