Effect of Corporate Governance Mechanisms on Value Relevance of EPS and BV: Evidence From the Indian Tourism Industry

This paper examines corporate governance's effect on the valuation of Earnings per Share (EPS) and Book Value (BV).Differently from empirical previous studies in the area of corporate governance and value relevance of EPS and BV, this study investigates this impact within a unique setting of publicly listed tourism firms Using panel data from a selection of some Bombay Stock Exchange (BSE) listed companies from 2013 to 2015. The paper explored three aspects of the mechanisms of corporate governance: the board of directors (size, composition and diligence), the audit committee (size, composition and diligence) and foreign ownership .The study uses descriptive statistics, correlation and multi-regression model to analyse the influence of corporate governance on the value relevance of EPS and BV for the Indian tourism industry. The results show that the interaction between corporate governance mechanisms and value relevance of BV has more impact on the share prices than EPS. It is recommended that the Indian tourism industry should pay more focus to corporate governance mechanisms in order to improve its value relevance of EPS, BV and share prices

Board Characteristics and Banks Profitability: Empirical Evidence From India

The present paper seeks to examine the association between board characteristics and banks profitability. The study is based on convenience sampling of 10 Indian banks for the period from 2010 to 2019. Banks profitability is measured by return on assets, return on capital employed, profit after tax and return on net worth, while board of directors' characteristics is measured by board of directors' size, board of directors' composition, board of directors' diligence, board executive directors and board promoters. The study is used leverage, size, and liquidity as controlling variables. Fixed and random effects models are used for analyzing the data. The findings revealed that Total board size positively and significantly impacts return on assets, Return on capital employed, Profit after detecting tax and Return on net worth, while percentage of promoter negatively and insignificant impacts return on assets, Return on capital employed, profit after detecting tax and Return on net worth. The present study contributes to the existing literature by examining the impact of board characteristics which includes board promoters and executive directors on Indian banks profitability