Title: Corporate governance and firm performance of listed Indian companies

Authors: Premananda Sethi; Tarak Nath Sahu; Sudarshan Maity

Addresses: Department of Commerce, Vidyasagar University, Midnapore-721 102, West Bengal, India ' Department of Commerce, Vidyasagar University, Midnapore-721 102, West Bengal, India ' The Institute of Cost Accountants of India, 12, Sudder Street, Kolkata-700016, West Bengal, India

Abstract: The present study investigates the interrelationship of corporate governance parameters like board independence and corporate board meetings. The other important control variables like age, leverage, firm's liquidity and size of the firm have been employed to analyse the alliance between corporate governance, vertical agency cost and performance of the firm. The study considers data corresponding to a panel of 76 non-financial firms during 2010-2019 listed in the National Stock Exchange, India. The study tries to empirically evaluate the association between corporate governance parameters and performance of the firm. By selecting the static panel data regression, researchers found no significant impact of corporate board meeting and board independence on firm performance. The study also documents a positive and significant relationship between board independence and asset utilisation ratio. Further, corporate board meetings have a negative relationship with vertical agency crisis.

Keywords: corporate governance; firm performance; vertical agency crisis.

DOI: 10.1504/IJBGE.2023.133115

International Journal of Business Governance and Ethics, 2023 Vol.17 No.5, pp.573 - 588

Received: 07 Jan 2022
Accepted: 13 Feb 2022
Published online: 01 Sep 2023 *

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