Audit Committee Characteristics and Firm Performance: Evidence from India - Acta Universitatis Sapientiae

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Volume 12, 2024
Audit Committee Characteristics and Firm Performance: Evidence from India
Abhisheck Kumar SINGHANIA

Acta Univ. Sapientiae, Economics and Business, 12 (2024) 240–263

DOI: 10.47745/auseb-2024-0011

Abstract. This study examines the impact of audit committee (AC) characteristics on firm performance (FP) in 133 NSE-listed Indian companies over five years. Data from annual reports, Capitaline, Prowess, and NSE websites are analysed using panel-corrected standard error regression. Results show that non-executive directors, AC charter, AC size, multiple directorships, and meeting attendance positively affect ROA and market capitalization. Gender diversity influences ROA, while expertise affects market capitalization, but AC independence negatively impacts market capitalization.The collective effect of all 11 AC characteristics significantly enhances FP. This research provides a comprehensive analysis, with three characteristics not previously studied.

Keywords: audit committee, firm performance, ROA, market capitalization, PCSE, India

JEL Classification: M41

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Volume 12, 2024
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