Study of Relationship between Capital Intensity and Corporate Governance Practices of Firms Listed in Indian Stock Exchange: A Sectoral Analysis

Paper presented at 8th International Research Conference, organized by Yale-Great Lakes Center for Management Research, Great Lakes Institute of Management, Chennai and Yale University, USA, December 30, 2013

Posted: 19 Nov 2013 Last revised: 30 Dec 2013

See all articles by Pankaj M. Madhani

Pankaj M. Madhani

Former Dean (Academics) & Professor

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Abstract

This paper studies the corporate governance and disclosure practices of firms listed in Indian stock market. The study has taken nine sectors into consideration – Auto, Capital Goods, Consumer Durables, FMCG, Health Care, Oil & Gas, Metal, and Power along with IT. A comparative analysis was used to segregate these sectors into high capital intensity and low capital intensity sectors. Prior research in US found that capital intensity of firms is negatively correlated with governance practices. This study aims to establish a relationship, if any, between capital intensity of firms and their corporate governance practices in Indian context. After thorough empirical research, the paper explains why Indian scenario is different from US.

Keywords: Corporate Governance, Disclosure, Capital Intensity, Intangible Assets

Suggested Citation

Madhani, Pankaj M., Study of Relationship between Capital Intensity and Corporate Governance Practices of Firms Listed in Indian Stock Exchange: A Sectoral Analysis. Paper presented at 8th International Research Conference, organized by Yale-Great Lakes Center for Management Research, Great Lakes Institute of Management, Chennai and Yale University, USA, December 30, 2013 , Available at SSRN: https://ssrn.com/abstract=2356758

Pankaj M. Madhani (Contact Author)

Former Dean (Academics) & Professor ( email )

India

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