Asian Business & Management

, Volume 11, Issue 2, pp 195–218 | Cite as

Corporate governance disclosures and international competitiveness: A study of Indian firms

  • S SubramanianEmail author
  • V Nagi Reddy
Original Article


Past research on financial disclosures indicates the existence of proprietary costs that discourage companies from disseminating full information in the presence of competition in domestic markets. However, the relationship may not hold in international competition regarding corporate governance disclosures. Firms must disclose information about their corporate governance practices to win the confidence of buyers and this may actually improve competitiveness. In this article, we study the relationship between corporate voluntary disclosures and competitiveness of Indian firms in the international product market, using Multiple Regression Models. The regression analysis indicates mixed results: firms gain competitiveness in international markets when they voluntarily disclose more about their board practices, but ownership-related disclosures reduce market share. The size of the firm, industry concentration ratio and firm growth rate are included in the regression equations as control variables, and their relationship with competitive measures was found to be in line with a priori expectations.


corporate governance disclosures competitiveness product market international competition 



We thank the anonymous reviewers for their valuable comments in improving this article.


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Copyright information

© Palgrave Macmillan, a division of Macmillan Publishers Ltd 2012

Authors and Affiliations

  1. 1.Institute of Management TechnologyHyderabadIndia
  2. 2.IBS Hyderabad, IFHE University, Dontanapalli CampusHyderabadIndia

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