International Journal of Corporate Governance (6 papers in press)

Regular Issues

• The role of CSR in shaping financial reporting and accounting decisions in India: a fuzzy analytical hierarchy process approach  
  by Suresh Kumar Sahoo, Stutee Mohanty, Saudamini Swain 
  Abstract: This study examines the role of various corporate social responsibility (CSR) factors in determining and shaping corporations’ financial reporting and accounting decisions in India, the fastest growing economy in the world. This study includes various CSR variables deduced by conducting a thorough literature review of articles published by numerous academics and researchers in Scopus-indexed journals over the past two decades. The authors employed the fuzzy analytical hierarchy process (F-AHP) to investigate the impact of CSR constructs on the choices made by corporate leaders in the country. The results highlight that global standards and guidelines, sustainability, and stakeholder engagement have the most significant positive impact on Indian business leaders’ financial reporting and accounting decisions. Risk management has the least significant effect on these decisions. The majority of the study was carried out in Southern India, where there is little variation in people’s perception.
  Keywords: corporate social responsibility; CSR; financial reporting; accounting; decision-making; corporations; fuzzy analytical hierarchy process; F-AHP; India.
  DOI: 10.1504/IJCG.2026.10075451
   
  
• The effect of female supervisors on structure and dynamics of the management board  
  by Johannes Carow 
  Abstract: I analyse the effect of female supervisors on structure and dynamics of the management board in publicly listed German firms between 2011 and 2019. Regarding structure, I confirm that female shareholder representatives on the remuneration and personnel committee foster female management board representation. In terms of dynamics, the results indicate that female supervisors increase the likelihood of turnover of CEOs, CFOs and CHROs. The effect is driven by female employee representatives. I provide further detailed mechanisms of female employee representatives on committees on turnover of specific executives. I thereby contribute to a better understanding of interactions between both boards in a two-tier system with codetermination.
  Keywords: board gender diversity; gender spillovers; executive turnover.
  DOI: 10.1504/IJCG.2026.10075571
   
  
• Females on board and sustainability performance: evidence from the emerging markets  
  by Ahmed F. Elbayoumi, Hanan Elmoursy, Somya M. Eljilany, Mohammed Bouaddi, Mohamed Basuony 
  Abstract: This study examines the impact of gender diversity, board size, board independence, and CEO duality on sustainability performance. Using a dataset of 19,199 firm-year observations from 25 emerging market countries listed in the MSCI emerging markets index from 2008 to 2021, this study provides robust empirical evidence on the association between board composition and sustainability performance. We employ fixed effect model with lags and GMM to provide robust empirical evidence. The results reveal that the presence of female directors on boards (executive and non-executive) improves the firm’s sustainability performance. While, board independence negatively affects the ESG scores indicating that independent directors care less about scoring high in sustainability performance. This study contributes to the ongoing discourse on sustainability by providing a deeper comprehension of the intricate relationships between board composition and sustainability performance. Our findings help advance our understanding of the role of board composition in shaping corporate sustainability decisions.
  Keywords: board gender diversity; board composition; board independence; CEO duality; sustainability performance.
  DOI: 10.1504/IJCG.2026.10075939
   
  
• Measuring CEO hubris through the hubris quotient: implications for corporate governance in an emerging market  
  by Jagannath Sharma Nistala, Kamran Quddus, Divya Aggarwal 
  Abstract: This study develops the hubris quotient (HQ), a governance-proximate index that captures the behavioural and structural manifestations of CEO overconfidence, distinguishing it from the enduring personality trait of narcissism. Analysing Indian listed firms, we examine their asymmetric effects on performance. Addressing endogeneity with ArellanoBond GMM estimators, we find a significant duality: HQ is positively associated with short-term ROA but negatively associated with Tobins Q. This finding indicates that while hubris may boost profitability through assertive action, it concurrently imposes a market valuation penalty, eroding investor confidence. Robustness checks, including factor analysis, support these findings. The HQ provides a transparent tool for calibrating governance to strike a balance between entrepreneurial initiative and sustainable long-term value.
  Keywords: behavioural corporate finance; CEO hubris; corporate governance; Emerging markets; hubris quotient; HQ; leadership behaviour.
  DOI: 10.1504/IJCG.2026.10075987
   
  
• Impact of board gender diversity and owners’ business education on business insurance coverage decision  
  by Amarjit Gill, Harvinder S. Mand, Gaganpreet Kaur, Jasleen Kaur 
  Abstract: The current study presents evidence that board gender diversity (BGD) and owners' business education (OBUS_EDU) have a positive impact on family business owners' business insurance coverage decisions (BUS_INS) in India. The study used a survey research design to collect data. The current study minimized endogeneity problems and provided robust results by employing a two-stage least squares regression model. The findings indicate that family business owners who prioritize BGD and have higher levels of OBUS_EDU are more likely to increase their business insurance coverage, thus mitigating operating risk. The current study may benefit academics as a stepping stone for further investigation into the relationship between BGD, OBUS_EDU, and BUS_INS. On the other hand, insurance consultants can leverage this study to provide tailored consulting services to family business owners. This study also highlights the importance of prioritizing BGD and OBUS_EDU in family businesses to mitigate operational risk.
  Keywords: board gender diversity; owners’ business education; business insurance coverage; India.
  DOI: 10.1504/IJCG.2026.10075993
   
  
• Role of narrative disclosures in corporate governance and audit pricing: evidence from India  
  by Nitin Dhir, Balwinder Singh 
  Abstract: Our study aims to explore the complex relationship between narrative disclosures (NDs), particularly the negative tone (TONE) and readability (READ) of annual reports, and its mediating or moderating effect on the corporate governance (CG)-audit fee (FEE) relationship. We measured CG through 39 board as well as audit committee characteristics, while the TONE through the logarithm of negative words and sentences, likewise READ using two established indices: the FOG index (FOG) and the SMOG index (SMOG). The dataset consists 2835 firm-year observations of Indian-listed firms from 2015 to 2021. Our study reveals that the TONE and READ of annual reports significantly mediate the magnitude and direction of the relationship between CG and FEE. Furthermore, the TONE of reports also moderates the role of CG in determining FEE, indicating that lower CG quality increases audit risk. This paper contributes a distinctive empirical investigation focusing on the interplay between CG, NDs and FEE.
  Keywords: corporate governance; audit pricing; negative tone; readability; FOG index; SMOG index; mediation; moderation; India.
  DOI: 10.1504/IJCG.2026.10076131