Infrastructure projects, given their long life, require long term financing. The main sources of long term financings are insurance and pension funds who seek long term investments with low credit risk. However, in India household financial savings are mainly invested in bank deposits. Insurance...

In early 2008 the Finance Ministry issued a consultation paper on “Requirement of Public Holding for Listing”. The Finance Minister also declared in his 2009-10 budget speech that the threshold for non-promoter public shareholding for all listed companies would be raised in a phased manner....

This paper presents a model of management resistance to takeover bids in which there is both a manager-shareholder conflict of interest due to perquisite consumption and information asymmetry. The optimal response of shareholders to such resistance is then analyzed. The paper highlights the role...