Traversing corporate governance: Assessing internal mechanisms and financial performance in evolving landscape
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Rattan Sharma 
, Timcy Sachdeva, Ridhima Sharma , Hosam Alden Riyadh , Mosab I. Tabash , Rohit Bansal
This work is licensed under a Creative Commons Attribution 4.0 International License.
Abstract
This research delves into the evolving landscape of corporate governance (CG) in India, propelled by historical scandals and subsequent reforms. Using panel data, the study focuses on the investigation of the impact of ownership concentration and board characteristics on financial performance. To achieve the objective of the study, a sample of the top 34 non-financial enterprises listed on the National Stock Exchange of India (NSE) has been obtained to test the relationship. The study utilized multiple regression analysis to examine the association between the independent and dependent variables. This research attempts to close the gap in the existing literature about the relationship between company performance and ownership structure in the emerging country of India. The findings showed a positive and significant relationship between board members and the performance of the firm. This study further contributes to the larger conversation on CG in developing countries by putting the research inside the unique business environment of India and offering insights into how internal governance procedures affect financial performance.
Keywords: Corporate Governance, Performance, Ownership Concentration, Board Size, Emerging Markets, India
Authors’ individual contribution: Conceptualization — Rat.S.; Methodology — T.S.; Formal Analysis — Rat.S.; Data Curation — H.A.R.; Writing — Original Draft — T.S., Ridh.S., and M.I.T.; Writing — Review & Editing — Ridh.S. and R.B.; Supervision — H.A.R.; Project Administration — M.I.T.
Declaration of conflicting interests: The Authors declare that there is no conflict of interest.
JEL Classification: G3, G32, L25
Received: 27.06.2024
Revised: 21.10.2024; 20.11.2024; 02.05.2025
Accepted: 26.05.2025
Published online: 29.05.2025
How to cite this paper: Sharma, R., Sachdeva, T., Sharma, R., Riyadh, H. A., Tabash, M. I., & Bansal, R. (2025). Traversing corporate governance: Assessing internal mechanisms and financial performance in evolving landscape [Special issue]. Journal of Governance & Regulation, 14(2), 288–298. https://doi.org/10.22495/jgrv14i2siart7
