Do ownership and board characteristics enhance firm performance? A corporate governance perspective

The main aim of the current study is to examine the relationship of ownership and board characteristics with firm performance of Pakistan non-financial firms. This study employed panel data and collected from the annual reports of Pakistan for the period of 2010-2017 and used the regression model. The findings of this study state that the managerial ownership and foreign ownership have a significant positive impact on firm performance measured by market share. Duality has a significant negative and board independent is negative but not significant impact. Board size also has a significant positive relationship with firm performance. The good corporate governance is important which reduce the agency conflicts and enhance the stakeholder's interest. This study explores the link of ownership and board characteristics with firm performance examined by market share. The findings of this study will be helpful to the stakeholders, policymakers, government and practitioners.