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Performance predictions for sustainability governance of firms: implications to select Indian firms

R. Rajesh (Operations Management and Decision Sciences, Indian Institute of Management Tiruchirappalli, Tiruchirappalli, India)

Benchmarking: An International Journal

ISSN: 1463-5771

Article publication date: 4 July 2023

Issue publication date: 21 May 2024




The author aims to study and predict the sustainability governance performances of firms using an advanced grey prediction model. The case implication of the prediction model is also studied considering select firms in the Indian context.


The author has proposed an advanced grey prediction model, the first-entry grey prediction model (FGM (1, 1)) for forecasting the sustainability governance performances of firms. The proposed model is tested using the periodic data of sustainability governance performances of 10 Indian firms.


The author observes that the majority of firms (6 out of 10) show dipping performances for sustainability governance for the future predicted period. This throws insights into the direction of improving good governance practices for Indian firms.

Practical implications

The idea and motivation for sustainability-focussed governance need a bi-directional focus from the side of managers that act as the agents and from the side of shareholders that act as the principals, as seen from an agency theory perspective for sustainability governance.

Social implications

Sustainability governance culture can be inculcated to a firm at the strategic level by having a bi-directional focus from managers and shareholders, so as to enhance the social and environmental sustainability performances.


The governance performance evaluations for firms particularly in developing countries were not dated back more than a decade or two. Hence, the author implements a prediction model that can be best suited, when there are small periodic data sets available for prediction.



The author sincerely thanks the Editor in Chief, Professor Angappa Gunasekaran, the Associate Editor and the two unknown reviewers for the insightful comments to improving the quality of contents to a greater extent.


Rajesh, R. (2024), "Performance predictions for sustainability governance of firms: implications to select Indian firms", Benchmarking: An International Journal, Vol. 31 No. 5, pp. 1492-1514.



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