The IUP Journal of Corporate Governance
Impact of Corporate Governance on Firm Performance: Evidence from BSE 100 Companies
Article Details
| Pub. Date | : Oct , 2022 |
|---|---|
| Product Name | : The IUP Journal of Corporate Governance |
| Product Type | : Article |
| Product Code | : IJCG021022 |
| Author Name | Keerti Jain and Neeti Mathur |
| Availability | : YES |
| Subject/Domain | : Management |
| Download Format | : PDF Format |
| No. of Pages | : 12 |
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Abstract
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.
Introduction
The fundamental objective of corporate governance is to enhance the long-term shareholder
value, while at the same time protecting the interests of other stakeholders by improving
corporate performance and accountability.
Corporate Governance (CG) lays down the framework for creating long-term trust between
companies and stakeholders. Good governance is integral to the very existence of a company.
It inspires and strengthens investors' confidence by ensuring the company's commitment to
higher growth and profits. The important principles of CG in India are guided by Clause 49 of
the Listing Agreement to the Indian stock exchange in the guidelines issued by the Securities
and Exchange Board of India (SEBI). The guidelines were finalized after deliberations by
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