This paper examines the impact of the deregulation of compulsory industrial licensing in India on firm size dynamics and reallocation of resources within industries. Following deregulation, resource misallocation declines and the left-hand tail of the firm size distribution thickens...

WORKING CAPITAL MANAGEMENT (WCM) is the most dynamic financial decision making aspect of every business entity as it involves the management of ever-changing and dynamic current assets and adjusting them with the level of sales and market demands. WCM being a major revenue-generating activity is...

This study examines the extent to which financing constraints affect the research and development (R&D) expenditure of Indian manufacturing firms during the period 1991–2011. Using dynamic R&D investment model, we find significant positive relationship between a firm's R&D expenditure and...

Does a reduction in the tax rate trigger investments in developing countries? This paper answers this question in a difference in difference framework. Using firm-level data on Indian manufacturing firms I study the impact of the 2019 and 2020 Indian tax reform that reduced the corporate income...

Does a reduction in the corporate income tax rate trigger investments in developing countries? This paper answers this question in a difference in differences framework. Using firm-level data on Indian manufacturing firms I study the effect of the 2019 and 2020 Indian tax reform that reduced the...

In this paper we study 325 large scale asset sale transactions by Indian manufacturing firms in the period 1996 to 2008. We find that the likelihood of asset sales increases with the firm's low capacity of debt utilisation and decreases with size, profitability, operating performance and...