Using a large sample of business-group-affiliated firms in India, we investigate whether corporate financial decisions that create internal capital markets are influenced by the extent of insider ownership. We hypothesize that insiders want to control more capital, motivated either by...

Measuring the consumption response to a tax regime has been a central issue in the optimal design of fiscal policy. This study leverages a large-scale natural experiment in India, the 2017 Goods-Service-Tax (GST) Reform, to quantify its impact on suppliers' pricing strategy and consumer...

Using big datasets from four diverse sources, of both suppliers and facilitators or recipients of digital payment platforms, we conduct a comprehensive analysis of the impact of unexpected demonetization in India on payment digitization. The drying-up of cash due to demonetization leads to a...