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Publication date: 1 August 1968

Veronica Weir

The Technion is Israel's oldest institution of higher learning. Its origins date back to the years of pre‐World War I. To 1912 to be exact. But, due to the outbreak of hostilities…

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Abstract

The Technion is Israel's oldest institution of higher learning. Its origins date back to the years of pre‐World War I. To 1912 to be exact. But, due to the outbreak of hostilities it begun to function only in 1924. Some years had to pass before it got over its birth pangs. Its infancy led to moderate accomplishments compared to the present fame. The Technion stands to‐day on 300 acres of wooded land. Its campus on Mount Carmel is one of the most beautiful in the world. A city within a city the Technion comprises some forty impressive, modern buildings that blend into their landscaped setting. It took the newly founded College for Higher Education, which is in the Negev, under its wings, and the young Haifa University is affiliated with the Technion. Academically, it is being compared to the Massachusetts Institute of Technology. Not only for being a Technical University but for the superior qualifications demanded from its teaching staff and the high standard expected from its students.

Details

Education + Training, vol. 10 no. 8
Type: Research Article
ISSN: 0040-0912

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Article
Publication date: 5 March 2018

Rakesh Kumar Mishra and Sheeba Kapil

The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.

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Abstract

Purpose

The purpose of this paper is to explore the relationship of board characteristics and firm performance for Indian companies.

Design/methodology/approach

Corporate governance structures of 391 Indian companies out of CNX 500 companies listed on National Stock Exchange have been studied for their impact on performance of companies. Structural equation modeling methodology has been employed on data for five financial years from 2010 to 2014 for selected companies. Market-based measure (Tobin’s Q) and accounting-based measure (return on asset) have been employed for measuring firm performance.

Findings

Empirical findings indicate that there is significant positive association between board size and firm performance. Board independence is found significantly related to firm performance. Number of board meetings is found to be sending positive signal to the market creating firm value. Separation of CEO and chairman of the board is found to be value creating and overburdened directors affect firm performance adversely. Findings also suggest that the governance-performance relationship is also dependent upon the type of performance measures used in the study.

Research limitations/implications

Limitations of this study are in terms of data methodology and possible omission of some variables. It is understood that the qualitative dynamics happening inside board meetings impact corporate performance. The strategic decisions-making process adopted by the boards to fight competition or to increase market share is not available in public domain easily. The decision-making processes and monitoring for implementation of these decisions could impact corporate governance-performance relationship. These parameters and their impact on corporate performance are not covered under the scope of the present study. However, the same could have thrown more light on governance-performance relationship.

Originality/value

The paper adds to the emerging body of literature on corporate governance-performance relationship in the Indian context using a reasonably wider and newer data set.

Details

South Asian Journal of Business Studies, vol. 7 no. 1
Type: Research Article
ISSN: 2398-628X

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