We construct a Corporate Governance Index for 500 large listed Indian firms for the period from 2003 to 2008 in this paper. The index construction uses information on four important corporate governance mechanisms: the board of directors, the ownership structure, the audit committee, and the...

Distance-to-default (DtD) from the Merton model has been used in the credit risk literature, most successfully as an input into reduced form models for forecasting default. In this paper, we suggest that the change in the DtD is informative for predicting change in the credit rating. This is...

This paper examines transactions costs in buying versus selling using a large database of snapshots of the limit order book. On the equity spot market, there is clear evidence of asymmetry in liquidity: transactions costs are lower for buy market orders when compared with sell market orders. In...

This paper estimates returns to education in India using a nationally representative survey. We estimate the standard Mincerian wage equation separately for rural and urban sectors. To account for the possibility of sample selection bias, Heckman two-step procedure is used. The findings indicate...

Management of hunger has to look into issues of availability, accessibility and adequacy. Posing it from an ethical perspective the paper argues out in favour of right to food. But, for this to happen, the state has to come up with an appropriate and effective bill on food and nutrition...

In this paper we endogenize the objective functions of the regions as well as their decision to provide public investment in a model of competition for foreign owned mobile capital. We demonstrate that the competing regions can `restrict race-to-the-bottom' in tax rates by deviating away from...

In a recent work Nathan and Reddy (2011a) have proposed a Multi-view Black-box (MVBB) framework for development of sustainable development indicators (SDIs) for an urban setup. The framework is flexible to be applied to any domain or sector of urban system. In this paper the proposed MVBB...

The initiation of Cross-Line of Control (LoC) trade across Jammu and Kashmir in October 2008 signaled the beginning of a new era. It was 61 years ago in 1947 that trade across line of control had stopped. The initiative has received support from business community since its start despite...

We provide estimates of workers residing in rural (urban) India and commuting to urban (rural) areas for work. The estimates are based on National Sample Survey Organisation's survey of Employment and Unemployment (2009-10). In 2009-10, a total number of 8.05 million workers not engaged in...

An SIIO paradigm, based on structure and ideas that become engraved in institutions and affect outcomes, is developed to examine and assesses monetary policy in India after independence. Narrative history, data analysis, and reporting of research demonstrate the dialectic between ideas and...