Papers and publications (by area)

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Banking & Finance:

Published/Completed 

 

How Successful are Banking Sector Reforms in Emerging Market Economies? Evidence from the Impact of Monetary on Levels and Structure of Firm Debt in India (with A. Kutan and S. Majumdar). Discussion paper no. 9992, IZA-Bonn, June 2016.

 

The Informative Role of Trading Volume in an Expanding Spot and Futures Market (with A. Kartsaklas and M. Karanasos). Journal of Multinational Financial Management, 34: 24-40, 2016.

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A Semiparametric Approach to Estimating Financing Constraints in Firms (with S.C. Kumbhakar and K. Sun), European Journal of Finance, 21(12): 992-1004, 2015.
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What do We Know About Entrepreneurial Finance and its Relationship with Growth? (with S. Fraser and M. Wright). International Small Business Journal, 33(1): 70-88, 2015.

 

Directional Mobility of Debt Ratings (with J. Landon-Lane). Borsa Istanbul Review, 13(4): 67-78, 2013.

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Does Ownership Concentration Improve M&A Outcomes in Emerging Markets? Evidence from India (with E. Selarka). Journal of Corporate Finance, 18: 717-726, 2012.
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A Stochastic Frontier Approach to Modelling Financial Constraints in Firms: An Application to India (with P. Das and S.C. Kumbhakar). Journal of Banking and Finance, 36(5): 1311-1319, 2012.
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Implications of Bank Ownership for the Credit Channel of Monetary Policy Transmission: Evidence from India (from V. Dang and A. Kutan). Journal of Banking and Finance, 35(9): 2418-2428, 2011.
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Stock Market Volatility and Market Risk in Emerging Markets: Evidence from India (with S. Bose and R. Sensarma). In: G.N. Gregoriou (Ed.) Stock Market Volatility, Chapman Hall-CRC/Taylor and Francis, London, 2009. BOOK


Impact of Derivatives Trading on Emerging Stock Markets: Some Evidence from India (with S. Bose). Comparative Economic Studies, 51(1): 118-137, 2009.

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Does Lending Behaviour of Banks in Emerging Economies Vary by Ownership? Evidence from the Indian Banking Sector (with J. Piesse). Economic Systems, 32(2): 177-196, 2008.  
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The Econometrics of Yield Spreads in the Money Market: A Note (with D. Coondoo). Applied Financial Economics, 13(9): 645-653, 2003.

The Emerging Indian Bond Market: Evolution, Problems and Prospects (with S. Bose and D. Coondoo). Journal of Global Financial Markets, Spring 2003, 33-43.
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The Indian Banking Industry: A Commentary (with P. Mukherjee). In: P. Banerjee and F.J. Richter (eds.) Economic Institutions in India: Sustainability Under Liberalization and Globalization, Macmillan, London, 2002. BOOK 

 

Liberalization vs. Regulations: Some Lessons for Financial Restructuring. Journal of Transforming Economies and Societies, 3(2): 2-14, 1996.

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Work in progress
 

 

Transactions Cost and Structural Reforms in the Indian Capital Market (with M. Chakrabarty, A. Kutan and E. Selarka)
 

Financing Patterns among Start-up Firms 

 

The Impact of Monetary Policy on Capital Structure of Firms: Evidence from India (with A. Kutan and S. Majumdar) 
Kutan home page  

Ownership, Market Structure, Institutions & Firm Performance:

Published/Completed

 

Is Tinkering with Institutional Quality a Panacea for Firm Performance? Insights from a Semiparametric Approach to Modelling Firm Performance (with R. Dimova, S.C. Kumbhakar and K. Sun). Review of Development Economics (forthcoming).


Ownership Identity, Strategy and Performance: Business Group Affiliates versus Independent Firms in India (with S. Estrin and T. Mickiewicz). Asia Pacific Journal of Management (forthcoming).  

 

More is Better! What can Firm-Specific Estimates of the Impact of Institutional Quality on Performance Tell Us? (with R. Dimova, S.C. Kumbhakar and K. Sun). Discussion paper no. 7886, IZA-Bonn, January 2014.
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Dimova home page | Kumbhakar home page | Sun home page    

 

How Family Firms Differ: Structure, Strategy, Governance and Performance (with R. Dimova). Palgrave Macmillan, 2014. 

 
Do Business Groups Help or Hinder Technological Progress in Emerging Markets? Evidence from India (with Y. Zhou). Discussion paper no. 7885, IZA-Bonn, January 2014.
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Zhou home page   


Good and Bad Institutions -- Is the Debate Over? Cross-country Firm-Level Evidence from the Textile Industry (with R. Dimova). Cambridge Journal of Economics (forthcoming). 
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'Family' Ownership, Tunnelling and Earnings Management: A Review of the Literature (with A. Gregoriou). Journal of Economic Surveys, 24(4): 705-730, 2010.
 

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Is the Post-reform Growth of the Indian Manufacturing Sector Efficiency Driven? Empirical Evidence from Plant Level Data (with S. Kumbhakar). Journal of Asian Economics, 21(2): 219-232, 2010. 
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Reforms and Entry: Some Evidence from the Indian Manufacturing Sector (with S. Gangopadhyay and S. Krishnan). Review of Development Economics, 13(4): 658-672, 2009.

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Policy, Economic Federalism, and Product Market Entry: The Indian Experience (with S. Gangopadhyay and S. Krishnan). European Journal of Development Research, 20(1): 1-30, 2008.
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Entry, Reforms Complementarity and Performance: A Tale of Two Indian Manufacturing Sectors (with S. Gangopadhyay and S. Krishnan). Economic Systems, 31(4): 375-390, 2007.


How Transition Paths Differ: Enterprise Performance in Russia and China (with S. Estrin). Journal of Development Economics, 82(2): 374-392, 2007.
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How Important is Ownership in a Market with a Level Playing Field: The Indian Banking Sector Revisited (with R. Dimova). Journal of Comparative Economics, 32(1): 165-180, 2004.

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Exit the State, Enter ...... Hausbanks?: A Critique of the Privatization Process in Bulgaria (with I. Jackimova and D. Kelleher). In: M. Gupta and J. Ray (eds.) Themes on Development Economics, Allied Publishers, 2000.  


Does Ownership Always Matter?: Evidence from the Indian Banking Sector (with J. Sarkar and S. Sarkar). Journal of Comparative Economics, 26(2): 262-281, 1998.


Deregulation and the Limits to Banking Market Competition: Some Insights from India (with J. Sarkar). International Journal of Development Banking, 16(2): 29-42, 1998.

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Work in progress

Earnings Management and Corporate Governance (with A. Gregoriou)
Gregoriou home page  
 
Type II Agency Conflict and Corporate Governance in Indian Firms (with M. Chakrabarty, A. Kutan and E. Selarka)

Chakrabarty home page | Kutan home page | Selarka home page  

International Business:

Published/Completed 

 

A Strategic Perspective of Cross-listing by Emerging Market Firms: Evidence from Indonesia, Mexico, Poland and South Africa (with Y. Temouri and N.L. Driffield). Journal of International Management, 22(3): 265-279, 2016.

 

Future Outlook for Indian Multinationals. In: M. Thite, A. Wilkinson and P. Budhwars (Eds.) Indian Multinationals: Taking India to the World, Oxford University Press, New Delhi, 2016.  

 

Country Specific Advantage, Firm Specific Advantage and Multinationality - Sources of Competitive Advantage in Emerging Markets: Evidence from the Electronics Industry in China (with N.L. Driffield and Y. Zhou). International Business Review, 25(1A): 165-176, 2016. 

 

Sources of Competitiveness and Multinationality: Emerging Market Firms in the Electronics Industry (with N.L. Driffield and Y. Zhou). In: L. Tiyanhi, E. Banalieva, T.M. Devenney and T. Pedersen (Eds.) Advances in International Management, Vol. 28: Emerging Economies and Multinational Enterprises, Emerald, 2015.  

 

Does Human Capital Endowment of FDI Recipient Countries Really Matter? Evidence from Cross-country Firm Level Data (with R. Dimova). Review of Development Economics, 17(3): 559-570, 2013.
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The Extent and Impact of Outsourcing: Evidence from Germany (with C. Aubochon and S. Bandyopadhyay). Federal Reserve Bank of St. Louis Review, July/August: 287-304, 2012.
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Direction of Outward FDI of EMNEs: Evidence from the Indian Pharmaceutical Sector (with N. Driffield). Thunderbird International Business Review, 53(5): 615-628, 2011.

China's Economic Cooperation Related Investment: An Investigation of its Direction and Some Implications for Outward Investment (with C.Y. Co). 
China Economic Review, 22(1): 75-87, 2011.

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Does Ownership Structure Affect Outward FDI? The Case of Indian Automotive and Pharmaceutical Sectors (with N. Driffield and S. Pal).
Journal of International Business Studies, 41: 437-450, 2010.


Economic Reforms as a Tool to Attract Foreign Direct Investment: Is it a Chimera? (with R. Dimova).
Applied Economics Letters, 16(9): 951-957, 2009.

 

Institutions, Resources, and Entry Strategies in Emerging Economies (with S. Estrin, K.E. Meyer and M. Peng). Strategic Management Journal, 30(1): 61-80, 2009.

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Determinants of Employment Growth at MNEs: Evidence from Egypt, India, South Africa and Vietnam (with S. Estrin and K.E. Meyer). Comparative Economic Studies, 49(1): 61-80, 2007.
 
Determinants of MNCs' Mode of Entry into an Emerging Market: Evidence from Egypt and South Africa (with S. Gelb).
Emerging Market Finance and Trade, 41(2): 5-24, 2005. 

Foreign Direct Investment: A Brief Overview of the Micro Issues. In: H.S. Kehal (ed.)
Foreign Investment in Rapidly Growing Countries, Palgrave Macmillan, Basingstoke, 2005. BOOK    

Foreign Direct Investment in India (with P.L. Beena et al.). In: S. Estrin and K.E. Meyer (eds.)
Investment Strategies in Emerging Markets, Edward Elgar, Cheltenham, 2004. BOOK
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Determinants of MNCs' Entry Modes into Emerging Markets: Some Evidence from India. ICRA's Bulletin - Money & Finance, February-July: 35-53, 2004.
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Work in progress
  
 
None at the moment.

Development & Labour Economics:

Published/Completed 

 

Is Women's Ownership of Land a Panacea in Developing Countries? Evidence from Land-owning Farm Households in Malawi (with R. Dimova and I.N. Gang). Journal of Development Studies, 52(2): 242-253.

Does Human Capital Endowment of FDI Recipient Countries Really Matter? Evidence from Cross-country Firm Level Data (with R. Dimova). Review of Development Economics, 17(3): 559-570, 2013.
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Bio-fuel Subsidies and International Trade (with S. Bandyopadhyay and H. Wall). Economics & Politics, 25(2): 181-199, 2013.
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Educational Attainment in India: What Drives Transition? (with M. Chakrabarty). ICRA's Bulletin - Money & Finance, February: 95-112, 2013.
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Whither Human Capital? The Woeful Tale of Transition to Tertiary Education in India (with M. Chakrabarty). Applied Economics Letters, 19(9): 835-838, 2012.

Gender and Ethnicity in Post-conflict Kosovo (with I.N. Gang and M.S. Yun). In: W. Naudé, A.U. Santos-Paulino and M. McGillivray (Eds.), Fragile States: Causes, Costs, and Responses, Oxford University Press, New York, 2011. BOOK

Off-farm Labour Supply and Labour Markets in Rapidly Changing Circumstances: Bulgaria during Transition (with R. Dimova and J.B. Nugent). Economic Systems, 35(3): 378-389, 2011.


Earnings Inequality in India: Has the Rise of Caste and Religion Based Politics in India had an Impact? (with M. Chakrabarty). In: A. Shariff and R. Basant (Eds.) Handbook of Muslims in India, Oxford University Press, New Delhi, 2009.  BOOK 

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Earnings Differerences between Chinese and Indian Wage Earners, 1987-2004 (with O. Bargain, M. Chakrabarty and Z. Zhao). Review of Income and Wealth, 55: 562-587, 2009.

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Rationality as a Barrier to Peace: Micro-evidence from Kosovo (with I.N. Gang and M.S. Yun). Comparative Economic Studies, 51(2): 242-264, 2009.

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Is Education the Panacea for Economic Deprivation of Muslims? Evidence from Wage Earners in India, 1987-2004 (with M. Chakrabarty). Journal of Asian Economics, 20(2): 137-149, 2009.

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Does Move to Market have an Impact on Earnings Gap across Gender? Some Evidence from India (with M. Chakrabarty). Applied Economics Letters, 15(8): 601-605, 2008.


Interaction Between Formal and Informal Sector Credit: New Evidence from India. Applied Economics Letters, 15(7): 527-531, 2008.  


Ethnic Conflict and Economic Disparity: Serbians and Albanians in Kosovo (with I.N. Gang and M.S. Yun). Journal of Comparative Economics, 34(4): 754-773, 2006.
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A Note on Decomposing Differences in Poverty Incidence (with I.N. Gang and M.S. Yun). Discussion paper no. 2262, IZA-Bonn, August 2006. 


A Note on Poverty in Kosovo (with I.N. Gang and M.S. Yun). Journal of International Development, 18(8): 1177-1187, 2006.
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Does the World Bank have any Impact on Human Development in the Poorest Countries? Some Preliminary Evidence from Africa. Economic Systems, 29(4): 422-432, 2005.
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An Analysis of Food Demand in Peru: Implications for Food-Feed Competition (with J.B. Nugent). Review of Development Economics, 3(3):242-257, 1999. 

Work in progress

 

None at the moment. 

Household Economics:

Published/Completed 

Real Options and Demographic Decisions: Evidence from East and West Germany (with J.B. Nugent). Applied Economics, 43(21): 2739-2749, 2011.
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Demographic Events and Timing of Monetary Transfers: Some Evidence from Germany. In: A. Gauthier, S. Tuljapurkar and C. Chu (Eds.) Riding the Age Waves: Allocating Public and Private Resources Across Generations, Kluwer, 2006.
BOOK

Wealth Accumulation, Fertility and Transfers to Elderly Heads in Peru (with J.B. Nugent). In: A. Mason and G. Tapinos (eds.) Sharing the Wealth, Oxford University Press, New York, 2000.
BOOK
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