Impact of Financial Inclusion on Firm Performance with Moderating Role of Ownership Concentration and Board Independence

Financial inclusion and financial performance have garnered considerable attention due to the demanding conditions prevalent in today's business landscape. Moreover, financial inclusion are considered as central issues to assess firm performance of organizations in marketplace. Thus, the aim of current research is to scrutinize the association of financial inclusion with firm performance within banking industry of four countries from the South Asian Association for Regional Cooperation (SAARC) namely Pakistan, India, Bangladesh and Sri Lanka. The data used in the research was obtained from secondary sources, including audited financial statements of banks from 2010 to 2021. Pooled OLS, random effect, and fixed effect are three estimation techniques implemented for analyzing the data. Thus this study contribute in earlier research in its empirical approach, choice of countries, and the range of variables examined. The findings endorse the notion of robust association between financial inclusion, and firm performance. Furthermore, ownership concentration and board independence performs a significant function in moderating the connection among financial inclusion, and firm performance. These outcomes provide valuable insight for policymakers, and regulators in understanding the importance of financial inclusion towards improved firm performance. These findings also emphasize the significance of ownership concentration and board independence in fostering inclusive growth in the banking sector.