Do board characteristics affect corporate performance? Firm-level evidence for India
- 10 June 2006
- journal article
- research article
- Published by Taylor & Francis Ltd in Applied Economics Letters
- Vol. 13 (7), 435-443
- https://doi.org/10.1080/13504850500398617
Abstract
The study examines the association between financial performance and boards of non-financial firms. Using data on 127 listed manufacturing firms in India for 2003 the findings indicate that, after controlling for various firm-specific factors, larger boards tend to have a dampening influence on firm performance, judged in terms of either accounting or market-based measures of performance. In terms of policy implications, the analysis suggests that compensation of the CEO has a significant effect on the performance of the firm.Keywords
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