This study examines the relationship between internal corporate governance mechanisms and corporate financial performance. We examine this relationship considering the endogeneity between corporate ...governance and firm characteristics utilising a sample of large listed Indian firms. We construct and validate a "Corporate Governance Index (CGI)" based on six internal governance mechanisms affecting the governance of Indian firms. The study estimates the model using the simultaneous equation method. The results obtained suggest that corporate governance has a positive association with corporate financial performance. Thus, firms will gain by improving their corporate governance as it leads to better corporate financial performance, which is in the interest of all stakeholders.
This study identifies the main areas and current dynamics of the field of board diversity and suggests future research directions. Using a bibliometric analysis, we examine a sample of 579 studies ...from the ISI Web of Science database to identify research activity on board diversity between 1999 and early 2019. We find the most influential articles and authors based on their citations and publications as well as their location and importance within the network. We also examine current themes, find impediments to growth in the literature, and suggest avenues for future research. Although research activity on board diversity occurs globally, a lack of collaboration exists across country lines, especially between authors of developed and developing countries. Research on board diversity focuses on gender diversity, with relatively less attention on age, nationality, ethnicity, professional background, and cognition. We conclude by suggesting five potential research directions.
•Bibliometric study that unravels the intellectual structure of SDG 5 research through a managerial perspective.•Three main research clusters are identified: a. Board diversity, financial performance ...and firm value. b. Women on boards and CSR. c. Demographic diversity of corporate boards.•An integrated framework of the research on SDG 5 is proposed.•Challenges to existing research and suggestions for future research are discussed.
Despite similarities in the leadership styles of men and women, gender segregation at the highest levels of management is still widespread in many firms. The management literature on the key areas of Sustainable Development Goal 5 (SDG 5) – that is, gender equality and women’s empowerment – has grown rapidly in recent years. With the launch of the SDGs in 2015 and the increasing research on their targets, it has become imperative to organise the extant literature and identify areas for future research. While previous reviews have focused on a particular SDG or the progress of overall SDGs, we make a novel attempt to analyse the research on SDG 5 from a managerial perspective using bibliometric and systematic review techniques on 1,713 research articles from the Scopus and Web of Science Core Collection database. Our review sheds light on the leading authors, institutions, outlets, articles and themes. The publications have mostly been contributed since 2016, and the geographical focus of the research has been limited to USA, UK and Australia. Three main topics were identified: board diversity, financial performance and firm value; women on boards and CSR strategies; and demographic diversity of corporate boards. An integrated framework, impediments to research and future research directions are also discussed.
This study seeks to examine the locational determinants of outward foreign direct investment (OFDI) of Indian pharmaceutical companies (IPCs); best known for their technological leapfrogging and ...widely acclaimed as one of the most successful representations of emerging market multinationals. Research on the specific ownership advantages of Indian multi-national enterprises (MNEs) and their internationalization strategies is catching up and there still exists a knowledge gap concerning the choice of investment destination and motivations behind their acquisitions. This study tries to address this gap by attempting to build a locational choice model which best explains the spatial distribution of Indian pharmaceutical acquisitions. Based on theoretical insights, 13 important variables measuring the host country characteristics such as economic, political, institutional and cultural environment of 33 countries for the period 2000–2012 have been considered. Panel regression has been employed to empirically analyze the host country-specific determinants. Our results highlight the importance of strategic assets of the host countries as the key determinants for the Indian pharmaceutical firms who appear to be targeting the developed countries through the inorganic route to overcome their inadequate product development capabilities. The presence of a conducive economic environment, a common language and openness of the host countries also seem to impact the choice of location. Interestingly, geographical distance, group affiliations and institutional variable corruption had no impact on the locational choice of the host country. The findings of the study may be extended to other studies on the internationalization strategies of firms arising from other emerging economies.
Purpose
Blockchain technology is predicted by many to be the most disruptive technology which might bring accessibility, efficiency and transparency in the financial industry. This study aims to ...understand the challenges likely to be faced by the Indian banking industry while adopting the technology.
Design/methodology/approach
The study adopted a qualitative approach to explore the challenges faced by the banking industry in India. Semi-structured in-depth interviews with senior executives and academicians in the finance and the information technology industries helped gain explorative insights about the challenges.
Findings
Thematic analysis suggested a framework comprising five challenges while adopting blockchain technology. These challenges relate to technology, organisation, operation, regulator and environmental context.
Originality/value
The paper contributes to the limited literature on the nascent blockchain technology adoption in banking industry in an emerging country context.
This study aims to mark the 20th anniversary of Public Management Review (PMR) by providing a retrospective into its journey over the past 20 years using bibliometric analysis. The findings indicate ...that PMR has seen a great rise in both its productivity and reputation. Clustering of articles using bibliographic coupling reveals that the content of the journal is primarily focused on the issues such as interorganizational collaborations and public-private partnerships (PPPs), reforms in public management, management, leadership, governance, challenges, accountability and innovation in public service organizations. The journal has seen an expansion in themes since its inception.
Using agency and stewardship theory, we study the impact of family ownership on the performance of small and medium-sized enterprises (SMEs) in the context of internal and external governance ...mechanisms. Employing a sample of all SME exchange-listed firms from their inception to 2018, we use a three-stage least squares (3SLS) estimation method to account for the endogeneity of the ownership−performance relationship. We find a positive bi-directional relationship between performance and promoter ownership, with no moderating impact of internal governance. However, when external governance mechanisms operate, the performance–ownership relationship shows mixed results, supporting the impact of culture on firm performance. The study contributes to the debate on the ownership−performance relationship by analyzing small firms in the emerging economy of India. Regulators need to be cognizant of the cultural nuances before implementing corporate governance codes for small firms.
One-size-fits- all
regulations will not apply to every firm. Regulators should consult with small business owners to come up with norms that would ensure good corporate governance practices in small listed firms.
Purpose
This paper aims to examine the impact of corporate governance practices on the level of financial disclosures made by the Indian firms. This assumes importance in the context of the role of ...financial disclosures in addressing the agency problem.
Design/methodology/approach
Financial disclosure score is computed by considering disclosures provided by the generally accepted accounting principles and is the dependent variable. The independent variable – corporate governance score – is an index comprising internal governance mechanisms. The authors empirically examine the impact of corporate governance practices on financial disclosure using multiple regression model for 200 large listed Indian firms.
Findings
The study suggests that quality of governance practices significantly improves financial disclosure practices of the firm. Particularly, the composition of the audit committee is effective in improving disclosures.
Practical implications
The finding has implications for policy makers and practitioners. It will help investors, lenders, and other stakeholders to assess firms’ financial disclosure quality. In addition, the findings, suggest the influence of governance practices on disclosure, might help in the formulation of appropriate policies about board structure and audit function. It is also a call to investors to emphasize on governance quality of the investing firms.
Originality/value
The study builds a case for an urgent intervention for improving the existing governance standards to advance the quality of financial disclosure in an emerging market context.
Purpose
This study aims to examine the transitions in hiring criteria by recruiting companies in top ten Quacquarelli Symonds ranked business schools in India during the pandemic.
...Design/methodology/approach
Using an exploratory lens, an in-depth semistructured interview was conducted with 20 recruiting companies across industries and roles.
Findings
Content analysis suggests the changing preferences in hiring criteria and identifies six themes that have assumed importance during the pandemic period.
Research limitations/implications
This study has implications for business school participants who need to change their preparation strategy during the placement season.
Practical implications
There is an opportunity for business schools to focus on these two soft skills, namely, self-management with self-discipline and oral and written communication across the platform. However, in the depth and diversity of soft skills training, there is often a shallow coverage of multiple skills. The rather focused approach to developing these two skills may go a long way in preparing work-delivery graduates who could hit the proverbial ground running as the first step into their careers.
Originality/value
This study contributes to hiring managers by suggesting the traits that may assume importance in the new normal where remote or hybrid working context is a necessity.
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