Since the beginning of liberalization FII flows to India have steadily grown in importance. In this paper we analyze these flows and their relationship with other economic variables and arrive at the following major conclusions: * While the flows are highly correlated with equity returns in...

This book provides a comprehensive picture of the recent trends and developments in the Indian finance scenario. It provides the reader with:. - A comprehensive description and assessment of the Indian capital markets. - An analytical approach together with a description of major recent...

The recent corporate governance scandals at the fourth largest software firm in India, Satyam Computers Limited, provide two clean and major corporate governance events, with effects on firms across the board in India (and possibly other emerging market countries). The first instance was a shock...

Most theoretical studies of corruption tend to focus on the micro models of the phenomenon studying individual acts of corruption, while the empirical papers typically study corruption at the country level. This paper builds an agent-based computational dynamic general equilibrium model of...

The Indian corporate governance system has both supported and held back India's ascent to the top ranks of the world's economies. While on paper the country's legal system provides some of the best investor protection in the world, enforcement is a major problem, with overburdened courts and...

The microfinance crisis in Andhra Pradesh signals a deeper malaise in the regulatory architecture of the Indian financial system -- unclear demarcation of regulatory jurisdictions. Unless remedied, the symptoms of this problem are likely to arise again and elsewhere in the system.

"We develop and test two competing hypotheses that relate the market for nonexecutive directors to the level of external monitoring mechanism of the firms they serve. The Reward for Discretion Hypothesis posits that directors are valued more when they display discretion concerning their choice...

This study describes the Indian corporate governance system and examines how the system has both supported and held back India's ascent to the top ranks of the world's economies. While on paper the country's legal system provides some of the best investor protection in the world, enforcement is...

With extensive cross-country datasets and India firm samples, as well as our own surveys of small and medium firms, we examine the legal and business environments, financing channels, and growth patterns of different types of firms in India. Despite the English common-law origin and a...