Corporate governance and Competition: A Case Study of India

Manoj Pant and Manoranjan Pattanayak ()
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Manoranjan Pattanayak: CRISIL

Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi Discussion Papers from Centre for International Trade and Development, Jawaharlal Nehru University, New Delhi, India

Abstract: The aim of this paper is to show the interaction effect of product market competition and corporate governance variables on firm performance. While the linkage between internal governance mechanism and firm performance is well established in several studies, the interaction between internal and external governance mechanism has received very little attention in emerging market economies. Here we have shown the independent and interaction effect of ownership and competition variable on firm level productivity. Contrary to conventional wisdom, we document that competition has in reality become a discernible force in developing economies. The econometric modeling result confirms while the standalone effect of ownership variable on productivity is mostly insignificant, there is a strong positive interaction effect with competition variables.

Pages: 29 pages
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