{"title":"公司治理动态是否推动了国有和非国有企业的绩效？印度视角","authors":"Khushboo Tanwer, Mahesh Chand Garg","doi":"10.1007/s13520-023-00185-2","DOIUrl":null,"url":null,"abstract":"<div><p>The current study examines how corporate governance (<i>CG</i>) affects the business performance of state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). The data of 36 listed SOEs and 104 non-SOEs registered on the Indian BSE Dollex 200 has been endorsed for 10 years (2011–2012 to 2020–2021). Both random effects model and fixed effects models are used for analysis. Using regression analysis as a tool to check the impact of the board variables (board attendance, board meetings, board size, board independence and women directors) as CG indicators on firm performance (<i>ROA</i>, <i>ROE</i> and Tobin’s <i>Q</i>), this study reports that <i>CG</i> variables do not have any significant impact on the firm performance of SOEs other than appointment of the independent directors and board attendance. However, <i>CG</i> practices are significantly associated with the corporate performance of non-SOEs other than board meetings. This study provides insight into how <i>CG</i> practices affect SOEs and non-SOEs differently and highlights the importance of ownership pattern in the connection between <i>CG</i> standards and Indian corporate value.</p></div>","PeriodicalId":54051,"journal":{"name":"Asian Journal of Business Ethics","volume":"13 1","pages":"1 - 30"},"PeriodicalIF":1.9000,"publicationDate":"2023-11-02","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":"0","resultStr":"{\"title\":\"Do corporate governance dynamics drive performance of state-owned and non-state-owned enterprises? An Indian perspective\",\"authors\":\"Khushboo Tanwer, Mahesh Chand Garg\",\"doi\":\"10.1007/s13520-023-00185-2\",\"DOIUrl\":null,\"url\":null,\"abstract\":\"<div><p>The current study examines how corporate governance (<i>CG</i>) affects the business performance of state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). The data of 36 listed SOEs and 104 non-SOEs registered on the Indian BSE Dollex 200 has been endorsed for 10 years (2011–2012 to 2020–2021). Both random effects model and fixed effects models are used for analysis. Using regression analysis as a tool to check the impact of the board variables (board attendance, board meetings, board size, board independence and women directors) as CG indicators on firm performance (<i>ROA</i>, <i>ROE</i> and Tobin’s <i>Q</i>), this study reports that <i>CG</i> variables do not have any significant impact on the firm performance of SOEs other than appointment of the independent directors and board attendance. However, <i>CG</i> practices are significantly associated with the corporate performance of non-SOEs other than board meetings. This study provides insight into how <i>CG</i> practices affect SOEs and non-SOEs differently and highlights the importance of ownership pattern in the connection between <i>CG</i> standards and Indian corporate value.</p></div>\",\"PeriodicalId\":54051,\"journal\":{\"name\":\"Asian Journal of Business Ethics\",\"volume\":\"13 1\",\"pages\":\"1 - 30\"},\"PeriodicalIF\":1.9000,\"publicationDate\":\"2023-11-02\",\"publicationTypes\":\"Journal Article\",\"fieldsOfStudy\":null,\"isOpenAccess\":false,\"openAccessPdf\":\"\",\"citationCount\":\"0\",\"resultStr\":null,\"platform\":\"Semanticscholar\",\"paperid\":null,\"PeriodicalName\":\"Asian Journal of Business Ethics\",\"FirstCategoryId\":\"1085\",\"ListUrlMain\":\"https://link.springer.com/article/10.1007/s13520-023-00185-2\",\"RegionNum\":0,\"RegionCategory\":null,\"ArticlePicture\":[],\"TitleCN\":null,\"AbstractTextCN\":null,\"PMCID\":null,\"EPubDate\":\"\",\"PubModel\":\"\",\"JCR\":\"Q2\",\"JCRName\":\"ETHICS\",\"Score\":null,\"Total\":0}","platform":"Semanticscholar","paperid":null,"PeriodicalName":"Asian Journal of Business Ethics","FirstCategoryId":"1085","ListUrlMain":"https://link.springer.com/article/10.1007/s13520-023-00185-2","RegionNum":0,"RegionCategory":null,"ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":null,"EPubDate":"","PubModel":"","JCR":"Q2","JCRName":"ETHICS","Score":null,"Total":0}
Do corporate governance dynamics drive performance of state-owned and non-state-owned enterprises? An Indian perspective
The current study examines how corporate governance (CG) affects the business performance of state-owned enterprises (SOEs) and non-state-owned enterprises (non-SOEs). The data of 36 listed SOEs and 104 non-SOEs registered on the Indian BSE Dollex 200 has been endorsed for 10 years (2011–2012 to 2020–2021). Both random effects model and fixed effects models are used for analysis. Using regression analysis as a tool to check the impact of the board variables (board attendance, board meetings, board size, board independence and women directors) as CG indicators on firm performance (ROA, ROE and Tobin’s Q), this study reports that CG variables do not have any significant impact on the firm performance of SOEs other than appointment of the independent directors and board attendance. However, CG practices are significantly associated with the corporate performance of non-SOEs other than board meetings. This study provides insight into how CG practices affect SOEs and non-SOEs differently and highlights the importance of ownership pattern in the connection between CG standards and Indian corporate value.
期刊介绍：
The Asian Journal of Business Ethics (AJBE) publishes original articles from a wide variety of methodological and disciplinary perspectives concerning ethical issues related to business in Asia, including East, Southeast and South-central Asia. Like its well-known sister publication Journal of Business Ethics, AJBE examines the moral dimensions of production, consumption, labour relations, and organizational behavior, while taking into account the unique societal and ethical perspectives of the Asian region. The term ''business'' is understood in a wide sense to include all systems involved in the exchange of goods and services, while ''ethics'' is understood as applying to all human action aimed at securing a good life. We believe that issues concerning corporate responsibility are within the scope of ethics broadly construed. Systems of production, consumption, marketing, advertising, social and economic accounting, labour relations, public relations and organizational behaviour will be analyzed from a moral or ethical point of view. The style and level of dialogue involve all who are interested in business ethics - the business community, universities, government agencies, non-government organizations and consumer groups.The AJBE viewpoint is especially relevant today, as global business initiatives bring eastern and western companies together in new and ever more complex patterns of cooperation and competition.
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