This paper argues that the creation of the Basle Accord corresponds more to a rent-seeking than to a market failure logic. As mentioned in the paper, for understanding the same, models are needed that explain why governments propose international institutions in one issue area rather than...

The four papers on aggregation theory and estimation of demand function together provide a complete picture starting from the underlying theory of aggregation and specification to empirical estimation of demand functions. The first paper is about the aggregation across consumers. The second...

Privatization has been a key element of structural reform in many developing and transition economies during the last decade. Governments undertaking privatization have pursued a variety of objectives: increasing economic efficiency, enhancing competition etc. In addition, liquidity-constrained...

Karuturi Global Ltd. (KGL) is an Indian MNC which expanded overseas and has developed as one of the world's top 25 transnational corporation in less than 15 years of its incorporation. It is one of the leading producers of cut roses with operations in Ethiopia, Kenya, Netherlands and India....

The study analyzes the relationship between outward foreign direct investment (OFDI) stocks pertaining to 34 OECD source and 160 destination countries. The principal findings are: (i) The gravity model variables explain nearly 50 per cent of the variation in the OFDI stock. (ii) Common language...

Capital structure pertains to the extent of leverage of the firm. In recent years, a number of theories have been proposed to explain the variation in debt ratios across firms. The theories suggest that firms select capital structures depending on attributes that determine the various costs and...

Purpose – This study attempts to explore the international foray of Aurobindo Pharma (APL) using the eclectic O-L-I framework proposed by Dunning. APL has one of the strongest generic product pipelines in the world and it is the largest Active Pharmaceutical Ingredients manufacturers in...

Investment is often ‘irreversible' i.e. once installed; capital has little or no value unless used in production. The term “irreversibility” of capital refers to the situation in which the firm cannot purchase and sell capital at the same price without any transactions costs or adjustment...