Risk Governance Structure and Firm Level Competitiveness: An Evidence from Select Sample in India Shivaani M. V.1, Jain P. K.2, Yadav Surendra S.3 1Indian Institute of Management, Nagpur, Email: mvshivaani@gmail.com 2Indian Institute of Technology, Delhi, Email: pkjain.iitd@gmail.com 3Indian Institute of Technology, Delhi, Email: ssyadav@dms.iitd.ac.in Online published on 27 November, 2018. Abstract Firm's competitiveness is considered to be a primary force in deciding its fate, and as firm's working environment is fraught with risks it needs robust risk governance structures to ensure its financial competitiveness. Therefore, this paper attempts to examine the relationship between quality of risk governance structures and firm's competitiveness. For the purpose, the paper first develops a normative risk governance index (a measure of quality of risk governance structures) based on eleven variables; then, using the data of 429 non-financial companies that constituted NIFTY 500 index, over a 10-year period (i.e.) from 2005 to 2015, multiple regression model has been employed. The results indicate that there is a positive relation between quality of governance structure and firm's competitiveness. It is noteworthy that a number of control variables, such as, age, size, R&D intensity, leverage, growth rate, recession dummy and industry dummies have been included to ensure completeness of the model; to demonstrate the robustness of results, another set of regression has been run where the competitiveness has been measured as per the widely acknowledged financial performance facet. These results lend credence to the index developed in the study as well as to the hypothesis. In view of this, the study is expected to have useful implications for companies as well as policy-makers. Top Keywords Corporate governance, Firm competitiveness, Firm performance, Governance structure, Market share, Profitability, Risk governance. Top |