Sarkar, Jayati; Sarkar, Subrata - Indira Gandhi Institute of Development Research (IGIDR) - 2005
We analyze the role of debt in corporate governance with respect to a large emerging economy, India, where debt has … been an important source of external finance. First, we examine the extent to which debt acts as a disciplining device in …-affiliated and non-affiliated companies to see if the governance role of debt is sensitive to ownership and control structures …