International Journal of Corporate Governance (4 papers in press)

Regular Issues

• Corporate director skill diversity and environmental disclosure  
  by Anju P. Tom, Sudershan Kuntluru, Ajit Dayanandan 
  Abstract: The study investigates whether corporate director skill diversity impacts environmental disclosure in India. In 2020, the capital market regulator, the Securities and Exchange Board of India (SEBI), introduced regulations under the SEBI (listing obligations and disclosure requirements) framework, mandating companies to report the skill sets of each director of the board in their annual reports. We hand-collected directors’ skill data from the annual reports for the period 2019–2020 to 2021–2022. First, we compiled a comprehensive list of all skills reported by the companies, eliminating duplicates and consolidating similar categories, resulting in 17 unique skill categories. Using a dataset of 348 Indian companies from 2020 to 2022, the period following the mandatory directors’ skill disclosure requirement, we find that director skill diversity exhibits a significant positive impact on environmental disclosures in India. The research findings provide direct evidence for improving environmental disclosures and achieving sustainable development.
  Keywords: director skill set; board skill set; board diversity; environmental disclosure; India.
  DOI: 10.1504/IJCG.2025.10073209
   
  
• Beyond challenges and monetary compensation: human resource behaviours leading to firm's growth  
  by Yaoyao Tang, Emmanuel Paulino, Ronald P. Romero 
  Abstract: This study examined the relationship between human resource behaviours and firm growth in IT enterprises in Beijing, China. Specifically, it evaluated the effects of innovative working behaviour, organisational citizenship, and employee resilience on firm growth. Using cluster sampling, 220 managers from selected IT enterprises responded to a survey questionnaire. Multi-regression analysis revealed that innovative working behaviour and organisational citizenship positively impact firm growth, while employee resilience showed no significant effect. The findings highlight the importance of employees ability to generate innovative ideas, perform beyond formal responsibilities, and adapt to change in driving firm success. Interestingly, resilience did not translate into measurable growth benefits, suggesting its role may be indirect or context-dependent. This study is unique in applying multiple regression to assess the combined effects of these behaviours on firm growth and is the first in China to explore how human resource behaviours influence organisational performance.
  Keywords: China; employee resilience; ER; firm growth; innovative working behaviour; IWB; IT industry; multi-regression analysis; organisational citizenship.
  DOI: 10.1504/IJCG.2025.10073224
   
  
• The interplay between board characteristics and governance scores: role of family ownership  
  by Iragavarapu Sridhar, Kalyani Mulchandani, Sahil Singh Jasrotia, Ketan Mulchandani 
  Abstract: This study aims to examine the interplay between family structures and board characteristics concerning their impact on governance scores in the Indian context. The study empirically tests data of firms listed on Nifty-50, and ten-year data from 2012 to 2021 is considered for analysis. Balanced panel data is formed with 500 firm-year observations. It shows the positive association of board size with governance scores. However, CEO-Chairman duality is found to have insignificant impact on the governance scores. The findings indicate that family ownership moderates the influence of board characteristics and governance scores. The negative moderating effect of family ownership on the relationship between independent directors and governance scores stresses on the challenges associated with maintaining independence and objectivity in family-owned firms. These findings have several implications for corporate governance practices and policy formulation and supports that firms should prioritise governance even during periods of financial distress to safeguard shareholder interests and long-term sustainability.
  Keywords: board characteristics; family ownership; governance scores; CEO duality; independent directors; board size.
  DOI: 10.1504/IJCG.2025.10073809
   
  
• Indian insurance governance: evolutionary trends and signs of convergence  
  by Barkha Goyal, Rachita Gulati 
  Abstract: The paper examines the evolution of corporate governance practices within the Indian insurance industry from 2014 to 2021, focusing on β-and σ-convergence. A corporate governance index and its three sub-indices focusing on board effectiveness, audit function, and risk management are constructed using the principal component analysis. Convergence phenomena are analysed using the dynamic panel two-step system generalised method of moments (GMM) approach. Results indicate significant progress in governance quality, driven primarily by board practices and audit norms, though there remains ample potential for further improvement. β-and σ-convergence findings suggest that inadequately governed insurers are catching up with the better-governed insurers, particularly in board and audit governance. Further, the study divulges that non-life insurers need to put more effort into improving their governance structure. We recommend prioritising debt governance along with equity governance to control policy scams and improve the overall health of the Indian insurance market.
  Keywords: audit function; board effectiveness; β-and σ-convergence; corporate governance index; Indian insurers; risk management; system GMM.
  DOI: 10.1504/IJCG.2025.10073982