Traversing corporate governance: Assessing internal mechanisms and financial performance in evolving landscape

This research delves into the evolving landscape of corporate governance (CG) in India, propelled by historical scandals and subsequent reforms. Using panel data, the study focuses on the investigation of the impact of ownership concentration and board characteristics on financial performance. To achieve the objective of the study, a sample of the top 34 non-financial enterprises listed on the National Stock Exchange of India (NSE) has been obtained to test the relationship. The study utilized multiple regression analysis to examine the association between the independent and dependent variables. This research attempts to close the gap in the existing literature about the relationship between company performance and ownership structure in the emerging country of India. The findings showed a positive and significant relationship between board members and the performance of the firm. This study further contributes to the larger conversation on CG in developing countries by putting the research inside the unique business environment of India and offering insights into how internal governance procedures affect financial performance.