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Jitendra Aswani
Jitendra Aswani is a Post-Doctoral Fellow at MIT Sloan. At present he is a post-doctoral fellow at Harvard University affiliated with the Program on Corporate Governance at the Harvard Law School. He has a PhD in Finance from Gabelli School of Business, Fordham University. Before joining Fordham, he did his MPhil in Economics from Indira Gandhi Insitute of Development Research, Mumbai and BS (Chemical Engineering) from National Institute of Technology, Jaipur in India. He has also worked at the Indian Oil Corporation for a small stint.
His research focuses on corporate governance, ESG/CSR, corporate finance, debt markets, and behavioural finance.
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Can shared social identity minimise corporate frictions?
A separation between owners and managers of firms gives rise to various problems known as ‘agency conflicts’. This article explores whether having a shared social identity between managers and board members can help reduce frictions and improve firm performance. Analysing data from Indian firms, it finds that homophily enhances firm value in the long run – despite the costs associated with in-group favouritism.
