In this paper, we study whether firms belonging to business groups (BG) have superior operating performance relative to stand-alone firms during the ongoing COVID-19 (COVID) pandemic. Our research is motivated by mixed empirical evidence on the performance of BG-affiliated firms. Using return on...

A Managerial Ability (MA) Score for Indian firms is estimated using publicly-available accounting data. Firm efficiency, and later managerial ability, is estimated following alternative methodologies, and results compared. A two-step estimation process computes managerial ability: calculating...

We examine the announcement returns of acquisitions made by Indian firms during the period 1995 to 2011. Our results confirm that the announcement returns to Indian acquirers are on average significantly positive. However, we are first to document that the announcement returns to Indian...

We examine the announcement returns of acquisitions made by Indian firms during the period 1995–2011. Our results confirm that the announcement returns to Indian acquirers are on average significantly positive. However, we are first to document that the announcement returns to Indian acquirers...

This paper examines the firm characteristics typically preferred by institutional investors before investing in a stock in the Indian equity market, and also explores the implications of such preferences in terms of their subsequent performance. We find that all institutional investors show...

Researchers have always questioned the rationale for stock splits. Some have attributed the existence of stock split to a manager’s desire of increasing the liquidity of the stock. Others have argued that the split is a mechanism by which managers can signal to the market the expectations...