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Board independence and firm performance in India

Author

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  • Pranati Mohapatra

Abstract

Corporate governance guidelines all over the globe are focusing on adding independent directors to the board to improve board effectiveness. Does the addition of more number of independent directors improve firm performance? The extant literature does not give a unanimous answer. In the given background, the present work explores the impact of board independence on firm performance for the emerging Indian market. The study examines Nifty firms over a period of six years from 2005-2010 using panel regression. The results show board independence to have positive impact on Tobin's Q, the proxy for firm value. The study found no direct impact of board independence on operating performance.

Suggested Citation

  • Pranati Mohapatra, 2016. "Board independence and firm performance in India," International Journal of Management Practice, Inderscience Enterprises Ltd, vol. 9(3), pages 317-332.
    • Handle: RePEc:ids:ijmpra:v:9:y:2016:i:3:p:317-332
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    Cited by:

    1. Majid Jamal Khan & Faiza Saleem & Shahab Ud Din & Muhammad Yar Khan, 2024. "Nexus between boardroom independence and firm financial performance: evidence from South Asian emerging market," Palgrave Communications, Palgrave Macmillan, vol. 11(1), pages 1-10, December.
    2. Faozi A. Almaqtari & Hamood Mohd. Al-Hattami & Khalid M. E. Al-Nuzaili & Mohammed A. Al-Bukhrani, 2020. "Corporate governance in India: A systematic review and synthesis for future research," Cogent Business & Management, Taylor & Francis Journals, vol. 7(1), pages 1803579-180, January.

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