Papers and publications (by status)

Home
Resume
Papers (by status)
Papers (by area)
Papers on India
Teaching & Training
Projects & Consultancy
Awards, Visiting Positions, Keynote Speeches etc.
Media presence

Doctoral dissertation

Food-feed competition, income distribution and welfare immiserization: A simulation analysis and the empirical evidence
Download abstract 

Research monograph/Book

FamilyFirms_BookCover.jpg

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

Journals:
[Google Scholar Citations = 2572; Scopus Citations = 822]

Note: Only working paper versions of the published papers can be downloaded from this web page, for copyright related reasons. The final versions of the papers generally have additional robustness checks for the empirical results, sometimes slightly different specifications, and sharpened texts. But the basic results and intuition are generally unchanged.

 

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).

DOI    

 

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.

DOI    

 

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.

Download working paper | DOI 

 

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, 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.

DOI  

 

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.

Download early version | DOI  

 

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.

DOI   

 

Good and Bad Institutions -- Is the Debate Over? Cross-country Firm-Level Evidence from the Textile Industry (with R. Dimova). Cambridge Journal of Economics, 38(1): 109-126, 2014. 
Download working paper | DOI  


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

Download working paper | DOI   

 

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.
Download working paper | DOI       

 

Bio-fuel Subsidies and International Trade (with S. Bandyopadhyay and H. Wall). Economics & Politics, 25(2): 181-199, 2013.
Download working paper | DOI 

Does Ownership Concentration Improve M&A Outcomes in Emerging Markets? Evidence from India (with E. Selarka). Journal of Corporate Finance, 18(4): 717-726, 2012.
Download working paper | DOI   

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.
Download working paper | DOI 

Whither Human Capital? The Woeful Tale of Transition to Tertiary Education in India (with M. Chakrabarty). Applied Economics Letters, 19(9): 835-838, 2012.
DOI 

Real Options and Demographic Decisions: Evidence from East and West Germany (with J.B. Nugent). Applied Economics, 43(21): 2739-2749, 2011. 
Download working paperDOI 

Direction of Outward FDI of EMNEs: Evidence from the Indian Pharmaceutical Sector (with N. Driffield). Thunderbird International Business Review, 53(5): 615-628, 2011.
DOI 

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.
DOI 

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.
Download working paper | DOI  

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.
Download working paper | DOI 

'Family' Ownership, Tunnelling and Earnings Management: A Review of the Literature (with A. Gregoriou). Journal of Economic Surveys, 24(4): 705-730, 2010.

Download working paper | DOI

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.

Download working paper | DOI 

Does Ownership Structure of Emerging Market Firms Affect Their 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.
Download pre-print |
DOI 

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.
Download working paperDOI  


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.

Download working paperDOI 

 

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.

DOI 

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.

Download working paperDOI


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. 

Download working paper | DOI 


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

Download working paperDOI 


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.

Download working paperDOI 


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.

DOI 

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

DOI 

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.

Download working paper | DOI 


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.

Download working paperDOI 


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.

DOI 

How Transition Paths Differ: Enterprise Performance in Russia and China (with S. Estrin). Journal of Development Economics, 82(2): 374-392, 2007.

Download working paper | DOI 


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.

DOI  

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.
Download working paper | DOI 


A Note on Poverty in Kosovo (with I.N. Gang and M.S. Yun). Journal of International Development, 18(8): 1177-1187, 2006.

Download working paper | DOI 

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.

Download working paper | DOI 

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.
DOI 

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.

Download working paper | DOI 

The Econometrics of Yield Spreads in the Money Market: A Note (with D. Coondoo). Applied Financial Economics, 13(9): 645-653, 2003.
DOI 
 

 

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.
DOI 

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.
DOI 

Edited volumes:

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. BOOK   
 
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. BOOK Peer reviewed  

 

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  Peer reviewed 

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  Peer reviewed 

Download working paper 


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


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  Peer reviewed 
DOI

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
Download working paper

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, Palgrave Macmillan, London, 2002. 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  Peer reviewed 
Download Contents and Introduction

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. Peer reviewed 

Other publications:

Educational Attainment in India: What Drives Transition? (with M. Chakrabarty). ICRA's Bulletin - Money & Finance, February: 95-112, 2013.
Download 

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. Peer reviewed  
Download 

Determinants of MNCs' Entry Modes into Emerging Markets: Some Evidence from India. ICRA's Bulletin - Money & Finance, February-July: 35-53, 2004.
Download  

The Emerging Indian Bond Market: Evolution, Problems and Prospects (with S. Bose and D. Coondoo). Journal of Global Financial Markets, Spring: 33-43, 2003.
Download

Peasant Uprisings in Bengal: A Case for Preference Falsification. Economic and Political Weekly, 37(47): 4741-4746, 2002.
DOI  

RBI's Intervention in Foreign Exchange Market: An Econometric Analysis (with H. Mukhopadhyay). Economic and Political Weekly, 35(5): 373-376, 2000.
DOI 

NPA Variation across Indian Commercial Banks: Some Findings (with I. Rajaraman and N. Bhatia). Economic and Political Weekly, 34(3/4): 161-168, 1999.
DOI 

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.

Stock Exchange Futures in India: Does the Market Justify its Use? Economic and Political Weekly, 32(41): 2608-2611, 1997.
DOI 

Has Credit Crunch Led to Industrial Stagnation: A Disequilibrium Approach (with H. Mukhopadhyay). Economic and Political Weekly, 32(18): 964-967, 1997.
DOI

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

Policy papers:

Assessing the Climate for Enterprise Risk Management in India (with E. Hexter and M. Tonello). Research Report No. E-0016-08-RR, The Conference Board, 2008.
URL    
 
Productivity and the Economic Cycle. BIS Economic Paper No. 12, UK Department of Business Innovation and Skills, March 2011.
Download 

Contribution of Trade and Investment to High Growth Firms (with K. Bonner, M. Anyadike-Danes, Y. Gong, M. Hart and Y. Temouri). Report prepared for UK Trade & Investment. 

Investment Efficiency Among a Cross-Section of UK Firms: Implications for the Debate on Financing Constraints (with K. Bonner and M. Hart). Working Paper No. 12/11, National Endowment for Science, Technology and the Arts, UK, October 2012.
Download 
 
The Relationship Between Entrepreneurial Finance and Growth (with S. Fraser and M. Wright). White Paper No. 4, Enterprise Research Centre, Aston University and University of Warwick, UK, April 2013.
Download    

Book review:

Review of "Helping Countries Develop: The Role of Fiscal Policy"; Eds. S. Gupta, B. Clements and G. Inchauste. Review of Development Economics, 10(2): 720-722.

Completed/Working papers:

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. R&R
   
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. R&R
Download 
Zhou home page   
 
Chinese Investments in the EU - What Price European Technology (with N.L. Driffield, J. Du and M. Song).
Driffield home page | Du home page | Song home page   
 
Information Costs, Institutional Distance, and Entry Mode Choice of Financial Intermediaries: Evidence from Central and Eastern Europe (with O. Owolabi and S. Pal).
R&R
Owolabi home page | Pal home page   
  
A Note on Decomposing Differences in Poverty Incidence (with I.N. Gang and M.S. Yun). Discussion paper no. 2262, IZA-Bonn, August 2006.
Gang home page | Yun home page 

Work in progress:

Financing Patterns among Start-Up Firms 
 

Global Convergence of Corporate Governance Rules -- Does it Make Sense? Evidence from Board Effectiveness in an Emerging Market Context (with M. Chakrabarty, A. Kutan and E. Selarka)

Chakrabarty home page | Kutan home page | Selarka home page     
 
Do Capital Market Reforms Affect Transactions Cost? Evidence from a VAR model of the Indian Equity Market (with M. Chakrabarty, A. Kutan and E. Selarka)
 
Do Banking Reforms Pace the way for Efficient Allocation of Bank Credit? Evidence from India (with M. Chakrabarty, A. Kutan and E. Selarka
 
Earnings Management and Corporate Governance (with A. Gregoriou)
Gregoriou home page  
 
Implications of Speed Adjustment in Capital Structure for Capital Market Development: Evidence from India (with S. Bhaduri)