Author(s): T. Sita Ramaiah, Satish Chandra Tiwari, N. Akbar Jan and A. K. Subramani
The main idea of this paper is to study the consequences of board size and board composition on the valuation and performance of Indian companies. The dependent variable has included return on assets (ROA) and Tobin???s Q (TQ). In addition, board Independence (BI), board size (BS), board remuneration (BR), promoter shareholding (PS), ownership structure (OS), female director (FD), firm age (FA), and leverage (LEV) have been considered as the independent variables. The study has used balanced panel data and conducted regression for analysis. We have found that a large board significantly affect firm performance while board independence and female directors have no significant effect on the firm performance. Therefore, the study recommends that the role of independent directors and female directors be reformed in the context of culture and institution and effective enforcement.