The relation between firm-level corporate governance and market value: A case study of India

N. Balasubramanian, Bernard Black and Vikramaditya Khanna

Emerging Markets Review, 2010, vol. 11, issue 4, 319-340

Abstract: Relatively little is known about the corporate governance practice of firms in emerging markets. We provide a detailed overview of the practices of publicly traded firms in India, and identify areas where governance practices are relatively strong or weak. We also find cross-sectional evidence of a positive relationship between firm market value and an overall governance index, as well as a subindex covering shareholder rights. The association is stronger for more profitable firms and firms with stronger growth opportunities.

Keywords: India; Securities; law; Corporate; governance; Clause; 49 (search for similar items in EconPapers)
Date: 2010
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Citations: View citations in EconPapers (67)

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Persistent link: https://EconPapers.repec.org/RePEc:eee:ememar:v:11:y:2010:i:4:p:319-340

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