Ownership concentration and corporate social performance - moderation impact of corporate governance in Indian firms

Ranjan DasGupta

International Journal of Corporate Governance, 2024, vol. 14, issue 1, 24-46

Abstract: The primary objective of this study is to examine the impact of ownership concentration on Indian firms' corporate social performance (CSP). Furthermore, it evaluates the moderation impact of firms' overall internal governance quality and each corporate governance mechanism separately to attenuate or strengthen shareholding's direct and differential impact on CSP. The study's findings show that the negative impact of board size is overwhelming in attenuating the impact of ownership concentration on firms' CSP, however, board meetings always act positively in motivating firms to explore more CSP. On the contrary, women directors always undertake excessive monitoring, thereby, discouraging firms to undertake more CSP. The policymakers and regulators should enforce more stringent regulations to monitor the firm's intentions and implementation practices in CSP regards, especially in an emerging market context like India.

Keywords: ownership concentration; OC; corporate social performance; CSP; principal-principal conflicts; corporate governance mechanisms; Indian firms. (search for similar items in EconPapers)
Date: 2024
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