Description

This book is a research study of effect of corporate governance code on performance of companies. The study documents empirical research from India where corporate governance code has been laid down on a standard-rule basis by the market regulator- SEBI. The study employs panel data regression models to investigate the performance effect of the Corporate Governance Code. This modelling provides more reliable results by controlling firm heterogeneity. A dynamic distributed lag model is also developed for testing the lagged effect of the Code. The book presents overview of theories, models and issues of corporate governance. It describes in detail the corporate governance system as evolved in India from various stages to emerge as a model closely resembling the Anglo-American model but with a marked difference of predominance of business houses with concentrated ownership. The book contains several policy implications which would be useful for the regulators as well practitioners. The researchers and students of corporate governance would also be immensely benefited by the theories, research models and analyses of empirical models laid down in a lucid language in this book