According to Khanna and Palepu, India is an emerging economy where poor functioning of institutions leads to severe agency and information problems. This has led to the formation of business groups in these markets. This affiliation of firms to business groups can lead to benefits as well as...

Corporate social responsibility (CSR) and its impact on performance have generated a debate that has evolved across several perspectives (shareholder, stakeholder, resource-based, and contingency). Building on the resource-based and contingency perspectives, we shed new light on this debate by...

We extend agency theory to propose that structural reform positively impacts firm profitability in developing countries because the improvements in external monitoring that accompany structural reform decrease the agency costs faced by firms. However, we also argue that not all firms benefit...