Using state-industry data for 1981-98, the paper examines the Rajan-Zingales (1998) hypothesis at the country level. In particular, we examine whether industrial characteristics influence state-level industrial growth. The findings suggest that industries with higher fixed capital and bigger...

The study investigates the effects of activities of financial institutions (FIs). In particular, an econometric study has been undertaken to examine the ‘supply-leading’ and ‘demand-following’ characteristics of FI activities. The investigation is conducted by employing time series data...

The paper examines the impact of credit rating on capital adequacy ratios of Indian state-owned banks using quarterly data for the period 1997:1 to 2002:4. To this end, a multinomial logit model with multi credit rating indicators as dependent variable is estimated. The variables that can...

Purpose The purpose of the study is to understand the importance of corporate governance reforms for the Middle East and North Africa (MENA) country banks. To address this issue, the author combines the staggered timing of corporate governance reforms for banks across MENA countries with...

The present paper examines the cyclicality of disputes in India. Using data on manufacturing sector at the 2-digit level for the period 1964-1997, the paper finds disputes to be pro-cyclical. The pro-cyclical effect was found to be numerically large in certain cases, even after controlling for...

Banks and financial institutions play a major role in governance of non-financial companies in India through the mechanism of nominee directors. This paper probes two allied issues: firstly, the isolation of the firm specific factors which determine the presence of bank nominee directors on...

The paper utilizes data on high-tech Indian firms for 1996-2007 to explain the association between leverage and productivity. Accordingly, firm-level productivity measures are regressed on a set of control variables, which includes leverage among the regressors. The findings suggest that low...

Employing data on Indian banks for 1997-2006, we test the behavior of capital buffers over the business cycle. The evidence indicates that capital buffers exhibit pro-cyclical behavior, although the implied effects are small.

The paper investigates the performance of Indian commercial banking sector during the post reform period 1992-2004. The results indicate high levels of efficiency in costs and lower levels in profits, reflecting the importance of inefficiencies on the revenue side of banking activity. The...