performance of particular interest. Productivity is considered as a major measure of firm performance, but for comparison … endogeneity, there is no evidence that a greater share of independent directors boosts firm performance in general. At the time … productivity. While volume-based growth may lead to higher performance by the accounting ratios, it does not necessarily guarantee …

shareholders. A greater say for institutional investors and more active use of private remedies, such as class action suits, would … for corporate control would lead to better performance by the groups. The ownership structure of the groups needs to be …