Purpose: The purpose of this paper is to investigate investor behavior under two broad categories, market-wide sentiment and herding. Design/methodology/approach: Using a dynamic factor model, that extracts distinct latent factors representing fluctuations in asset returns due to changes in...

This paper presents a switching regression model of investment decision where the probability of a firm facing financial constraint is endogenously determined. The approach, therefore, obviates the use of a priori criteria to exogenously identify the financially constrained firms, and thereby...

This paper investigates the relationship between debt ownership structure and firm-specific characteristics in the Indian economy. As an emerging economy, India operates in an environment of more market inefficiencies and institutional constraints than occurs in industrialized economies. Despite...

The study investigate the relationship between debt ownership structure and various firm specific characteristics suggested by recent theories for an emerging economy, India, which is a unique hybrid of a market-based and a bank-oriented system. Bank debt use, which is also the predominant...

Most of the existing empirical research on capital structure has been largely confined to the United States and a few other advanced countries. This paper provides evidence on the capital structure choice of a Less Developed Country, India, which is a unique hybrid of market-based systems of the...

Since 1992, significant structural changes in the Indian capital market, particularly in the equity market, have enhanced the Indian firms' flexibility in choosing their capital structure optimally. Thus in response to such reform led changes in the relative cost of external finance (debt and...

The present book provides an enterprise-wide guide for anyone interested in pursuing analytic methods in order to compete effectively. It supplements more general texts on statistics and data mining by providing an introduction from leading practitioners in business analytics and real case...

The article studies the determinants of two important decisions for the Indian firms—dividend and investment. In contrast to the Miller and Modigliani (1961) model, in which dividend decision is separable from its investment decision, the article finds evidence to support the argument...