“…Firms today are actively following the path of expansion that leads to corporate restructuring which directly and significantly impacts the firm performance (Mishra & Kapil, 2018a; Rani et al, 2014). With the rapid expansion of businesses, multinational firms/corporations (MNCs) are constantly contributing to the economic development of their nations and further expanding their geographical reach through various activities, for example, mergers and acquisitions (M&A) (Kapil & Barick, 2018; Tampakoudis et al, 2020) and joint venture in the developing economies (Chen et al, 2010; Gomes et al, 2011) as well as in the developed nations (Cooke, 2016; Ismail et al, 2015). M&As are the events affected by various determinants of the board, namely board size, different characteristics of the board members (age, job tenure, duality roles joined, education and gender, CEO characteristics (CEO remuneration, CEO education, CEO duality).…”