India

Working Paper

27 August 2018

Which Aspects of Corporate Governance Do and Do Not Matter in Emerging Markets

Well-constructed, country-specific “corporate governance indices” can predict higher firm values in emerging markets. However, there is little credible research on which aspects of governance drive that overall...

Bernard Black | Antonio Gledson de Carvalho | Vikramaditya Khanna | Woochan Kim | Burcin Yurtoglu
01 March 2014

Methods for Multicountry Studies of Corporate Governance (and Evidence from the BRIKT Countries)

We discuss empirical challenges in multicountry studies of the effects of firm-level corporate governance on firm value, focusing on emerging markets. We assess the severe data, “construct validity,” and endogeneity issues in...

Bernard Black | Antonio Gledson de Carvalho | Vikramaditya Khanna | Woochan Kim | Burcin Yurtoglu
01 May 2011

The Relation between Firm-Level Corporate Governance and Market Value: A Study of India

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...

Bala Balasubramanian | Bernard Black | Vikramaditya Khanna
01 July 2009

Firm-Level Corporate Governance in Emerging Markets: A Case Study of India

We provide an overview of Indian corporate governance practices, based primarily on responses to a 2006 survey of 370 Indian public companies. Compliance with legal norms is reasonably high in most areas, but not complete. We identify...

Bala Balasubramanian | Bernard Black | Vikramaditya Khanna
01 January 2007

Can Corporate Governance Reforms Increase Firms' Market Values: Evidence from India

A central problem in conducting an event study of the valuation effects of corporate governance reforms is that most reforms affect all firms in a country. Share price changes may reflect the reforms, but could also reflect other...

Bernard Black | Vikramaditya Khanna

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