Relationship between corporate governance and firm performance: Metadata analysis for M&A participating firms

Sheeba Kapil; Sarika Kumar

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Relationship between corporate governance and firm performance: Metadata analysis for M&A participating firms

Sheeba Kapil , Sarika Kumar

https://doi.org/10.22495/cgsrv5i4p4

Abstract

This paper is an attempt to overview the academic literature on the mergers and acquisitions (M&A) market and further focuses on the relationship between corporate governance (CG) and firm performance in M&A participating firms by systematizing the existing knowledge and further deriving specific implications for the future work scope. M&A market experiences trillions of USD dollar deals on yearly basis. Therefore, M&A becomes the highly studied area by the researchers for analysis of different combinations between CG, firm performance, takeovers, mergers, acquisitions, etc. In this paper, the research has been carried out as a structural assessment of the past fourteen years of research on different CG variables and firm performance. Further, it has been observed that the majority of research has been conducted to identify the impact of specific bid characteristics of CG on firm performance however; there is a dearth of study to analyze the relation between CG and firm performance for the firms actively participating in M&A market as an acquirer or as a target. In lieu of this, the paper has extracted the prospective area of the study and provided a path towards future research. This review will be useful for academicians and researchers working in the area of CG and M&A, and firm performance.

Keywords: Corporate Governance, M&A, Firm Performance, Takeovers, Political Connections

Authors’ individual contribution: Conceptualization — S.K. and S.K.; Methodology — S.K. and S.K.; Investigation — S.K. and S.K.; Resources — S.K. and S.K.; Writing — Original Draft — S.K. and S.K.; Writing — Review & Editing — S.K. and S.K.

Declaration of conflicting interests: The Authors declare that there is no conflict of interest.

JEL Classification: G3, G34, G38

Received: 25.08.2020
Accepted: 05.11.2021
Published online: 10.11.2021

How to cite this paper: Kapil, S., & Kumar, S. (2021). Relationship between corporate governance and firm performance: Metadata analysis for M&A participating firms. Corporate Governance and Sustainability Review, 5(4), 45–55. https://doi.org/10.22495/cgsrv5i4p4

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