Family firms, board structure and firm performance: evidence from top Indian firms

What is it about?

Given the prevalence of family run businesses in India, the present study empirically investigates the impact of family firms on the relationship between firm performance and board characteristics. The effectiveness of board characteristics such as independent directors, chairman independence, role duality, non-executive directors, board busyness, board size, board meetings and board attendance are studied in the Indian context.

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Why is it important?

The study uses a self-defined corporate governance index to measure the governance parameters, specifically the board characteristics. The results documented in this study adds to the debate on the generalizability of the findings in Western governance studies in emerging markets like India with a unique institutional development background.