Oct'20


The IUP Journal of Corporate Governance

ISSN: 0972-6853

A 'peer reviewed' journal indexed on Cabell's Directory, and also distributed by EBSCO and Proquest Database

The IUP Journal of Corporate Governance is a quarterly journal focusing on governance and ethics framework, role of boards, role of CEOs, CFOs and other senior management, role of other stakeholders, disclosure and transparency, regulation and best governance practices.

Privileged access to Online edition for Subscribers.

Focus Areas
  • Governance & Ethics Framework
  • Role of Boards
  • Role of CEOs, CFOs and other Senior Management
  • Role of other Stakeholders
  • Disclosure & Transparency
  • Regulation
  • Best Practices
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Article   Price (₹) Buy
Determinants of Board Characteristics: Evidence from India
50
Board Size and Earnings Quality in Government- Linked and Non-Linked Quoted Firms in Nigeria
50
The Implications of CSR Spending on Firm's Performance: A Study of Section 135 of the Indian Companies Act, 2013
50
       
Contents : (Oct 2020)

Determinants of Board Characteristics: Evidence from India
Hitesh Shukla and Nailesh Limbasiya

The present study examines the influence of firm performance, such as net financial performance, market performance and operational performance measures, on the board characteristics of Indian firms. The study draws on data from 61 firms listed on the BSE 100 index from 2010 to 2019. For estimation, the study uses a range of alternative measures of board characteristics such as board size, board composition and frequency of board meetings. It utilizes a wide spectrum of firm performance indicators such as net profit margin, adjusted Tobin's Q, return on capital employed, sales and asset turnover ratio. The fixed effect panel regression model is used to estimate the statistical impact of firm performance on board characteristics. In line with prior research, the present study reports incidence of significant influence of market performance on board size and its composition. The results confirm the importance of sales and operational performance in determining board size, board composition and frequency of board meetings. The study also establishes a base that managers and policymakers can use to choose optimum board characteristics. These findings are limited as the study primarily focused on large-cap firms. Further investigation can be undertaken to explore the impact of firm performance on board size for small and medium size firms.


© 2020 IUP. All Rights Reserved.

Article Price : Rs.50

Board Size and Earnings Quality in Government- Linked and Non-Linked Quoted Firms in Nigeria
Ademola Adeniran Adewumi, Amos Olatunbosun Talabi and Godwin Gabriel Omula

The aim of the study is to examine the effect of board size on earnings quality in government-linked and non-linked firms quoted on the Nigerian Stock Exchange. Discretionary Accruals (DACC), Earnings Predictability (EPRED) and Earnings Persistence (EPSIS) are used as measures for earnings quality. The study employed a sample size of 30 companies consisting of 15 firms linked to government, i.e., where state ownership exists and is listed on the NSE and then firms without government linkage. Longitudinal research design was employed for the study with data covering the period 2009-2018. Secondary data was employed for the analysis and panel regression technique was employed for model estimation. The findings of the study reveal that the effect of board size on earnings quality shows differences amongst linked and non-linked firms. For government non-linked firms, board size effect is only significant in DACC, but neutral in relation to EPRED and EPSIS, while for government-linked firms, lower board size is found to enhance EPRED, but neutral in the case of DACC and EPSIS. Based on the findings, the study recommends that for both government-linked and non-linked firms, there is a need to ensure optimal board size. Though there is currently no consensus on what an adequate board size should be, the study recommends that companies must ensure that the board represents all the stakeholders' interest as this can help to improve effectiveness.


© 2020 IUP. All Rights Reserved.

Article Price : Rs.50

The Implications of CSR Spending on Firm's Performance: A Study of Section 135 of the Indian Companies Act, 2013
Perumalraja R, Natarajan P, Azhaguraja N and Thiyagarajan S

Today's corporate world has realized the importance of spending a share of profit towards societal well-being and environmental protection. In line with that realization, the Indian Companies Act 2013 under Section 135 made that spending mandatory. This paper empirically tested the compliance level of Indian corporates in terms of allocation of firms' earnings and the extent of utilization of the same towards Corporate Social Responsibility (CSR) activities. Companies have started accounting for the unspent amount every year. Besides, analysis and results of this paper reveal that there is a positive relationship between CSR spending and firm's profit. It was witnessed empirically by analyzing four years' data of Nifty 50 and BSE 30 companies. Panel regression and Gaussian Mixture models were used and tested. It is found that both the NSE and BSE listed companies' previous year CSR spending had a positive impact on the current year's profits.


© 2020 IUP. All Rights Reserved.

Article Price : Rs.50

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