Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Umesh S. Mahtani Abstract: Indian Journal of Corporate Governance, Ahead of Print. In the past few years, several companies in India have filed for bankruptcy, after facing financial distress. Investigations showed that many of these companies, which were from the infrastructure sector, had high values of related party transactions (RPTs) before and during the financial crisis. In this study, RPTs towards sales, loans or payments are analysed for these companies to assess if they have a pattern that can be an indicator of ensuing financial distress. The article develops a model for assessing financial distress with a combination of RPTs and accounting variables. The sample uses financial data from 2010 to 2016 of 18 companies facing financial distress and combines with 15 financially stable companies from the same sector. The study shows that combining RPTs and accounting variables in a model provides higher accuracy in assessing financial distress when compared to a model with accounting variables only. The study recommends that such transactions by financially unstable companies should be monitored closely by lenders and investors, to ensure there is no diversion of funds during the distress period. There are few studies in India or globally on the pattern of RPTs made by financially distressed companies. Citation: Indian Journal of Corporate Governance PubDate: 2022-06-15T11:03:53Z DOI: 10.1177/09746862221095293
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Aanchal Singh, Prakash Singh, Samik Shome Abstract: Indian Journal of Corporate Governance, Ahead of Print. The last two decades have seen a gradual shift in the reporting practices of the corporate sector across the globe. Besides reporting the standard financial statements, there is increased emphasis on qualitative reporting particularly issues related to governance, sustainability and society, popularly referred to as environmental, social and governance (ESG) reporting (Griffin & Sun, 2018). In this regard, sustainability issues are being more aggressively addressed by the firms. This study aims at identifying and empirically examining the antecedents that influence the relationship between ESG disclosures of organisations and its corporate financial performance (CFP). The study uses a sample of BSE-200 companies and employs multiple regression technique to ascertain the ESG–CFP relationship. The results obtained show that ESG and CFP are negatively related, and the control variables have a significant impact on this association. The study provides insights from the perspective of an emerging economy and contributes to both the managerial decision-making and policy formulation. It also paves the way for future research. Citation: Indian Journal of Corporate Governance PubDate: 2022-05-04T11:56:42Z DOI: 10.1177/09746862221089062
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Himani Chahal, Anil K. Sharma Abstract: Indian Journal of Corporate Governance, Ahead of Print. We studied the impact of family ownership and management on Indian family firm performance by using a sample of companies listed on the National Stock Exchange of India (NSE) 500 from 2011–2020. The findings using panel data analysis demonstrate that family ownership positively impacts the accounting (ROA) and market (Tobin’s q) measures of firm performance in our sample. Further, there is empirical evidence that family management is positively associated with firm performance using ROA but negatively related to TQ with the study showing that founder-managed firms outperform descendent or professionally managed family firms in the Indian context. The study is unique in understanding the ways in which family businesses perform, behave and add value to the shareholders by analysing a dataset of listed companies for ten years. Citation: Indian Journal of Corporate Governance PubDate: 2022-04-20T03:41:03Z DOI: 10.1177/09746862221089719
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors: Kiswanto, Doddy Setiawan Abstract: Indian Journal of Corporate Governance, Ahead of Print. The development of information technology supports companies in conveying information to all stakeholders in a timely way. This study examined corporate internet reporting that was influenced by the characteristics of the directors (Size, Indep, Aboard, Fboard, Tenur, Famboard, Gender and Founder) of Indonesian companies. Furthermore, this study used the ordinary least square analysis technique which presented five control variables: firm size, profitability, leverage, liquidity and firm age. The research sample is 513 companies of the 716 companies listed on the Indonesia Stock Exchange. The results show that board of directors’ size, independent board of directors, tenure, family relations and gender have a significant effect on timeliness of corporate internet reporting (TCIR), while age of president director, foreign director and founder do not have a significant effect. Therefore, firm size, profitability and liquidity are able to be control variables on the use of TCIR through the company’s web, while leverage and firm age are not able to do this. Therefore, it is advisable for companies in Indonesia to pay attention to the composition of the characteristics directors in order to improve the quality of company financial information via the internet. This needs to be done because it can give a positive signal to all stakeholders, which will ultimately increase stakeholder trust in the company. Citation: Indian Journal of Corporate Governance PubDate: 2022-04-19T05:01:45Z DOI: 10.1177/09746862221089059
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Kiranmai J. Pages: 132 - 132 Abstract: Indian Journal of Corporate Governance, Volume 14, Issue 2, Page 132-132, December 2021.
Citation: Indian Journal of Corporate Governance PubDate: 2021-11-29T09:04:30Z DOI: 10.1177/09746862211056694 Issue No:Vol. 14, No. 2 (2021)
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:R K Mishra, Geeta P, Kiranmai J Pages: 268 - 274 Abstract: Indian Journal of Corporate Governance, Volume 14, Issue 2, Page 268-274, December 2021.
Citation: Indian Journal of Corporate Governance PubDate: 2021-11-29T09:03:14Z DOI: 10.1177/09746862211045762 Issue No:Vol. 14, No. 2 (2021)
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Ajay Arora Pages: 275 - 278 Abstract: Indian Journal of Corporate Governance, Volume 14, Issue 2, Page 275-278, December 2021.
Citation: Indian Journal of Corporate Governance PubDate: 2021-11-29T09:03:15Z DOI: 10.1177/09746862211045763 Issue No:Vol. 14, No. 2 (2021)
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:M. S. A. Riyad Rooly First page: 133 Abstract: Indian Journal of Corporate Governance, Ahead of Print. 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. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-07T06:18:27Z DOI: 10.1177/09746862211045758
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors: Khushboo, Karamjeet Singh First page: 154 Abstract: Indian Journal of Corporate Governance, Ahead of Print. 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. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-07T06:07:08Z DOI: 10.1177/09746862211045764
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Kishinchand Poornima Wasdani, Abhishek Vijaygopal, Mathew J. Manimala, Aniisu K. Verghese First page: 180 Abstract: Indian Journal of Corporate Governance, Ahead of Print. This research study explored the link between corporate governance practices (CGPs) and organisational performance in India, especially in the context of some major CG reforms that have been undertaken since the turn of the twenty-first century. The authors also attempted to understand in-depth the implications of these reforms for the companies. For assessing the link between CG practices and organisational performance, data were collected from a sample of 100 listed companies in India using an adapted version of the Institute of Company Secretaries of India (ICSI)’s questionnaire. Multilevel Factor Analysis (MFA) for scores along 5 CG sub-categories revealed 17 first-level and 4 second-level factors. Regression of organisational performance, measured using Compound Annual Growth Rate (CAGR), against these factors showed that the first-level factor representing corporate social responsibility and sustainability (CSRS) was a significant predictor of organisational performance. This finding is significant while considering the introduction of mandatory CG provisions for corporate social responsibility (CSR), applicable to companies meeting specified turnover and profitability thresholds according to CG regulations in India. The findings of this study open the debate on CG regulation and on mandatory and desirable norms in the Indian context. Eligible Indian companies must focus on the CG practice of investing in CSR initiatives through purpose-led CSRS interventions and their long-term benefits, rather than on viewing it as a mandatory CG provision that induces short-term expenses. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-12T10:00:10Z DOI: 10.1177/09746862211047396
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Firdaus Khan M. R. First page: 209 Abstract: Indian Journal of Corporate Governance, Ahead of Print. COVID-19 pandemic has brought climate change and socially responsible investing back to the forefront. Sustainable investing, though well-entrenched in developed countries, is slowly gaining traction in emerging markets. Sustainability indices operate as quality indicators and bridge information gap. This study explores the usefulness of three such indices and offers an autoregressive moving average model on Carbonex series for sustainable investments on Bombay Stock Exchange. However, the model fails to align with the long-term goals of socially responsible investing and the investor community needs to engage with regulators, corporations and rating agencies so that these sustainability indices can better serve their information needs and offer a valid measure of sustainable practices. COVID-19 brings with it the opportunity to ideate and envision innovative approaches to support a carbon-free economic agenda and to design eco-friendly infrastructure, planned urban development and transition to clean energy. Take–make–consume–waste attitude is out and the philosophy of preserve–endure–nurture–bequeath will be the new normal. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-12T04:21:14Z DOI: 10.1177/09746862211045757
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Preetha S First page: 226 Abstract: Indian Journal of Corporate Governance, Ahead of Print. The need for strengthening engagement between companies and its shareholders is being increasingly recognised over the past few years. Various authors have discussed about the role of shareholder engagement in enhancing corporate governance standards. The literatures discussing these aspects are focusing on developed countries. This study seeks to make a contribution to the debate by discussing the scope and challenges for shareholder engagement in India. Many reforms were introduced to enhance shareholder participation and engagement in India. The study explains the significance of shareholder engagement and the strategies adopted by shareholders to influence corporate policy. The study gives a brief overview of scheme of division of power between board of directors and the company in general meeting in India. It examines the statutory reforms introduced in India for promoting shareholder engagement in corporate governance processes. It also discusses some incidents in Indian corporate sector to examine the growth of shareholder engagement in India. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-07T06:09:27Z DOI: 10.1177/09746862211045760
Please help us test our new pre-print finding feature by giving the pre-print link a rating. A 5 star rating indicates the linked pre-print has the exact same content as the published article.
Authors:Ambuj Gupta First page: 248 Abstract: Indian Journal of Corporate Governance, Ahead of Print. The trust of depositors in the Indian banking system was shaken in September 2019 when the five-page confession letter written by Joy K Thomas, Managing Director and Chief Executive Officer of Punjab and Maharashtra Co-operative Bank (PMC Bank), one of the ten largest co-operative banks in India revealed gross financial irregularities, collusion and fraud in banking operations of PMC Bank from 2008 onwards. The Reserve Bank of India (RBI) came into swift action and placed curbs on routine banking activities and restricted the withdrawal of money to a limited amount. Succumbing to the shock, depositors protested at several places and even, eleven depositors lost their lives. With a huge exposure of 73% of the overall loan portfolio to a single borrower, Housing and Development Infrastructure Ltd (HDIL) & group companies, that too facing insolvency proceedings, the recovery of full money was almost impossible. The malice at PMC Bank is the classic case of crony capitalism, collusion and fraud, and failure of corporate governance. The case draws important lessons for reforming co-operative banking sector and strengthening banking supervision in the country. Citation: Indian Journal of Corporate Governance PubDate: 2021-10-11T04:45:01Z DOI: 10.1177/09746862211047315
Subscription journal
[1174 journals]
