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The IUP Journal of Corporate Governance

Influence of Corporate Governance on Firm Value: Sequential Mediating Role of CSR and Organizational Identification

Article Details

Pub. Date	: Oct, 2022
Product Name	: The IUP Journal of Corporate Governance
Product Type	: Article
Product Code	: IJCG041022
Author Name	A K Kranthi, Asrar Ahmed and Sharda Singh
Availability	: YES
Subject/Domain	: Management
Download Format	: PDF Format
No. of Pages	: 15

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Abstract

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.

Introduction

Corporate Governance (CoGv) has triggered interest in several academic scholars and industry practitioners across the globe. Extant literature has generated several perspectives situating CoGv in different contexts and settings. It is viewed as a consequence on one side (Ibrahimov and Omarova, 2020; Wasdani et al., 2021; and Tiep Le and Nguyen, 2022) and as a antecedent or determinant on the other. Several scholars have reiterated their stand, advocating that CoGv has a far-reaching impact on society. This is further supported by Wasdani et al. (2021). There is a dearth of literature identifying CG's role in enhancing organizations' business values. Literature has drawn attention to several rising scandals in large and well-established

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