Corporate Governance and Economic Performance—A Micro to Macro Perspective

Seema Joshi () and Ruchi Kansil ()
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Seema Joshi: University of Delhi
Ruchi Kansil: An academician and independent researcher

Chapter Chapter 3 in Looking at and Beyond Corporate Governance in India, 2023, pp 53-87 from Springer

Abstract: Abstract The literature reveals that there are different channels through which corporate governance (CG) impacts economic performance. The chapter briefly discusses them to establish linkages between CG and economic performance. At the micro levelCorporate governance (CG)micro level, better governance structures can definitely lead to improvement in the performance of firms by making management more efficient and productive and by bringing about improvement in asset allocation and labor policies. At the macro levelCorporate governance (CG)macro level, prior studies reveal that there is a positive link between improved quality of governance and economic growth (EG)Economic growth (EG). This chapter empirically addresses two overarching questions: Does CG improve firm performance in India at the micro level? Does CG enhance EG in the case of India at the macro level? The results prove that good corporate governance enhances firm performance on the one hand and that economic growth precedes corporate governance. In other words, corporate governance is a consequence of economic growth in the case of India.

Date: 2023
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Persistent link: https://EconPapers.repec.org/RePEc:spr:sprchp:978-981-99-3401-0_3

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DOI: 10.1007/978-981-99-3401-0_3

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