Corporate governance involves balancing the interests of the many stakeholders in a corporation—from shareholders and management to customers and the larger society. Corporate governance also offers the framework for attaining a company’s vision and mission, providing guidance and oversight on a broad spectrum—action plans and internal controls to performance measurement and corporate disclosure. Companies’ Act 2013 has been introduced in India with the primary objective of improving corporate governance practices in Indian corporations. In this paper, we investigate the moderating role of corporate governance practices in large Indian corporations on firm performance, post introduction of Companies’ Act 2013. Specifically, we study the influence of board’s involvement in company’s affairs, board’s diversity, CEO duality, board compensation, and promoters’ involvement in the board. We find sufficient evidence that board involvement and board diversity positively influence firm performance, while CEO duality, board compensation, and promoters’ presence do not have an influence on firm performance.

中文翻译：

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公司治理对公司绩效的作用：《 2013年公司法》实施后对大型印度公司的研究

公司治理涉及平衡公司中许多利益相关者的利益-从股东和管理层到客户和整个社会。公司治理还提供了实现公司愿景和使命的框架，在广泛的范围内提供指导和监督，包括绩效评估和公司披露的行动计划和内部控制。印度已引入《 2013年公司法》，其主要目标是改善印度公司的公司治理实践。在本文中，我们在《 2013年公司法》出台后，调查了印度大型公司的公司治理实践对公司绩效的调节作用。具体而言，我们研究了董事会参与公司事务，董事会的多元化，首席执行官双重性，董事会薪酬的影响，以及发起人参与董事会。我们发现足够的证据表明，董事会的参与和董事会的多元化对公司绩效产生积极影响，而首席执行官的双重性，董事会薪酬和发起人的存在对公司绩效没有影响。