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首页> 外文期刊>European Journal of Management and Business Economics >Determinants of corporate financial performance relating to board characteristics of corporate governance in Indian manufacturing industry
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Determinants of corporate financial performance relating to board characteristics of corporate governance in Indian manufacturing industry

机译：与印度制造业公司治理的董事会特征有关的公司财务绩效的决定因素

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Purpose The Purpose of this paper is to examine if certain board characteristics have an impact on the financial performance of manufacturing firms in India.Design/methodology/approachThe study draws on data from 275 firms listed in NSE during from 2011 to 2015, using a multiple regression model. The present study examines the effect of board characteristics such as board size, CEO duality, independence and board activity devoted to the effectiveness of firms performance regarding market and accounting based financial performance measures.FindingsThe finding supports an inverse association between the extent of board characteristics and the firms’ performance indicators. The study also finds a statistically significant negative relationship between board size and Tobins Q , ROA and ROE. The evidence also shows that the board independence and meeting frequency moderate the relationship between return on equity and return on assets by enhancing these measures among corporate governance mechanisms.Research limitations/implicationsThe present study does not include all possible board characteristics, i.e., large shareholders dominance on the board and promoter’s and institutional shareholding, to support firm’s performance. Further research might include the ownership structure of the board to improve firm’s performance.Originality/valueThe study focuses on the corporate governance issues such as size, duality, independence and activity of the boards and their influence on firm performance. The subject analyzes the possible impact of board characteristics and firm-related features that have received much attention from academic research, which has largely focused on studying the publications of corporate governance in India and Asian context.
机译：目的本文的目的是研究某些董事会特征是否对印度制造业公司的财务绩效产生影响。设计/方法/方法该研究借鉴了2011年至2015年NSE上市的275家公司的数据，采用了倍数法。回归模型。本研究考察了董事会特征的影响，例如董事会规模，CEO二重性，独立性和董事会活动，这些影响致力于公司在市场和基于会计的财务绩效指标方面的绩效有效性。公司的绩效指标。该研究还发现，董事会规模与Tobins Q，ROA和ROE之间存在统计学上的显着负相关。证据还表明，通过增强公司治理机制中的这些措施，董事会的独立性和会议频率可以缓和股本回报率与资产回报率之间的关系。研究局限/含义本研究报告未涵盖所有可能的董事会特征，即大股东主导地位董事会，发起人和机构股权，以支持公司的业绩。进一步的研究可能包括董事会的所有权结构，以提高公司的绩效。原创性/价值本研究关注公司治理问题，例如规模，双重性，董事会的独立性和活动性及其对公司绩效的影响。该主题分析了受到学术研究广泛关注的董事会特征和与公司相关的特征的可能影响，该研究主要集中于研究印度和亚洲背景下公司治理的出版物。

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