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The Structure of Corporate Holdings and Corporate Governance: Evidence from India

Research output: Working paper

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The Structure of Corporate Holdings and Corporate Governance: Evidence from India. / Homroy, Swarnodeep; Banerjee, Shantanu.
Lancaster University, Department of Economics, 2015. (Economics Working Paper Series; Vol. 2015, No. 13).

Research output: Working paper

Harvard

Homroy, S & Banerjee, S 2015 'The Structure of Corporate Holdings and Corporate Governance: Evidence from India' Economics Working Paper Series, no. 13, vol. 2015, Lancaster University, Department of Economics.

APA

Homroy, S., & Banerjee, S. (2015). The Structure of Corporate Holdings and Corporate Governance: Evidence from India. (Economics Working Paper Series; Vol. 2015, No. 13). Lancaster University, Department of Economics.

Vancouver

Homroy S, Banerjee S. The Structure of Corporate Holdings and Corporate Governance: Evidence from India. Lancaster University, Department of Economics. 2015. (Economics Working Paper Series; 13).

Author

Homroy, Swarnodeep ; Banerjee, Shantanu. / The Structure of Corporate Holdings and Corporate Governance: Evidence from India. Lancaster University, Department of Economics, 2015. (Economics Working Paper Series; 13).

Bibtex

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title = "The Structure of Corporate Holdings and Corporate Governance: Evidence from India",
abstract = "This paper examines how the structure of corporate holdings impacts upon the corporate governance mechanisms and outcomes. Using a panel data of 500 large listed Indian …firms we compare …firms with dispersed equity ownership, and business group …firms with cross-holdings and concentrated family ownership, within the same institutional frameworks. Contrary to the popular hypothesis that concentrated shareholding leads to worse corporate governance outcomes, we find that the corporate governance outcomes are similar for both types of …firms, even though the incentive alignment mechanisms may be different. The results of this paper suggest that corporate holding structures and governance mechanisms adjusts to optimize value and performance.",
keywords = "business groups, corporate governance, concentrated share ownership, corporate holding structure",
author = "Swarnodeep Homroy and Shantanu Banerjee",
year = "2015",
language = "English",
series = "Economics Working Paper Series",
publisher = "Lancaster University, Department of Economics",
number = "13",
type = "WorkingPaper",
institution = "Lancaster University, Department of Economics",

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RIS

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T1 - The Structure of Corporate Holdings and Corporate Governance: Evidence from India

AU - Homroy, Swarnodeep

AU - Banerjee, Shantanu

PY - 2015

Y1 - 2015

N2 - This paper examines how the structure of corporate holdings impacts upon the corporate governance mechanisms and outcomes. Using a panel data of 500 large listed Indian …firms we compare …firms with dispersed equity ownership, and business group …firms with cross-holdings and concentrated family ownership, within the same institutional frameworks. Contrary to the popular hypothesis that concentrated shareholding leads to worse corporate governance outcomes, we find that the corporate governance outcomes are similar for both types of …firms, even though the incentive alignment mechanisms may be different. The results of this paper suggest that corporate holding structures and governance mechanisms adjusts to optimize value and performance.

AB - This paper examines how the structure of corporate holdings impacts upon the corporate governance mechanisms and outcomes. Using a panel data of 500 large listed Indian …firms we compare …firms with dispersed equity ownership, and business group …firms with cross-holdings and concentrated family ownership, within the same institutional frameworks. Contrary to the popular hypothesis that concentrated shareholding leads to worse corporate governance outcomes, we find that the corporate governance outcomes are similar for both types of …firms, even though the incentive alignment mechanisms may be different. The results of this paper suggest that corporate holding structures and governance mechanisms adjusts to optimize value and performance.

KW - business groups

KW - corporate governance

KW - concentrated share ownership

KW - corporate holding structure

M3 - Working paper

T3 - Economics Working Paper Series

BT - The Structure of Corporate Holdings and Corporate Governance: Evidence from India

PB - Lancaster University, Department of Economics

ER -