Please use this identifier to cite or link to this item: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4836
Title: Do board and audit governance matters for insurer performance? A meta-analytical review
Authors: Goyal, Barkha
Gulati, Rachita
Keywords: Agency theory
Audit governance
Board governance
Insurer performance
Meta-analysis
Stewardship theory
Issue Date: Sep-2023
Publisher: Indian Institute of Management Calcutta, Kolkata
Series/Report no.: Vol. 50;No. 3
Abstract: Amassing a dataset of 32 empirical studies published between 2003 and 2021, the article metaanalyzes the effect of board and audit governance on insurer performance. Utilizing the Schmidt and Hunter (2015) approach, it also investigates whether variations in findings are attributable to definitions of governance variables, performance measures, corporate governance systems, endogeneity issues, and publication quality. The study particularly focuses on four board (board size, outside directors, CEO duality, and board meetings) and three audit attributes (presence of an audit committee, its size, and independence). The results show that outside directors and the audit committee presence significantly improve insurer performance. However, board size and duality hold a positive influence only in Anglo-American economies. The study advocates that simply occupying the insurer’s board with outside directors is insufficient. Instead, they should be ‘‘operationally independent’’ for the effective functioning of the insurers’ boards. Our study recommends implementing distinct governance norms for insurers aligned with the country’s internal environments instead of reproducing a common set of practices.
Description: B. Goyal, Department of Humanities and Social Sciences, Indian Institute of Technology Roorkee, Roorkee 247667, Uttarakhand, India | R. Gulati, Department of Humanities and Social Sciences, Indian Institute of Technology Roorkee, Roorkee 247667, Uttarakhand, India
p. 285-319
URI: https://ir.iimcal.ac.in:8443/jspui/handle/123456789/4836
ISSN: 0304-0941(print version)
Appears in Collections:Issue 3, September 2023

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