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Financial constraints are widespread in developing countries, where even short-term credit is limited. Finance held by firms as working capital is a substantial proportion of sales revenue, yet the role of working capital is largely neglected by existing models of financial constraints. This...
Persistent link: https://www.econbiz.de/10012973444
Firms have various ways to cope with external risks. This paper analyzes the risk coping behavior that entails the smoothing of inputs (labor, raw materials, or capital). The theoretical framework shows that, if they face adjustment costs, firms prefer to smooth their inputs, especially if they...
Persistent link: https://www.econbiz.de/10012974919
How many and which firms issue equity and bonds in domestic and international markets, how do these firms grow relative to non-issuing firms, and how does firm performance vary along the firm size distribution? To evaluate these questions, a new data set is constructed by matching data on...
Persistent link: https://www.econbiz.de/10012971470
the early lifecycle of firms across diverse institutional environments of regions in India. It finds that the size and …
Persistent link: https://www.econbiz.de/10012972067
The differences in financial development across Indian states, while seeming substantial, have a minor effect on firm lifecycle and growth. These results hold controlling for differences in labor regulations across states, capital intensity, and for firms born before and after the major reforms....
Persistent link: https://www.econbiz.de/10012972856
This paper studies the extent to which firms in China and India use capital markets to obtain financing and grow. Using …
Persistent link: https://www.econbiz.de/10012974497
comprehensive, firm-level data from India's organized manufacturing sector to show that market-share reallocations did play an … important role in aggregate productivity gains immediately following the start of India's trade reforms in 1991. However … productivity, which can be attributed to India's trade liberalization and FDI reforms …
Persistent link: https://www.econbiz.de/10012975836
A long-standing question in social science is to what extent differences in management cause differences in firm performance. To investigate this, the authors ran a management field experiment on large Indian textile firms, providing free consulting on modern management practices to a randomly...
Persistent link: https://www.econbiz.de/10012976149
Under financial constraints, exporting may have less to do with productivity and more to do with financial resources. The established relationship between exporting and productivity would differ when examined through the lens of the working capital needs of the firm. The hypothesis that working...
Persistent link: https://www.econbiz.de/10012973315
Recent National Sample Surveys point to significant poverty reduction in India since 2004/05, with a marked … analysis draws on the synthetic panels to derive a vulnerability line for India that can be used to separate out a population …
Persistent link: https://www.econbiz.de/10012937263