We show that for a sample of 1,882 publicly listed Indian firms and sample period from 2016 to 2021, derivative-usage significantly reduces the idiosyncratic stock return volatility. The negative effect of derivative-usage on idiosyncratic volatility is more pronounced for firms with poor...

Driven by the dynamic corporate social responsibility (CSR) environment, which is encouraging movement from self-regulation to co-regulation, this study empirically investigates the impact of CSR on the efficiency of capital investments of firms in India, given its remarkable legislation that...

Purpose – The study investigates the relationship between corporate social responsibility (CSR) and dividend policy in the context of Indian firms, as well as how regulatory interventions in the form of mandated CSR can moderate this relationship. Design/methodology/approach – A sample of...

We study corporate investments around national elections in India. Investment rates drop by a nonsignificant 2.2% for state-owned enterprises (SOEs) in election years. The decrease is significantly larger for private firms, which record an investment drop of 7.4%. The decrease in investment for...

We examine how firms with foreign controlling shareholders (promoters) affect corporate investment in India. Using a large sample of publicly listed non-financial firms, we find that firms with foreign controlling shareholders invest less and, as their ownership increases capital expenditures...

This study finds that aggressive tax strategies adopted by a firm affect idiosyncratic stock return volatility. Aggressive tax strategies, which I measure as tax paid by a firm divided by pretax income (adjusted for special items), are associated with higher levels of idiosyncratic stock...