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Jindal, Sonia
- Impact of Corporate Governance on the Cash Holding of the Firms:An Empirical Study of Indian Manufacturing Sector
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Authors
Affiliations
1 Haryana School of Business, Guru Jambheshwar University of Science & Technology, Hisar, Haryana, IN
1 Haryana School of Business, Guru Jambheshwar University of Science & Technology, Hisar, Haryana, IN
Source
International Journal of Financial Management, Vol 7, No 1 (2017), Pagination: 47-52Abstract
The paper empirically examines the impact of corporate governance on the cash holding of the firms. The components of corporate governance are measured by board size, board meeting, audit committee members, director's remuneration and non executive directors and the cash holding is measured with the log of average cash and size is taken as control variable for the control effect on the dependent variables. Moreover, correlation and panel regression model were employed to examine the relationship between the corporate governance and cash holding. Empirical data was collected from 96 firms over the period of 2004-05 to 2013-14. The results show that directors' remuneration and the number of audit committee members positively influence the cash holding and the board size also positively influences the cash holding whereas, the non executive directors and the board meetings do not play any role in enhancing the cash holding.Keywords
Corporate Governance, Cash Holding, India, Manufacturing Sector, Board Size.
References
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- Working Capital Management Impact on Corporate Profitability Relation with Corporate Governance:Evidence from Indian Manufacturing Sector
Abstract Views :396 |
PDF Views:0
Authors
Affiliations
1 Haryana School of Business, Guru Jambheshwar University of Science & Technology, Hisar, Haryana, IN
1 Haryana School of Business, Guru Jambheshwar University of Science & Technology, Hisar, Haryana, IN
Source
Journal of Commerce and Accounting Research, Vol 7, No 3 (2018), Pagination: 8-12Abstract
The present study shows that the impact of corporate governance and working capital management on the corporate profitability of Indian manufacturing companies. A sample of 50 manufacturing companies for a period of 6 year has been examined (from 2010-11 to 2015-16). The corporate governance has been measured by CEO duality, board committee, board size, non executive directors, board meeting, audit committee members and directors remuneration. The working capital management has been measured by inventory, accounts receivable period, accounts payable period and cash holding. The profitability has been measured by the profit after tax. The correlation matrix and regression model has been used in study for analysis purpose. The finding of study shows that the corporate governance and working capital management may be helpful in improvement of corporate profitability. The findings of study may be helpful for managers, investors and stakeholders.Keywords
Corporate Governance, Working Capital, Profitability, Board Size, Director’s Remuneration.References
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