Gangopadhyay, Shubashis; Lensink, Robert; Molen, Remco … - Faculteit Economie en Bedrijfskunde, Rijksuniversiteit … - 2001
Abstract We examine the effect of business group affiliation on corporate investment behavior in India. We use a data set containing 684 Indian listed companies for the 1989-1997 period. We estimate a simple investment equation and find evidence that cash flow has a positive effect on investment...