We use the stochastic frontier approach to estimate the impact of firm characteristics on investment decisions of …) optimum investment that is consistent with a firm's characteristics such as the Tobin's q during each firm-year, and then … estimate the deviation from this unobserved optimum in the form of an (investment) efficiency score that varies between zero …

findings are that first, competition created after financial sector reforms generates high efficiency growth, and reduces …

This paper examines the role of uncertainty and capital market imperfection in influencing firm investment …. Introduction of uncertainty in the investment model allows for limited expandability and limited reversibility of capital over time … group. We identify financially constrained firms in various years by relying on investment-asset sale sensitivity. Using an …

India in view of economic capacity utilization and total factor productivity growth as well as partial factor productivity … growth at aggregate level from 1979-80 to 2003-04.The intra-industry as well as inter-industry variations in CU and TFPG …, trend in total factor productivity growth with adjustment for capacity utilization of those industries, impact of …