Performance of Tourism and Hospitality Firms in India: Role of Board Structure and Management Practices of Corporate Governance

Good corporate governance is fundamental to the success and sustainability of firms. Corporate governance in India is based on a mix of voluntary and mandatory compliance to ensure professionalism. This study assesses the role of corporate governance norms related to Board Structure and Management Practices on the performance of public listed Tourism & Hospitality firms in India. The study uses panel Data Regression analysis for 60 firms over seven financial years from 2009-10 to 2015-16. The results show that the Board Structure and Management Practices during the study period had negative impacts on firm performance indicators of Return on Equity and Return on Assets. This suggests the need for more reforms in corporate governance.