Exploring the Nexus Between Ownership Patterns and Corporate Performance in India.

The paper investigates whether there is evidence to support the concept that variations in observed ownership structures across firms result in methodical variations in observed financial performance in the Indian market. The study assesses the impact of ownership structure on corporate performance measured by both the market-based measures (Tobin’s Q, MBVR and MVA) and accounting-based measures (ROA, ROCE and ROE) of 178 NSE CNX listed nonfinancial companies for a period of 8 years from 2011 to 2018. Two different aspects of ownership structure are considered, i.e., concentration and owner identity. The results of the study could help the Indian companies, regulators, policymakers, and practitioners to adopt and sustain good corporate governance practices for value creation and for making them ready to meet the future changes. [ABSTRACT FROM AUTHOR]