Portfolio Flows and Governance in Corporate India
IUP Journal of Corporate Governance, Vol. XI, No. 2, April 2012
11 Pages Posted: 25 Apr 2013 Last revised: 21 Oct 2013
Date Written: 2012
This paper is an attempt to find out the factors affecting investment by foreign portfolio investors in India. Considering firm-level variables, the paper tries to find out the importance of corporate governance factors in foreign portfolio investment in India, based on the annual governance data (March 2008) and foreign portfolio investment data (March 2009) of BSE 500 companies. Estimating the multiple regression equation by using ordinary least squares technique, the paper reveals that the foreign portfolio investment is significantly affected by financial returns as well as corporate governance factors.
Keywords: Foreign Portfolio Investments, Corporate Governance, OLS, BSE 500, India
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