The study has attempted to examine whether the board size and board independence have any impact on the financial performances of the Indian textile firms. Accessing the data of the 40 sample firms representing the top 100 BSE-listed textile firms during the timeline 2015–2019 and applying the panel data regression model, it has assessed the impacts. Accounting- and market-based financial measures have been proxied, and a significant positive association between the board size and firm performance has been established. Interestingly, a significant inverse relationship between the board independence and financial performance has also been indicated. It has concurred policy implications as the inclusion of more number of board members would likely to increase the firm performance. Moreover, for improving the sound decision-making, firms may chalk out a policy with capping on the engagement of independent directors in other firms. It has acknowledged a few limitations and has sketched a roadmap for posterior studies as well.
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