Board Composition and Performance of Indian State-owned Enterprises: Moderating Role of Leverage

Q2 Business, Management and Accounting

Business Perspectives and Research Pub Date : 2023-04-12 DOI:10.1177/22785337221148295

引用次数: 0

Abstract

Debt holders monitoring influence on the business performance has been noted in several research. Another body of research investigates the board of directors and performance linkages. The impact of debtholders on the board composition and firm performance linkage, particularly in State-Owned Enterprises (SOEs), has received little attention in the literature. As a result, this article aims to determine whether the composition of Indian SOE boards has an impact on their performance. It also looks into how leverage influences the association between the composition of Indian SOE boards and their performance. From 2001 to 2019, the panel data regression is performed on 19 Indian SOEs registered on the Bombay Stock Exchange. According to the study, board size, nominee directors improve Indian SOE performance, while independent directors reduce performance. Furthermore, in high-leverage SOEs, board of directors’ supervision is reduced or removed. The findings have implications for policymakers and the government.

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印度国有企业董事会组成与绩效：杠杆的调节作用

几项研究中注意到，债务持有人监测对业务绩效的影响。另一个研究机构调查董事会和业绩之间的联系。债券持有人对董事会组成和公司业绩联系的影响，特别是在国有企业中，在文献中很少受到关注。因此，本文旨在确定印度国有企业董事会的组成是否对其业绩产生影响。它还探讨了杠杆作用如何影响印度国有企业董事会的组成与其业绩之间的关联。从2001年到2019年，对在孟买证券交易所注册的19家印度国有企业进行了面板数据回归。研究表明，董事会规模、提名董事提高了印度国有企业的业绩，而独立董事则降低了业绩。此外，在高杠杆国有企业中，董事会的监督被减少或取消。这些发现对政策制定者和政府都有启示。

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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来源期刊

Business Perspectives and Research Business, Management and Accounting-Business and International Management

CiteScore

5.00

自引率

0.00%

发文量

期刊介绍： Business Perspectives and Research (BPR) aims to publish conceptual, empirical and applied research. The empirical research published in BPR focuses on testing, extending and building management theory. The goal is to expand and enhance the understanding of business and management through empirical investigation and theoretical analysis. BPR is also a platform for insightful and theoretically strong conceptual and review papers which would contribute to the body of knowledge. BPR seeks to advance the understanding of for-profit and not-for-profit organizations through empirical and conceptual work. It also publishes critical review of newly released books under Book Review section. The aim is to popularize and encourage discussion on ideas expressed in newly released books connected to management and allied disciplines. BPR also periodically publishes management cases grounded in theory, and communications in the form of research notes or comments from researchers and practitioners on published papers for critiquing and/or extending thinking on the area under consideration. The overarching aim of Business Perspectives and Research is to encourage original/innovative thinking through a scientific approach.