This book begins by analysing the various corporate governance mechanisms explored in the extant literature and determining their effectiveness in enhancing the firm value using multivariate analysis. The findings are of global relevance as the corporate governance regulations of most countries focus on independent directors as the mainstay of good governance. The empirical evidence from the first objective of this study corroborates the claim that independent directors do not strengthen the firms' governance quality. The book is one of the few works to have analysed the possible reasons behind the ineffectiveness of the independent directors. Also, in view of the famous concept of the bundle of governance mechanisms, it might be possible that the independent directors strengthen the firms' governance quality indirectly by strengthening other governance mechanisms. This aspect too has little precedence. This study adopts a novel moderation and mediation approach to analyse the monitoring behaviour of independent directors in relation to other governance mechanisms. The work is a must read for corporate players as well as researchers and scholars studying this discipline.

Begins by analyzing the various corporate governance mechanisms Is one of the few works to have analyzed the possible reasons behind the ineffectiveness Adopts a novel moderation and mediation approach to analyze the monitoring behavior of independent directors

Autorentext

Shveta Singh is PFS Chair Professor and Area Chair of Finance at the Department of Management Studies (DMS), Indian Institute of Technology (IIT) Delhi, India. She is also the coordinator of the National Centre on Corporate Governance. She has contributed to various research and consulting assignments for organizations like the CIO Foundation, CISO Foundation, Lok Sabha, National Foundation for Corporate Governance (NFCG), Directorate General of Supplies and Disposals (DGS&D), National Buildings Construction Corporation (NBCC), Indian Council of Social Science Research (ICSSR), UK-India Education and Research Initiative (UKIERI), ReNew Power, the Ministry of Agriculture and Farmers’ Welfare, the Ministry of Food and Consumer Affairs, the Indian Navy, and the Indian Air Force. She is also a member of the International Organization for Standardization (ISO) and Bureau of Indian Standards (BIS) sectional committees on Sustainable Finance. She is Associate Editor of Journal of Advances in Management Research (JAMR). In addition to publishing more than 180 research papers, she has co-authored a textbook and four research monographs, all published by Springer. She has been honored twice with the "Literati" award for outstanding research and is recipient of the Lok Sabha Fellowship and the Fetzer Fellowship from the Academy of Management, USA as well as the National Stock Exchange – Indira Gandhi Institute of Development Research (NSE-IGIDR) Corporate Governance Research Initiative Grant. She has also been honored by the "Leadership" award in research from the Institute of Business and Finance Research in USA. Samridhi Suman has completed her PhD in finance from the Department of Management Studies, IIT Delhi, India. Presently, she is working as Lecturer at University of Southampton Delhi, Gurgaon, India. Prior to this she was Lecturer at Jindal School of Banking & Finance, O.P. Jindal Global University, Sonipat, India. Her research interests are in the field of corporate governance and corporate finance. She has published her manuscript in high-ranked journals including American Business Review and International Journal of Productivity and Performance Management. She has also presented her research work at several conferences organized by eminent institutes and associations.

Inhalt

Chapter 1: Introduction.- Chapter 2: Evolution of Corporate Governance in India.- Chapter 3: Research Methodology.- Chapter 4: Corporate Governance Mechanisms and Firm Performance.- Chapter 5: Performance Enhancement Effect of Board Independence.- Chapter 6: Constraints Diluting the Effectiveness of Board Independence.- Chapter 7: Concluding Observations.