This article examines how heterogeneous features among business groups influence the corporate diversification – firm performance relationship. The study classifies heterogeneity along three dimensions: group size, group diversity, and share ownership. Using a sample of firms from India, the...

Women constitute 48% of the population of India; yet their presence on the boards of companies has not been substantial. This paper attempts to define the pathways available to women on Indian boards. A qualitative research methodology with 15 in-depth interviews with women directors was adopted...

We adopt a multi-theoretic approach to investigate a previously unexplored phenomenon in extant literature, namely the differential impact of foreign institutional and foreign corporate shareholders on the performance of emerging market firms. We show that the previously documented positive...

This study examines the phenomenon of profit redistribution among group-affiliated firms and relates it with corporate performance. It finds that group-affiliated firms perform poorly relative to independent firms. More importantly, the study documents the possibility of inefficient profit...

We adopt a multi-theoretic approach to investigate a previously unexplored phenomenon in extant literature, namely the differential impact of foreign institutional and foreign corporate shareholders on the performance of emerging market firms. We show that the previously documented positive...

A controversy exists on the use of the investment ndash; cash flow sensitivity as a measure of financing constraints of firms. We re-examine this controversy by analyzing firms affiliated to Indian business groups. We find a strong investment ndash; cash flow sensitivity for both...