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

Document Type

Article

Publication Title

Emerging Markets Review

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.

Publication Date

1-4-2010

Publisher

Elsevier

Volume

Vol.11

Issue

Iss.4

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