Indian Journal of Corporate Governance最新文献_第5页

Emerging Prospects of Shareholder Engagement in India 印度股东参与的新前景

Indian Journal of Corporate Governance Pub Date : 2021-10-06 DOI: 10.1177/09746862211045760

P. S

引用次数: 0

Impact of Board Diversity on Agency Costs in the Context of Agency Theory Approach: Evidence From Listed Companies in Sri Lanka 代理理论视角下董事会多元化对代理成本的影响:来自斯里兰卡上市公司的证据

Indian Journal of Corporate Governance Pub Date : 2021-10-06 DOI: 10.1177/09746862211045758

M. R. Rooly

{"title":"Impact of Board Diversity on Agency Costs in the Context of Agency Theory Approach: Evidence From Listed Companies in Sri Lanka","authors":"M. R. Rooly","doi":"10.1177/09746862211045758","DOIUrl":"https://doi.org/10.1177/09746862211045758","url":null,"abstract":"Effective corporate governance leads the way towards aligning the interest between managers and shareholders. Effectiveness of practicing the corporate governance of companies in Sri Lanka is debatable topic due to the variation between standard and actual practices. This study aims to examine the influence of board diversity on agency costs of companies listed in Sri Lanka as proposed by agency theory. The sample of this research consists of all companies listed in Sri Lanka, exclusive of bank and financial institutions which are practicing unique governance practices issued by Central Bank of Sri Lanka. The final sample consists of 180 companies during the period from 2013 to 2019. This study deployed panel regression analysis to test the relationship formulated in the hypotheses by using the EViews 9 software. The results showed that the board diversity-related variables such as separate leadership structure and presence of non-executive director on companies’ board are appeared to have significant influence on agency costs. Meanwhile, board size does not have direct impact on agency costs. The findings of this study regarding board diversity and agency costs have important managerial implications, that these findings are unlikely to the prediction of agency theory and best practices. Agency theory is not applicable to these companies, since the exiting corporate governance practices increase agency costs. The potential benefits of this study led to re-think the board of directors of the companies, managers, shareholder and the policymakers to re-organise the implementation of best practices.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"133 - 153"},"PeriodicalIF":0.0,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43650055","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2

Impact of Audit Quality on Earnings Management: An Empirical Analysis in the Indian Context 审计质量对盈余管理的影响：印度背景下的实证分析

Indian Journal of Corporate Governance Pub Date : 2021-10-06 DOI: 10.1177/09746862211045764

Khushboo, Karamjeet Singh

{"title":"Impact of Audit Quality on Earnings Management: An Empirical Analysis in the Indian Context","authors":"Khushboo, Karamjeet Singh","doi":"10.1177/09746862211045764","DOIUrl":"https://doi.org/10.1177/09746862211045764","url":null,"abstract":"Anchoring upon the agency theory of corporate governance, auditing function as a monitoring mechanism is supposed to alleviate information asymmetry between the managers and the shareholders of a company by controlling distortion of reported earnings by the former. The aim of this study is to determine the effect of audit quality on earnings management and substitutability of earnings management strategies using a sample of all Bombay Stock Exchange-listed companies for 10 financial years, that is, from 31 March 2010 to 31 March 2019. The previous studies addressing the issue have mostly captured companies in the developed countries or have dealt with only one strategy at a time. This study adds to the literature by undertaking a comprehensive approach to the analysis by studying both accrual earnings management as well as real earnings management in the Indian context, which are estimated through various models. The findings suggest significance of Big 4 auditors in constraining all forms of earnings management. For firms within the sample that have the incentives to distort earnings, long auditor tenure is found to be aiding earnings management through accruals, thus impairing audit quality.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"154 - 179"},"PeriodicalIF":0.0,"publicationDate":"2021-10-06","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49185250","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Editorial 编辑

Indian Journal of Corporate Governance Pub Date : 2021-06-01 DOI: 10.1177/09746862211013660

R. Mishra, K. J.

引用次数: 0

Audit Characteristics, Gender Diversity and Firm Performance: Evidence from a Developing Economy 审计特征、性别多样性与公司绩效:来自发展中经济体的证据

Indian Journal of Corporate Governance Pub Date : 2021-05-26 DOI: 10.1177/09746862211007244

Mohammad Rajon Meah, Kanon Kumar Sen, Md. Hossain Ali

{"title":"Audit Characteristics, Gender Diversity and Firm Performance: Evidence from a Developing Economy","authors":"Mohammad Rajon Meah, Kanon Kumar Sen, Md. Hossain Ali","doi":"10.1177/09746862211007244","DOIUrl":"https://doi.org/10.1177/09746862211007244","url":null,"abstract":"This study aims to explore the impact of audit characteristics and gender diversity on firm performance across family and non-family firms in Bangladesh. Using data of 61 non-family and 48 family firms from 2013 to 2019, this study applies system generalised method of moments approach to carry out regression analysis. Next, the consistency of results is detected by a full sample interaction analysis. In case of non-family firm, this study documents that Big4 audit firms (Big4) and female directors on board (FDR) have significant positive impact on firm performance. Conversely, audit meeting frequency (AMF) contributes negatively to the firm performance. Unfortunately, audit committee size (ACS) and audit committee independence (ACI) have no significant contribution on firm performance. In case of family firms, this study finds that ACS and ACI have significant negative impact on firm performance. Besides, Big4, AMF and FDR have no significant contribution on firm performance. It reflects that corporate governance mechanisms in family firm are not working well and even to some extent detrimental to the firm performance. It, ultimately, demands for reforms in corporate governance framework and incorporating new dimensions for family firms.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"48 - 70"},"PeriodicalIF":0.0,"publicationDate":"2021-05-26","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/09746862211007244","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"46876472","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 7

Translating Innovation into Performance: Understanding Role of the Board 将创新转化为绩效:理解董事会的角色

Indian Journal of Corporate Governance Pub Date : 2021-05-05 DOI: 10.1177/09746862211007032

Shital Jhunjhunwala, S. Sharda, J. Sharma

{"title":"Translating Innovation into Performance: Understanding Role of the Board","authors":"Shital Jhunjhunwala, S. Sharda, J. Sharma","doi":"10.1177/09746862211007032","DOIUrl":"https://doi.org/10.1177/09746862211007032","url":null,"abstract":"Innovation enables firms to face increasing competition in the global environment, but there is variation in innovation investments across firms due to the inherent uncertainty involved in innovative activities. The strategic role of board, therefore, becomes crucial in overseeing innovation decisions. This study, hence, examines whether the relation between R&D investment and firm’s performance would vary based on the board characteristics of the company. It empirically explores this interrelationship in publicly listed Indian companies, by assessing the moderation effect of board using fixed effect regression analysis and conditional effects on a panel data of 9,031 firm years across twelve years. Board size, board meetings, proportion of women director and board leadership are found to negatively moderate the relationship between innovation and financial performance (ROE), however none of them moderates the relation between innovation and firm value (Tobin’s Q). It signifies that though board characteristics play an important role in relationship between innovation and ROE, investors fail to recognise it. Companies should focus on creating the right kind of board, investors must appreciate board’s influence in the success of R&D investments without being driven by mere compliance. Policy makers should deliberate upon the desirability of present structure of stringent laws.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"67 5","pages":"9 - 26"},"PeriodicalIF":0.0,"publicationDate":"2021-05-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/09746862211007032","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41284933","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Picking up Pieces of Good Corporate Governance to Sustain National Railways of Zimbabwe 捡起公司治理的碎片，维持津巴布韦国家铁路

Indian Journal of Corporate Governance Pub Date : 2021-04-28 DOI: 10.1177/09746862211007042

Daniel Chigudu

{"title":"Picking up Pieces of Good Corporate Governance to Sustain National Railways of Zimbabwe","authors":"Daniel Chigudu","doi":"10.1177/09746862211007042","DOIUrl":"https://doi.org/10.1177/09746862211007042","url":null,"abstract":"Zimbabwe’s state-owned enterprises (SOEs) have a significant role to play in providing service delivery for basics like electricity, health, water, transport and communication. With such socio-economic importance, it is imperative that any SOE should be, transparent, accountable, effective, efficient, profitable and sustainable. However, incompetent performance has stalked most of the country’s SOEs and the National Railways of Zimbabwe (NRZ) has not been an exception. It has been caught up with successive failures and forced to rely heavily on grants from government for its sustainability. This study sought to identify the challenges in the NRZ and suggest measures to solve them and sustain the entity. A descriptive research design was employed based on a critical review and analysis of extant literature. The information and data used in this study were obtained mainly from the audit reports, research and media reports on this enterprise. Issues of governance, accountability and transparency are examined. Polices in place for good corporate governance and monitoring meant to provide guidance, and sustainability are critiqued. In light of the challenges and gaps identified in running the NRZ, recommendations to revamp the system operations are given. A field for further research is suggested which could direct future management controls.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"27 - 47"},"PeriodicalIF":0.0,"publicationDate":"2021-04-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/09746862211007042","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42171077","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 4

Leading Sustainable CSR Efforts: A Case of Sneha Opportunity School by NLCIL 引领可持续的企业社会责任努力:以ncil的Sneha机会学校为例

Indian Journal of Corporate Governance Pub Date : 2021-04-24 DOI: 10.1177/09746862211007039

Vikraman R, Shulagna Sarkar, Vishnukumar K, Selvarasu A

引用次数: 0

Banking Governance Parameters Differentiated by size: Impact on Agency Cost 按规模划分的银行治理参数:对代理成本的影响

Indian Journal of Corporate Governance Pub Date : 2021-04-21 DOI: 10.1177/09746862211007041

Riyanka Baral, D. Patnaik

{"title":"Banking Governance Parameters Differentiated by size: Impact on Agency Cost","authors":"Riyanka Baral, D. Patnaik","doi":"10.1177/09746862211007041","DOIUrl":"https://doi.org/10.1177/09746862211007041","url":null,"abstract":"Large banks and small banks can impact agency costs differently. The current study considers a panel data of 30 Indian banks before the merger to reveal the relationship between agency cost and board composition using panel regression models. The agency cost is reflected in three measures: Asset turnover ratio, free cash flow and leverage ratio. Board composition is sub-divided into three groups: board structure, board independence and board diversity. The finding of the study for large banks shows that former CEO, number of employee representatives on board, independent chairperson, CEO duality, bank age and size impacts agency cost. On the other hand, for small banks, results prove that bank age, employee representative on board and CEO duality significantly affects agency cost. Therefore, in the current Indian context of banking merger and governmental directives to increase lending to micro, small and medium enterprises, the focus should be shifted more on increasing managerial productivity and increasing leverage. Hence, the emphasis should not be on increasing governmental representatives on the banking board but to enhance bank governance quality and its monitoring. To this end, the current article can potentially provide valuable insights for sustainable and real economic outcomes.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"86 - 109"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/09746862211007041","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42103255","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 1

Ownership Characteristics,Corporate Social Responsibility, Resource Productivity And Firm Performance: An Empirical Study 所有权特征、企业社会责任、资源生产率与企业绩效的实证研究

Indian Journal of Corporate Governance Pub Date : 2021-04-21 DOI: 10.1177/09746862211007035

J. B. Prince

{"title":"Ownership Characteristics,Corporate Social Responsibility, Resource Productivity And Firm Performance: An Empirical Study","authors":"J. B. Prince","doi":"10.1177/09746862211007035","DOIUrl":"https://doi.org/10.1177/09746862211007035","url":null,"abstract":"Corporate governance continues to be at the forefront as evinced by some of the recent incidents at organisations such as Tata Sons, Yes Bank and ICICI bank. Traditionally, ownership characteristics have been considered as close substitutes representing corporate governance, considering that board processes and activity do not yield themselves to much scrutiny beyond a few media reports and analysis. The research article undertakes a study of ownership, corporate social responsibility(CSR) and resource productivity in the Indian context. Using a sample of 900 firms from the non-financial domain, the study uses multivariate regression to identify the effect on market based measure of firm performance. Results indicate that all the ownership variables have a positive and significant influence on market based metrics of organisations. However, the CSR orientation or intent does not indicate any impact on organisation’s market based metric. The resource productivity, on the hand is strongly positive, indicating that markets recognise, intuitively the impact of competencies and capabilities of people. For practitioners, the implications are the quest to identify further levers of strategic and competitive advantage since the governance indicators have merely explained a small part of firm performance.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"14 1","pages":"71 - 85"},"PeriodicalIF":0.0,"publicationDate":"2021-04-21","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/09746862211007035","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47079863","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}

引用次数: 2