Advanced International Journal of Multidisciplinary Research

E-ISSN: 2584-0487 •   Impact Factor: 9.11

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Impact of Companies Act, 2013 on Corporate Governance and Financial Performance of Indian Companies: An Empirical Study

Author(s) Mr. Gaurav Jaiswal
Country India
Abstract The Companies Act, 2013 strengthened statutory governance mechanisms and created an important setting for examining whether governance quality is associated with corporate performance. The Companies Act, 2013 strengthened the governance architecture of Indian companies through provisions relating to boards, independent directors, audit committees, related-party transactions, disclosures and accountability. The economic effect of these provisions depends on whether they operate as substantive monitoring mechanisms rather than checklist compliance. Board independence can reduce agency problems when directors possess relevant expertise and are willing to challenge management. Audit committees can strengthen oversight of financial reporting and internal control. Disclosure requirements can reduce information asymmetry and help investors evaluate management decisions. These mechanisms provide measurable governance variables for an empirical model. Financial performance can be measured through return on assets, return on equity, operating margin or market-based indicators. However, governance and performance may influence each other: better-performing companies may have more resources to invest in governance. The study should therefore consider lagged governance measures, panel methods and robustness checks. A governance index can combine observable board, committee and disclosure indicators. Secondary data from annual reports and regulatory filings can provide a large sample. The study can compare sectors and ownership structures and examine whether institutional ownership strengthens the governance-performance relationship. The proposed research uses an empirical framework to examine measurable relationships while recognising differences in firm size, sector, professional
Keywords : companies act 2013; corporate governance; financial performance; board independence; india; corporate law
Discipline Business Administration
Published In Volume 4, Issue 2, March-April 2026
Published On 2026-04-10
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