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Unravelling The Nexus Between Corporate Governance And Sustainability Performance: Evidence From India

Author

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  • Malaya Ranjan Mohapatra

    (Indian Institute of Management Jammu, India)

  • Chandra Sekhar Mishra

    (Indian Institute of Technology Kharagpur, India)

Abstract

This research investigates the influence of Corporate Governance (CG) practices on the Sustainability Performance (SP) of Indian non-financial firms. The study, utilizing a balanced panel of 1550 firm-year observations, demonstrates that overall corporate governance score and CEO duality improve sustainability performance. However, the moderation effect indicates that the positive effect of CG practices on SP is compromised when the same person holds both CEO and chairperson positions in a firm. Additionally, the relationship between CG and SP varies based on ownership structure, i.e., group-affiliated and non-group affiliated firms, as well as different industrial sectors, i.e., manufacturing, service, and diversified sectors.

Suggested Citation

  • Malaya Ranjan Mohapatra & Chandra Sekhar Mishra, 2025. "Unravelling The Nexus Between Corporate Governance And Sustainability Performance: Evidence From India," Bulletin of Monetary Economics and Banking, Bank Indonesia, vol. 28(3), pages 431-464, October.
    • Handle: RePEc:idn:journl:v:28:y:2025:i:3f:p:431-464
    DOI: https://doi.org/10.59091/2460-9196.2129
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    Keywords

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    JEL classification:

    • G30 - Financial Economics - - Corporate Finance and Governance - - - General
    • G32 - Financial Economics - - Corporate Finance and Governance - - - Financing Policy; Financial Risk and Risk Management; Capital and Ownership Structure; Value of Firms; Goodwill
    • M14 - Business Administration and Business Economics; Marketing; Accounting; Personnel Economics - - Business Administration - - - Corporate Culture; Diversity; Social Responsibility

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