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Article
Publication date: 7 August 2017

Palanisamy Saravanan, Maram Srikanth and Suhas M. Avabruth

The objective of this study is to understand the linkages among executive compensation, corporate governance and performance of the Indian family and non-family firms…

Abstract

Purpose

The objective of this study is to understand the linkages among executive compensation, corporate governance and performance of the Indian family and non-family firms. Further, the study also analyzes the level of shareholding pattern of the Indian family firms on their performance and the executive compensation.

Design/methodology/approach

The authors have collected panel data of the companies listed on the National Stock Exchange of India Limited. The data set consists of 284 companies (both family and non-family) for the period 2005–2014. The authors have made use of a dynamic panel data model with generalized method of moments (GMM) estimation to formulate the hypotheses and used fixed-effects regression model to check the robustness of our findings.

Findings

The authors find support for the agency theory, stewardship theory and resource dependence theory in the paper. Specifically, variables related to executive compensation, corporate governance (board size, proportion of independent directors on board, chief executive officers duality and other directorships held by the executive directors outside the company), firm performance (Tobin’s Q), leverage and shareholding pattern of the family are significant in this study.

Practical implications

The study has practical implications for all stakeholders of the family and non-family firms, especially in the emerging market economies. It can be used as a reference guide by various other stakeholders of the family firms, viz., customers, educators, tax authorities, government and society.

Originality/value

The authors confirm that their research is original and provides valuable insights on the Indian family firms. The authors study cross-holding of directorships, inter alia, in the Indian family business groups. As most of the previous studies in the Indian context ignored this important aspect, this study is unique in nature.

Details

Social Responsibility Journal, vol. 13 no. 3
Type: Research Article
ISSN: 1747-1117

Keywords

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Article
Publication date: 5 June 2017

Manas Mayur and Palanisamy Saravanan

The purpose of this paper is to examine the performance implications of board size, composition and frequency of board meetings on the performance of banks.

Abstract

Purpose

The purpose of this paper is to examine the performance implications of board size, composition and frequency of board meetings on the performance of banks.

Design/methodology/approach

The performance of banks is assessed on various parameters such as return on assets (ROA), Tobin’s Q, non-performing asset ratio (NPA ratio) and the net write-off ratio (NWO ratio). The effects of changes in board size and composition and frequency of meetings on the performance of banks are investigated using feasible generalized least square (FGLS) estimation of panel data covering a time span of five years concerning 40 banks incorporated in India. Frequency of board meetings is taken as a proxy for board activity and involvement. The authors have also tested for endogeneity issues in the model.

Findings

A curvilinear relationship was found between the board size and performance of banks. The authors have modelled a cubic form of the relationship for Indian banks. The authors’ findings indicate that an increase in board size is associated with better bank performance within both low and high board size ranges. Alternatively, increased board size is negatively associated with bank performance in the intermediate board size range. The study did not find any significant relationship between performance and frequency of board meetings and board composition.

Research limitations/implications

The behavioural variables reflecting the involvement of the board have not been incorporated in the model to determine the impact of board involvement on the performance of banks owing to the availability of data. It is hoped that this paper will be useful for major regulatory bodies such as the Ministry of Corporate Affairs (MCA), Securities and Exchange Board of India (SEBI), Company Law Board (CLB) and stock exchanges in India and other emerging economies in devising listing norms and other governance-related aspects.

Originality/value

Non-linear relationships between the board size and performance are not normally prevalent in emerging economies, especially in the banking sector. However, such a relationship exists among the Indian banks. This paper is the first of its kind to identify and address the same.

Details

Corporate Governance: The International Journal of Business in Society, vol. 17 no. 3
Type: Research Article
ISSN: 1472-0701

Keywords

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Article
Publication date: 17 June 2020

Srinath Sridhar and Rajeswari Sellamani

The purpose of this paper is to find out the optimal level as well as the influence of end mill cutter geometrical and machining parameters while machining metal matrix…

Abstract

Purpose

The purpose of this paper is to find out the optimal level as well as the influence of end mill cutter geometrical and machining parameters while machining metal matrix composite. End milling is carried out on Al 356/SiC metal matrix composites (MMC) using high-speed steel (HSS) end mill cutter. The optimum level of input parameters such as helix angle, nose radius, rake angle, cutting speed, feed rate and depth of cut are calculated for minimum temperature rise.

Design/methodology/approach

L27 Taguchi orthogonal design, signal-to-noise (S/N) ratio, are applied for conducting experiments, and to find the optimal level of input parameters for minimum temperature rise, respectively. Analysis of variance (ANOVA) is used to analyze the significance of input parameters on temperature rise.

Findings

It is found that the optimal combination of helix angle 400, nose radius 0.8 mm, rake angle 80, cutting speed 30 m/min, feed rate 0.04 mm/rev and depth of cut 0.5 mm have generated minimum temperature rise. From ANOVA analysis, it is found that rake angle influence is more on output performance followed by cutting speed and nose radius compared with other machining and geometrical parameters.

Originality/value

The influence of geometrical parameters such as helix angle, nose radius and rake angle of end mill cutter on temperature rise while machining MMC has not been explored previously.

Details

World Journal of Engineering, vol. 17 no. 4
Type: Research Article
ISSN: 1708-5284

Keywords

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