Women Directors' Compensation and Firm Performance of an Emerging Economy: India

Rakesh Radav (rakeshssyadav@gmail.com)
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Rakesh Radav: University of Latvia, Department of Management

No 17003, EconWorld Working Papers from WERI-World Economic Research Institute

Abstract: This probably maiden study for Indian financial market on executive compensation uses novel approach by using data of women director's compensation of firm listed at Bombay stock exchange (BSE)India. The methodology adopted for this study is multivariate regression method; this method is common for the research on compensation, on the basis of the survey of literature which treats total compensation paid to the director as dependent variable and firm performance as independent variable. This study adds to the literature one more equation that is impact of firm performance (dependent variable) on compensation (independent variable). Further by using the holistic combination which is rare in the literature of executivecompensation, both measures of firm performance mainly accounting measures (EPS, ROCE and RONW) and market measures (P/E, P/BV) gives comprehensive view of firm performance in relation to compensation. The control variables mainly net sales, R and D and total assets are drawn from literature often known as instrumental variable approach in econometrics. The boundary condition for the sample is BSE-500 firms listed at Bombay stock exchange out of this BSE-500 firms sample of 407 firms are used for study.

Keywords: Corporate governance; emerging economy; executive compensation; firm performance; India; Indian firms; women director (search for similar items in EconPapers)
JEL-codes: G34 (search for similar items in EconPapers)
Pages: 12 pages
Date: 2017-03, Revised 2017-03
New Economics Papers: this item is included in nep-bec, nep-cfn, nep-eff and nep-sbm
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Persistent link: https://EconPapers.repec.org/RePEc:ana:wpaper:17003

DOI: 10.22440/EconWorld.WP.2017.003

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