Corporate governance practices, self-dealings, and firm performance: Evidence from India

被引：42

作者：

Chauhan, Yogesh ^{[1
]}

Lakshmi, K. Rajya ^{[1
]}

Dey, Dipanjan Kumar ^{[1
]}

机构：

[1] IFHE Univ, IBS, Hyderabad, Andhra Prades, India

来源：

JOURNAL OF CONTEMPORARY ACCOUNTING & ECONOMICS | 2016年 / 12卷 / 03期

关键词：

Corporate governance index; Self-dealing; Related-party transactions; Founder ownership; Tunneling;

D O I：

10.1016/j.jcae.2016.10.002

中图分类号：

F8 [财政、金融];

学科分类号：

0202 ;

摘要：

This paper investigates the effects of firm-level corporate governance practices on firm performance for publicly traded Indian firms where founder ownership is concentrated. We develop a comprehensive measure of corporate governance and show that corporate governance is positively associated with firm performance. This relationship becomes stronger when founder ownership is high. We next focus on the specific channel through which governance improves firm performance, namely self-dealing by controlling owners. We find that better governance mitigates self-dealing by controlling owners and thereby improves future firm performance. Overall, our study substantiates the key relationship between the quality of corporate governance and firm performance in the presence of founder ownership. (c) 2016 Elsevier Ltd. All rights reserved.

引用

页码：274 / 289

页数：16

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