October'22
The IUP Journal of Corporate Governance
Focus
The first paper, "Influence of Corporate Governance and Firm Attributes on Intellectual Capital Disclosure: Evidence from India's Top Listed Companies" by Yusaf Harun K, V Kavida and Mohammed Muhsin K P, examines the annual reports of top Indian corporations based on their market value from 2009-2010 to 2018-2019. These companies based on their market capitalization were listed on the BSE stock exchange. The authors have employed content analysis technique to measure the IC disclosure. Some of the notable findings include an insignificant relationship between board size and IC disclosure, but a significant negative relationship with structural capital. In addition, the authors find that size and industry/firm attributes have a significant influence on IC disclosure.
The second paper, "Impact of Corporate Governance on Firm Performance: Evidence from BSE 100 Companies" by Keerti Jain and Neeti Mathur, attempts to establish a causal relationship between corporate governance and firm performance. The study examines the relationship between CG scores of various sectors like FMCG, IT, and Petroleum. The authors considered CG reports and annual reports of the top hundred BSE-listed companies for the period 2010-2017. Through regression analysis, they have concluded that the financial performance parameters of a firm are significantly impacted by the CG scores.
The third paper, "Corporate Social Responsibility in India: A Bibliometric Analysis" by N S Sudesh, Saradhi Kumar Gonela and Ramkrishna Dikkatwar, focuses on the recent trends in CSR. The authors have used academic papers that focus on quality and quantity. They extracted 685 relevant articles from 311 journals indexed in Scopus. For clustering of keywords, they have used network visualization of VOSviewer, and emphasized five clusters (derived from the software tool): (1) Corporate Brand, (2) Corporate Trust and Accountability, (3) Corporate Citizenship, (4) Disclosures, and (5) Firm Performance.
The last paper, "Influence of Corporate Governance on Firm Value: Sequential Mediating Role of CSR and Organizational Identification" by A K Kranthi, Asrar Ahmed and Sharda Singh, focuses on Small and Medium Enterprises (SMEs) in India. The empirical study has stressed the need to focus on Corporate Social Responsibility and Organizational Identification to enhance firm value. The study has used SmartPLS-3 to empirically establish the proposed causal relationship. The study participants comprised 80 professionals, 30 managing directors, 50 managers, and 20 entrepreneurs. The study opted for non-probability sampling and employed Baron and Kenny's (1986) method to establish proposed mediation. It also established the convergent and discriminant validity of the construct chosen.
Consulting Editor
Influence of Corporate Governance and Firm Attributes on Intellectual Capital Disclosure: Evidence from India's Top Listed Companies
This study looks into the impact of corporate governance and firm attributes on Intellectual Capital (IC) disclosure in Indian publicly listed companies. The IC disclosure was measured using content analysis method. The study examined annual reports of top Indian corporations based on their market value from 2009-2010 to 2018-2019. The influence of corporate governance and firm attributes on IC disclosure was investigated using panel data analysis. The findings show that corporate governance and firm attributes impact the amount of IC information revealed in Indian listed companies' annual reports. The study focused solely on information reported in annual reports; other forms of corporate communication were not included.
Impact of Corporate Governance on Firm Performance: Evidence from BSE 100 Companies
Corporate governance concerns the interests of all its stakeholders. It determines the system of rules and practices under which a company operates. Ethical business practices are carried out under good corporate governance, which leads to good financial performance. The Securities and Exchange Board of India (SEBI) believes that companies having good corporate governance score are rewarded by investors and markets with high valuations. The study provides an overview of the concept of corporate governance through a survey of important previous research and seeks to establish a relationship between corporate governance and financial performance of firms. The study has taken a sample of companies from BSE 100 Index and examined the connection between corporate governance and firm performance as determined by profitability over the short term. The direction of causality in the given relationship has been determined using statistical tools such as hypothesis testing, data analysis and regression. Hypothesis testing has been done on four different sectors-FMCG, Investment Banking, IT and Petroleum.
Corporate Social Responsibility in India: A Bibliometric Analysis
The Indian government made Corporate Social Responsibility (CSR) mandatory in 2013 by amending the Companies Act, complicating research studies on the topic. This paper is a bibliometric analysis of recent trends in research on CSR in India. VOSViewer is employed to visualize networks such as keyword co-occurrences and author collaborations. With the help of BibExcel, other aspects of bibliometric analysis are carried out. Based on an analysis of 685 papers/retrieved articles from Scopus, the study finds that a company's financial performance has become central to CSR orientation in recent years. Co-occurring keywords suggest that sustainability issue is becoming important and that CSR fosters a positive brand image of companies.
Influence of Corporate Governance on Firm Value: Sequential Mediating Role of CSR and Organizational Identification
Corporate Governance (CoGv) has gained significance with an increase in the number of enterprises and has evolved with several prescriptions from scholars and broader audiences (shareholders and stakeholders). Another reason for this growing significance can be attributed to the pressing social and environmental concerns that these enterprises share. This study focuses on Small and Medium Enterprises (SMEs) in India. It proposes a conceptual model and attempts to provide insight into the role of corporate governance in enhancing Firm Value (FV). Some studies have established a positive relationship between these two variables. However, this relationship can be further enhanced by variables such as Corporate Social Responsibility (CSR) and Organizational Identification (OI). The proposed conceptual model has been empirically tested to check whether these variables have contributed to enhancing FV. The study uses Partial Least Squares-Structural Equation Modeling (PLS-SEM) along with SmartPLS. It provides empirical evidence on the mediating influence of CSR and OI and the mediating effect between CoGv and FV. Based on the findings, theoretical and managerial implications are also proposed.
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