We study the effect of board governance in state-owned and private banks by undertaking a study of commercial banks in India that has both bank groups. Covering a ten-year period from 2003 to 2012 that witnessed a large number of governance reforms in India, the results of our empirical analysis...

India’s recently announced privatization strategy can facilitate a change in the composition of the public sector balance sheet toward high-return public sector investments in infrastructure and human capital where there is a clear role for government, leaving commercially viable companies for...

Public enterprises never disappeared in spite of several privatization waves in the last three decades. This paper offers some trends and possible rationales for their resilience. In a sample of the Forbes 2000 top corporations, as reviewed by OECD economists (Kowalski et al. 2013), we show that...

The Indian government’s latest series of farm laws (a set of three acts) have sparked protests by farmers around the country. This viewpoint argues that the new farm laws are designed to deepen capitalism within the countryside by liberalising agricultural trade in the country. It highlights...

From the middle of the last century, socio-economic rights have been bound up in the ideology of the state within national legal orders and through the construction of an important edifice of public international law and institutions. Globalization may be changing both the focus and locus of...

Public sector enterprises (PSEs) have been one of the key drivers of economic development in several countries, including India. While many countries have gradually moved away from the PSE model of growth, in the year 2019, around 25 percent of the Fortune Global 500 companies were PSEs. As...

The incredibly low levels of learning and the generally dysfunctional public sector schooling systems in many (though not all) developing countries are the result of a capability trap (Pritchett et al. 2010). Two phenomena reinforce persistent failure of schooling systems to produce adequate...

Kautilya's Arthaśāstra, from the end of the fourth century BC, provides interesting insights into the problems of governance, accounting and control in the Mauryan society. This paper uses the extant English translations of Arthaśāstra to summarize the structure of the Mauryan economy,...

The Employee Stock Options Scheme has been widely acknowledged as an effective tool for enhancing the productivity, efficiency and effectiveness of the organizations through increased employee morale and commitment. In India, we found several success stories of ESOPs, namely Wipro, Dabur,...