Corporate Governance and Firm Performance in Indian Textile Companies: Evidence from NSE 500

Gulzar, Ishfaq; Haque, S.M. Imamul; Khan, Tasneem

doi:10.1177/0974686220966809

Cited by 23 publications

(23 citation statements)

References 55 publications

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“…They measured Board independence as the percentage of independent outside directors (independent non-executive directors) to total number of directors. [32][33][34][35][36][37][38][39][40][41] supported the position above. This study measured Board Independence as the proportion of non-executive directors and independent non-executive directors to the total Board size.…”

Section: Board Qualitymentioning

confidence: 78%

Firm Attributes and Value of Pension Fund Administrators in Nigeria

Michael¹,

Nwabuisi²,

Trimisiu³

2022

JFA

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Value creation is a key objective of every firm and this is applicable to Pension Fund Administrators (PFAs) who seek to remain competitive and achieve superior corporate performance by taking advantage of certain firm attributes. Studies have shown that value of PFAs can impact the financial health of a significant number of individuals during their retirement years if their Retirement Saving Account (RSA) funds are well managed. This objective is scarcely achieved following the increasing challenge faced by the pension fund industry in the dimensions of dearth of investment, poor investment decision by PFAs, restrictions and investment limits by the regulator and the hunt for yield for its RSA contributors amid an environment of low interest rates. Studies that examined the combined effect of firm attributes of firm age, size, contribution density, number of contributors, board size, board quality and branch network on the value of PFAs are lean. This study investigated the effect of firm attributes on Value of Pension Fund Administrators (net asset value per unit) in Nigeria. The study employed ex-post facto research design. Purposive sampling technique was used to select a sample of fifteen (15) from 22 pension fund administrators which have been in existence for the past ten years (2011)(2012)(2013)(2014)(2015)(2016)(2017)(2018)(2019)(2020). Data for this study were extracted from the published annual reports and accounts of the sampled companies which were validated by certification of external auditors and National Pension Commission (PenCom). Data were analysed using descriptive and inferential (multiple regression) statistics at α = 0.05 level of significance. The study found that firm attributes jointly exerted significant impact on net asset value per unit of pension fund administrators (Adj.R 2 = 0.9298, F(6, 143) = 254.96, p < 0.05). The study concluded that firm attributes enhanced the value of pension fund administrators in Nigeria. It was recommended that pension fund managers should make stakeholders' interest (contributors and shareholders) a priority and use the selected firm attributes to their advantage to drive performance and create value.

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Section: Board Qualitymentioning

confidence: 78%

Firm Attributes and Value of Pension Fund Administrators in Nigeria

Michael¹,

Nwabuisi²,

Trimisiu³

2022

JFA

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“…Inconsistently. Gulzar et al (2020) find empirical evidence that CEO duality does not impact the performance of listed textile companies in India.…”

Section: Corporate Governance Mechanisms Recommended For Countering F...mentioning

confidence: 88%

“…Yang et al (2017) did not find evidence that the percentage of independent directors in the directorate plays a role in deterring financial fraud in China. Gulzar et al (2020) find empirical evidence that board independence does not impact the performance of listed textile companies in India.…”

Section: Corporate Governance Mechanisms Recommended For Countering F...mentioning

confidence: 90%

Elucidating corporate governance’s impact and role in countering fraud

Kassem

2022

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Purpose This paper aims to highlight the role and impact of corporate governance in combating fraud by drawing on insights from the literature, identify gaps in the literature and suggest new directions for future research. Design/methodology/approach The paper is based on a comprehensive general literature review using multiple search engines and databases. Findings This paper finds that effective corporate governance can help reduce fraud risk, prevent fraud and detect fraud, particularly corporate fraud, insider fraud and asset diversion. Some companies use corporate governance mechanisms to bolster their reputation following fraud detection. Ineffective corporate governance increases fraud risk, provides the opportunity for perpetrating fraud and reduces the likelihood of fraud detection. The paper sheds light on several governance mechanisms that could help in mitigating fraud risk, as reported in the literature. The paper categorises these governance mechanisms into four broad governance aspects, including board leadership and the role of ethics; (b) board characteristics, composition and structure; ownership structure; accountability. The paper proposes a guide summarising these broad fundamental governance aspects, including specific anti-fraud controls and examples of how organisations could enhance ethical cultures and the tone at the top. Originality/value To the best of the author’s knowledge, this is the first paper to elucidate the role of corporate governance in countering fraud and develop guidance in this area. The proposed guidance could be helpful to businesses leaders, policymakers, researchers and academics alike.

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“…Information on Board size, Board meetings, and Board independence were obtained from the respective chosen firm's published audited financial statements for a period of ten years. Board size is the entire number of directors on the Board (Adegbie, Akintoye, & Ashaolu, 2019;Muntaha & Haryono, 2021;Nour, Sharabati, & Hammad, 2020); Board meetings are the number of Board meetings per annum (Fahad & Rahman, 2020;Gulzar, Haque, & Khan, 2020;Muntaha & Haryono, 2021;Subramanyam & Dasaraju, 2014) and Board independence is the proportion of independent directors to entire directors (Fahad & Rahman, 2020;Mahmood, Kouser, Ali, Ahmad, & Salman, 2018;Ntim, Soobaroyen, & Broad, 2017;Owolabi & Babarinde, 2020).…”

Section: Methodsmentioning

confidence: 99%

Corporate Governance, Financial Performance, and Social Sustainability Practices of Consumer Goods Companies Listed in Nigeria

Olaoye¹,

Nwaobia²,

Oyekale³

2022

theijbm

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IntroductionSocial sustainability practice is a contemporary issue and is internationally embraced by organizations to exhibit the significance of its existence in the society. Social sustainability practices are not the company's responsibilities, they are carried out to boost the image of corporate entities in the community where such entities run their business activities (Marquis, Glynn, & Davis, 2007;Yekini, Adelopo, Andrikopoulos, & Yekini, 2015). Social sustainability practices are broader than corporate social responsibilities such as donations and comprise obliging substantial time and other organization's possessions such as fund, competence and proficiency to communal projects and expansions, comprising and not restricted to abolition of poverty, sculptures, house project, environment safety, health and safety, well-being and general enhancements in the standards of living or worth of the life of the members of the society (Global Reporting Initiative, 2020).Previous research works reveal that the level of adherence to social sustainability practices and disclosure in developing nations, specifically Nigeria is on low lane; hence, annual financial statement fails to communicate the social sustainability practices of firms (Adegbie, Akintoye, & Taiwo, 2020;Emeka-Nwokeji & Osisioma, 2019;Sobhani, Zainuddin, & Amran, 2011). Most organizations have now redesigned their goal from meeting only the interest of shareholders to attaining the interests of all stakeholders due to development in the list of organizations that are now involving themselves in social sustainability practices and disclosing same in their periodic annual reports or a standalone sustainability report (Ceulemans, Molderez, & Van, 2015). Many countries have adopted Global Reporting Initiative (GRI) sustainability standards to guide their practices and disclosure of social sustainability practices (Adegbie, Akintoye, & Taiwo, 2020; Ceulemans, Molderez, & Van, 2015).

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Corporate Governance and Firm Performance in Indian Textile Companies: Evidence from NSE 500

Cited by 23 publications

References 55 publications

Firm Attributes and Value of Pension Fund Administrators in Nigeria

Firm Attributes and Value of Pension Fund Administrators in Nigeria

Elucidating corporate governance’s impact and role in countering fraud

Corporate Governance, Financial Performance, and Social Sustainability Practices of Consumer Goods Companies Listed in Nigeria

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