Using data on 2-digit industry for 1981-2004, the study examines the association between growth in total factor productivity and economic reforms. Accordingly, we first compute industry-level productivity growth using advanced econometric techniques and thereafter ascertain the time frame over...

We employ data on federal government-owned public enterprises since the 1980s that encompass the partial privatization program to examine its impact on a gamut of performance measures. The analysis indicates that fully government-owned firms are significantly less profitable than partially...

The paper uses firms across different ownership categories to examine the factors influencing dividend policy. The results suggest that bigger, mature and low-leveraged firms tend to pay more dividends. As well, the findings suggest that bigger, less profitable and high-leveraged firms are more...

Using data on a sample of Indian firms from 1996-2006, we examine the effect of group affiliation on firm performance. After controlling for the differences in firm size, growth opportunities and leverage, the findings indicate that group affiliation exerts a salutary impact on firm performance,...

Using data on Indian state-owned banks for 1997-2007, the article tests the relationship between financial inclusion and financial fragility. The findings reveal that these variables are intertwined, with each tending to reinforce the other. More importantly, financial fragility is a non-linear...