CEO compensation considerations have gained prominence in recent times, especially in the wake of the subprime turmoil. Using cross-section data on Indian manufacturing firms for 2007, the paper explores the association between executive compensation and firm performance and concludes that pay...

The paper makes a systematic attempt to ascertain the nexus between finance and growth at the sub-national level for an emerging economy. Using data on major states in India for 1973 to 2004, the analysis indicates significant regional divergences in financial outreach across states, as also in...

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...