Pub Date : 2020-12-01DOI: 10.1177/0974686220966808
T. Arora
Credit rating is the judgement of a credit rating firm of the creditworthiness of an entity as well as its ability to repay outstanding debt. Prior literature on credit ratings has majorly identified firm-specific characteristics as well as the characteristics of the debt issued as the primary factors affecting credit ratings. However, effective governance mechanisms can affect the credit ratings of a firm by way of their influence on a firm’s default risk. The present article is an attempt to discern the relationship between corporate governance and credit ratings by studying the Bombay Stock Exchange listed Indian firms that received a credit rating from CRISIL for their long-term debt during any of the 5 years from 2013–2014 to 2017–2018. It would add to the existing literature by assessing the association between corporate governance mechanisms and credit ratings in the Indian context since all other studies relate majorly to the Western parts of the world.
{"title":"Impact of Corporate Governance on Credit Ratings: An Empirical Study in the Indian Context","authors":"T. Arora","doi":"10.1177/0974686220966808","DOIUrl":"https://doi.org/10.1177/0974686220966808","url":null,"abstract":"Credit rating is the judgement of a credit rating firm of the creditworthiness of an entity as well as its ability to repay outstanding debt. Prior literature on credit ratings has majorly identified firm-specific characteristics as well as the characteristics of the debt issued as the primary factors affecting credit ratings. However, effective governance mechanisms can affect the credit ratings of a firm by way of their influence on a firm’s default risk. The present article is an attempt to discern the relationship between corporate governance and credit ratings by studying the Bombay Stock Exchange listed Indian firms that received a credit rating from CRISIL for their long-term debt during any of the 5 years from 2013–2014 to 2017–2018. It would add to the existing literature by assessing the association between corporate governance mechanisms and credit ratings in the Indian context since all other studies relate majorly to the Western parts of the world.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"140 - 164"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220966808","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42788178","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-01DOI: 10.1177/0974686220966810
A. Islam
The study investigates the relationship between corporate governance performance, related party transactions and shareholder activism among listed firms in India. The study provides valuable insights into the impact of shareholder activism on corporate governance performance (CGP) and the occurrence of related party transactions (RPTs). Results infer a significant difference in overall CGP between the firms subjected to shareholder activism and firms not subjected to shareholder activism. The study proposes significant evidence on the close monitoring of the governance practices of the firm by activists’ investor and they respond immediately to any evidence of poor governance practice of the firm. A significant difference was found in the amount of sales to RP prior to the incidence of SA than the post incidence of SA for the firms subjected to SA. However, no such difference was found with respect to other major components of RP.
{"title":"Do Shareholder Activism Effect Corporate Governance and Related Party Transactions: Evidences from India?","authors":"A. Islam","doi":"10.1177/0974686220966810","DOIUrl":"https://doi.org/10.1177/0974686220966810","url":null,"abstract":"The study investigates the relationship between corporate governance performance, related party transactions and shareholder activism among listed firms in India. The study provides valuable insights into the impact of shareholder activism on corporate governance performance (CGP) and the occurrence of related party transactions (RPTs). Results infer a significant difference in overall CGP between the firms subjected to shareholder activism and firms not subjected to shareholder activism. The study proposes significant evidence on the close monitoring of the governance practices of the firm by activists’ investor and they respond immediately to any evidence of poor governance practice of the firm. A significant difference was found in the amount of sales to RP prior to the incidence of SA than the post incidence of SA for the firms subjected to SA. However, no such difference was found with respect to other major components of RP.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"165 - 189"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220966810","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45733376","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-01DOI: 10.1177/0974686220966812
S. Yadav
This study fills the gap in the literature by considering the heterogeneous impact of institutional ownership on various dimensions of corporate social performance (CSP). Using the behavioural risk agency perspective, we argue that the risk behaviour of various institutional owners is not the same towards the CSP. We have taken a balanced panel sample of 61 Indian multinational firms for the span of 2013–2018 to test the proposed hypotheses. Results show a negative association of pressure-sensitive institutional investors’ ownership with social and governance dimensions of CSP. Mutual funds ownership is positively associated with the social and governance dimensions of CSP. Foreign institutional investors ownership has no significant impact on CSP. We found that the environmental dimension of CSP is ignored by institutional owners. The moderating effect of firm internationalisation on the relationship between institutional ownership and CSP is also examined.
{"title":"Institutional Ownership and Corporate Social Performance in Emerging Economies Multinationals: Evidence from India","authors":"S. Yadav","doi":"10.1177/0974686220966812","DOIUrl":"https://doi.org/10.1177/0974686220966812","url":null,"abstract":"This study fills the gap in the literature by considering the heterogeneous impact of institutional ownership on various dimensions of corporate social performance (CSP). Using the behavioural risk agency perspective, we argue that the risk behaviour of various institutional owners is not the same towards the CSP. We have taken a balanced panel sample of 61 Indian multinational firms for the span of 2013–2018 to test the proposed hypotheses. Results show a negative association of pressure-sensitive institutional investors’ ownership with social and governance dimensions of CSP. Mutual funds ownership is positively associated with the social and governance dimensions of CSP. Foreign institutional investors ownership has no significant impact on CSP. We found that the environmental dimension of CSP is ignored by institutional owners. The moderating effect of firm internationalisation on the relationship between institutional ownership and CSP is also examined.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"227 - 252"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220966812","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"47654990","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-01DOI: 10.1177/0974686220966813
Ashok Kumar, N. Nigam, Kirtivardhan Singh
This article investigates the impact of women directors on financial outcomes—return and risk of Indian companies. It applies fixed and random effects Tobit regressions to examine the effect of female directors on financial outcomes (returns and risk) of the firm, controlling promoters’ shareholding, leverage, firm growth and age, board size and board meetings. The study does not find any support to agency and resource dependence theories because the proportion of women directors in most Indian boards is too small to make much impact. However, it has a moderating influence to reduce variations in accounting profits and stock returns. The investors reward also meeting the regulatory quota of woman member on the boards by higher market returns indicating a signalling effect. The study adds an understanding of quota induced women directors’ influence on the firm’s financial outcomes. However, the regulators should be cautious in mandating induction of women members on the boards as they might be inexperienced or lack the needed grounding to effectively influence board processes.
{"title":"Do Women Directors Impact Financial Outcomes? The Indian Evidence","authors":"Ashok Kumar, N. Nigam, Kirtivardhan Singh","doi":"10.1177/0974686220966813","DOIUrl":"https://doi.org/10.1177/0974686220966813","url":null,"abstract":"This article investigates the impact of women directors on financial outcomes—return and risk of Indian companies. It applies fixed and random effects Tobit regressions to examine the effect of female directors on financial outcomes (returns and risk) of the firm, controlling promoters’ shareholding, leverage, firm growth and age, board size and board meetings. The study does not find any support to agency and resource dependence theories because the proportion of women directors in most Indian boards is too small to make much impact. However, it has a moderating influence to reduce variations in accounting profits and stock returns. The investors reward also meeting the regulatory quota of woman member on the boards by higher market returns indicating a signalling effect. The study adds an understanding of quota induced women directors’ influence on the firm’s financial outcomes. However, the regulators should be cautious in mandating induction of women members on the boards as they might be inexperienced or lack the needed grounding to effectively influence board processes.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"155 ","pages":"119 - 139"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220966813","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41275061","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-12-01DOI: 10.1177/0974686220966809
Ishfaq Gulzar, S. Haque, T. Khan
This article endeavours to study the relationship between corporate governance and performance for a sample of 11 textile firms listed on Nifty 500 Index in India. The article examines whether the board characteristics have any impact on performance measures. The data covers the time period from 2014 to 2018. The study uses board size, board meetings, board independence as corporate governance surrogates from different dimensions along with other widely uses of independent variables to assess their impact in a panel data-based regression. The findings provide mixed results between the board characteristics and the firm performance. Board size and firm performance is statistically significant with return on assets and Tobin’s Q. Whereas, board independence, board meetings and CEO duality are not statistically significant with both accounting-based measure of performance and market-based measure of performance. The article provides empirical evidence that board independence, board meetings and CEO duality is not necessary for listed textile companies in India and would be of interest to regulatory bodies, business practitioners and academic researchers. The main value of this article is the analysis of the effect of corporate governance on performance measures on listed Indian textile industries.
{"title":"Corporate Governance and Firm Performance in Indian Textile Companies: Evidence from NSE 500","authors":"Ishfaq Gulzar, S. Haque, T. Khan","doi":"10.1177/0974686220966809","DOIUrl":"https://doi.org/10.1177/0974686220966809","url":null,"abstract":"This article endeavours to study the relationship between corporate governance and performance for a sample of 11 textile firms listed on Nifty 500 Index in India. The article examines whether the board characteristics have any impact on performance measures. The data covers the time period from 2014 to 2018. The study uses board size, board meetings, board independence as corporate governance surrogates from different dimensions along with other widely uses of independent variables to assess their impact in a panel data-based regression. The findings provide mixed results between the board characteristics and the firm performance. Board size and firm performance is statistically significant with return on assets and Tobin’s Q. Whereas, board independence, board meetings and CEO duality are not statistically significant with both accounting-based measure of performance and market-based measure of performance. The article provides empirical evidence that board independence, board meetings and CEO duality is not necessary for listed textile companies in India and would be of interest to regulatory bodies, business practitioners and academic researchers. The main value of this article is the analysis of the effect of corporate governance on performance measures on listed Indian textile industries.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"210 - 226"},"PeriodicalIF":0.0,"publicationDate":"2020-12-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220966809","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"43761866","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-11-11DOI: 10.1177/0974686220965330
Md Sajjad Hosain
This article aims at identifying the relationship between corporate governance (CG) and corporate social responsibility expenditure (CSRE) for the Bangladeshi banking sector. CG has been considered as the single independent variable divided into three components: board size (BS), gender diversity (GD) and board members’ interrelationship (BMI), and CSRE has been considered as the dependent variable. Further, a single moderator—firm value (FV) as been employed in order to test the moderating influence. Annual reports from 2015 to 2019 (5 years) of 35 banking firms have been used as samples. The study utilized Pearson’s correlation coefficient in order to test the direct relationships and regression analysis to test the moderating effects. The analysis has revealed that BS and GD are positively associated with CSRE while BMI has a negative association with CSRE. Furthermore, has been revealed that FV can moderate all the direct relationships. The study is expected to aid researchers in further empirical investigation over this important issue and guide policymakers to obtain more representative outcomes to make constructive decisions regarding CG and CSRE that would, in turn, increase FV.
{"title":"The Relationship Between Corporate Governance and Corporate Social Responsibility Expenditure in Bangladesh: Moderating Role of Firm Value","authors":"Md Sajjad Hosain","doi":"10.1177/0974686220965330","DOIUrl":"https://doi.org/10.1177/0974686220965330","url":null,"abstract":"This article aims at identifying the relationship between corporate governance (CG) and corporate social responsibility expenditure (CSRE) for the Bangladeshi banking sector. CG has been considered as the single independent variable divided into three components: board size (BS), gender diversity (GD) and board members’ interrelationship (BMI), and CSRE has been considered as the dependent variable. Further, a single moderator—firm value (FV) as been employed in order to test the moderating influence. Annual reports from 2015 to 2019 (5 years) of 35 banking firms have been used as samples. The study utilized Pearson’s correlation coefficient in order to test the direct relationships and regression analysis to test the moderating effects. The analysis has revealed that BS and GD are positively associated with CSRE while BMI has a negative association with CSRE. Furthermore, has been revealed that FV can moderate all the direct relationships. The study is expected to aid researchers in further empirical investigation over this important issue and guide policymakers to obtain more representative outcomes to make constructive decisions regarding CG and CSRE that would, in turn, increase FV.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"190 - 209"},"PeriodicalIF":0.0,"publicationDate":"2020-11-11","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220965330","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42910105","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-01DOI: 10.1177/0974686220923805
Danquah Jeff Boakye, Gabriel Sam Ahinful, Randolph Nsor-Ambala
Abstract Purpose: This article investigates the relationship between executive compensation and financial performance for Alternative Investment Market (AIM)-listed firms in the UK. While most studies have looked at the impact of executive compensation on financial performance, this study argues that the issue of reverse causality cannot be ignored even if it is controlled and therefore investigates the extent to which financial performance can also impact on executive remuneration. Design/methodology/approach: The study relies on a sample of 201 AIM-listed firms in the UK from 2011 to 2016 to examine the relationship between executive compensation and financial performance. It draws on agency and tournament theories to model the relationships between executive compensation and financial performance using various panel regression models. Findings: The findings from the study revealed that the chief executive officer (CEO) remuneration impact on both accounting- and market-based measures of financial performance. It also showed that while performance-based incentives like bonus and other long-term incentives linked to performance significantly impact on financial performance, salary, a cash-based non-performance-related compensation rather negatively affects performance. It was also discovered that financial performance can also influence the level of executive compensation and not always vice versa. Value/originality: The study adds novelties to the existing literature by introducing tournament theory to the studies on the relationship between executive compensation and financial performance. Most of the existing studies have been one sided and emphasise only on the influence of executive remuneration on financial performance. However, based on the tournament theory, the study argued that the issue of reverse causality between the two should not be overemphasised even if it is controlled.
{"title":"Chief Executive Officer Compensation and Financial Performance: Evidence from the Alternative Investment Market in the UK","authors":"Danquah Jeff Boakye, Gabriel Sam Ahinful, Randolph Nsor-Ambala","doi":"10.1177/0974686220923805","DOIUrl":"https://doi.org/10.1177/0974686220923805","url":null,"abstract":"Abstract Purpose: This article investigates the relationship between executive compensation and financial performance for Alternative Investment Market (AIM)-listed firms in the UK. While most studies have looked at the impact of executive compensation on financial performance, this study argues that the issue of reverse causality cannot be ignored even if it is controlled and therefore investigates the extent to which financial performance can also impact on executive remuneration. Design/methodology/approach: The study relies on a sample of 201 AIM-listed firms in the UK from 2011 to 2016 to examine the relationship between executive compensation and financial performance. It draws on agency and tournament theories to model the relationships between executive compensation and financial performance using various panel regression models. Findings: The findings from the study revealed that the chief executive officer (CEO) remuneration impact on both accounting- and market-based measures of financial performance. It also showed that while performance-based incentives like bonus and other long-term incentives linked to performance significantly impact on financial performance, salary, a cash-based non-performance-related compensation rather negatively affects performance. It was also discovered that financial performance can also influence the level of executive compensation and not always vice versa. Value/originality: The study adds novelties to the existing literature by introducing tournament theory to the studies on the relationship between executive compensation and financial performance. Most of the existing studies have been one sided and emphasise only on the influence of executive remuneration on financial performance. However, based on the tournament theory, the study argued that the issue of reverse causality between the two should not be overemphasised even if it is controlled.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"63 - 84"},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220923805","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48563536","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-01DOI: 10.1177/0974686220930839
Gagandeep Singh
Abstract Prolific research on gender diversity invariably links it to the financial outcomes, responsible behaviour, stock movements and the like. Very few studies have tried to peep into the actual board composition of the companies to know the effective implementation status of the various impositions and regulations introduced by the legislators to embrace gender equality on board seats. The current study attempts to examine the implementation of three main governance reforms that have been introduced recently by the Indian market regulator, Securities and Exchange Board of India (SEBI) and Companies Act, 2013. In doing so, the study undertook content analysis of annual reports of top 200 Indian companies, constituting BSE200 index over a period of five years, that is, 2015–2019. The observations made about the board composition clearly indicate mere compliance and appointment of women as tokens on Indian boardrooms. The study makes some useful recommendations for the corporate managers and the policymakers.
{"title":"Corporate Governance: An Insight into the Imposition and Implementation of Gender Diversity on Indian Boards","authors":"Gagandeep Singh","doi":"10.1177/0974686220930839","DOIUrl":"https://doi.org/10.1177/0974686220930839","url":null,"abstract":"Abstract Prolific research on gender diversity invariably links it to the financial outcomes, responsible behaviour, stock movements and the like. Very few studies have tried to peep into the actual board composition of the companies to know the effective implementation status of the various impositions and regulations introduced by the legislators to embrace gender equality on board seats. The current study attempts to examine the implementation of three main governance reforms that have been introduced recently by the Indian market regulator, Securities and Exchange Board of India (SEBI) and Companies Act, 2013. In doing so, the study undertook content analysis of annual reports of top 200 Indian companies, constituting BSE200 index over a period of five years, that is, 2015–2019. The observations made about the board composition clearly indicate mere compliance and appointment of women as tokens on Indian boardrooms. The study makes some useful recommendations for the corporate managers and the policymakers.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"110 - 99"},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220930839","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48967350","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2020-06-01DOI: 10.1177/0974686220923789
Shewangu Dzomira
Abstract This article seeks to examine corporate governance and the performance of audit committee and internal audit functions in an emerging economy’s public sector. These two functions form a part of imperative corporate governance aspects, and their effective performance ensures better service delivery by public sector agencies. The study is premised on stakeholder theory, which has turned out to be the central point of public sector discourses. The study is based on qualitative content analysis, which aspires to present information about corporate governance and effectiveness of audit committees and internal audit units in South Africa’s public sector. The findings suggest that there is good corporate governance in terms of the existence of audit committees and internal audit functions in the public sector. However, the results suggest that the audit committees and internal audit units in South Africa’s public sector are not effective. Absence of advice, implementation of recommendations and inadequacy of resources have undermined the performance of audit committees and internal audit units in South Africa’s public sector. The leadership and other assurance bringers ought to consider the findings elevated by the audit committees and internal audit and execute their commendation. Their findings should be urbanised into action plans that are implemented by management. Audit committees must improve their oversight on internal audit functions so that both units would effectively perform. The subsistence of successful audit committee and internal audit components in the public sector certifies proficient and effectual exploitation of resources for the gain of all stakeholders.
{"title":"Corporate Governance and Performance of Audit Committee and Internal Audit Functions in an Emerging Economy’s Public Sector","authors":"Shewangu Dzomira","doi":"10.1177/0974686220923789","DOIUrl":"https://doi.org/10.1177/0974686220923789","url":null,"abstract":"Abstract This article seeks to examine corporate governance and the performance of audit committee and internal audit functions in an emerging economy’s public sector. These two functions form a part of imperative corporate governance aspects, and their effective performance ensures better service delivery by public sector agencies. The study is premised on stakeholder theory, which has turned out to be the central point of public sector discourses. The study is based on qualitative content analysis, which aspires to present information about corporate governance and effectiveness of audit committees and internal audit units in South Africa’s public sector. The findings suggest that there is good corporate governance in terms of the existence of audit committees and internal audit functions in the public sector. However, the results suggest that the audit committees and internal audit units in South Africa’s public sector are not effective. Absence of advice, implementation of recommendations and inadequacy of resources have undermined the performance of audit committees and internal audit units in South Africa’s public sector. The leadership and other assurance bringers ought to consider the findings elevated by the audit committees and internal audit and execute their commendation. Their findings should be urbanised into action plans that are implemented by management. Audit committees must improve their oversight on internal audit functions so that both units would effectively perform. The subsistence of successful audit committee and internal audit components in the public sector certifies proficient and effectual exploitation of resources for the gain of all stakeholders.","PeriodicalId":37340,"journal":{"name":"Indian Journal of Corporate Governance","volume":"13 1","pages":"85 - 98"},"PeriodicalIF":0.0,"publicationDate":"2020-06-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"https://sci-hub-pdf.com/10.1177/0974686220923789","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"49098575","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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