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High growth firms -- characteristics
and determinants (NESTA funded)
Further details about the project will be posted
soon.
NESTA home page
Relationship between high growth firms and internationalisation
(UKTI funded)
This project will examine the relationship between internationalisation of firms and
their growth, with emphasis on high growth firms. Broadly speaking, these are firms that have an annualised growth
rate greater than 20 percent over a three year period, when growth is measured in terms of employment or turnover. Aside from
me, the project team includes, among others, Mark Hart, Yundan Gong and Yama Temouri of Aston Business School.
UKTI homepage
Productivity and its drivers in the UK and comparable
developed countries (ESRC funded)
A significant proportion of cross-country variation in GDP growth is explained
by the variation in productivity growth rate. Hence, it is important to develop an understanding about policies that raise
the trend rate of productivity growth for an economy. That in turn, requires an understanding of the cyclicality of productivity
itself and that of its determinants. Since economic downturns reduce the opportunity cost of productive resources, they provide
opportunities to implement changes that raise the aforementioned trend rate of productivity growth. The first part of
the project examined the academic literature on the cyclicality of productivity and its determinants. The second part of the
project examined the available evidence about the British government's policies regarding these determinants, especially
in the context of the most recent recession, and drew inferences about the likely trend in productivity growth (as well as
structural challenges) during the recovery. The project was undertaken in cooperation with researchers and policymakers at
the UK Department of Business Innovation and Skills.
BIS homepage | Download research paper
Impact of state-ownership of banks on privately-owned firms’ access to credit (British Academy
funded)
In this project, my co-authors and I examine the hypothesis that significant presence of state-owned
banks eases financial constraints of a wide range of firms. We do this in two parts, using firm-level panel data from
India, where public sector banks continue to overwhelmingly dominate the credit market, despite having
steadily lost market share to private sector banks since the mid 1990s. In the first of two papers, we examine
the determinants of financial constraints of firms. We employ a stochastic frontier methodology that allows
us to identify the frontier, and measure financial constraint as distance from that frontier. In the second paper, we
examine how firms' access to credit is impacted by monetary policy initiatives of the central bank.
Sample
output:
Sumon
Bhaumik, Pranab Das and Subal Kumbhakar (2011) Firm Investment and Credit Constraints in India, 1997-2006: A Stochastic
Frontier Approach. Working paper no. 1010, William Davidson Institute, University of Michigan,
Ann Arbor.
Download
Enterprise risk management in India This project extends the research
of the Conference Board on Enterprise Risk Management (ERM) in the USA to India. It uses case studies of four Indian
companies -- Tata Chemicals, Tata Motors, Dr. Reddy's and ICICI Bank -- to draw conclusions about the nature of ERM
in the Indian corporate sector. The final report, co-authored with Ellen Hexter and Matteo Tonello, has been released
in April 2008.
Enterprise performance in Lagos
The World Bank sought expert opinions on the factors that hinder growth and financial viability of firms in Lagos,
the largest non-oil industrial region of Nigeria. The basis for the opinions was firm-level data collected
by the Bank from the population of large firms, and random samples of small and medium enterprises, and informal sector
firms. Saul Estrin and I acted as consultants to the Bank. The final report was submitted to the Bank in the summer of
2006.
Market development in emerging markets - II (DfID funded)
The Department for International Development (DfID) funded project aimed
at exploring the nature of impact of institutions on market development in emerging markets. The project was managed
by Saul Estrin, and the Centre for New and Emerging Markets at London Business School served as the secretariat for the
project.
The
key question addressed in the course of the project was how local institutions in emerging markets affect entry of firms into
product markets. It also explored the impact of entry on firm-level total factor productivity. The project builds on the seminal
work of Hernando de Soto, as also on the research of Mark Roberts, James Tybout and Simeon Djankov, among others.
The empirical work was undertaken using firm-level secondary data from
the BRICS countries, namely, Brazil, Russia, India, China and South Africa, and Senegal. I was involved in the Indian
end of the project, and worked closely with the Indian team led by Shubhashis Gangopadhyay of India Development Foundation. The
project came to an end in 2005.
Sample
output:
Sumon Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2009) Entry, Reforms
and Productivity: Some Evidence from the Indian Manufacturing Sector. Review of Development Economics, 13(4): 658-672.
Sumon Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2008) Policy,
Economic Federalism, and Product Market Entry: The Indian Experience. European Journal of Development Research, 20(1):
1-30.
Sumon
Bhaumik, Shubhashis Gangopadhyay and Shagun Krishnan (2007) Entry, Reforms Complementarity and Performance: A Tale of Two
Indian Manufacturing Sectors, Economic Systems, 31(4): 375-390.
Market development in emerging markets - I (DfID funded)
The Department for International Development (DfID) funded project aimed
at exploring some aspects of the functioning of multinational enterprises in emerging markets. The project was managed by
Klaus E. Meyer and Saul Estrin, and the Centre for New and Emerging Markets at London Business School served as the secretariat
for the project.
The key question addressed in the course of the project was how local institutions in emerging markets interact
with resource requirements of the multinational enterprises in determining the choice of mode of entry of these enterprises
into the emerging markets. The importance of this choice arises from the correlation between the entry mode and factors like
technology transfer that influence the spillover effects of foreign direct investment.
Firm-level data were collected from multinational
enterprises operating in Egypt, India, South Africa and Vietnam. I was involved in the management of the project, and worked
closely with K.E. Meyer and S. Estrin, on the one hand, and with the Indian team, led by Subir Gokarn and Laveesh
Bhandari, then at the National Council of Applied Economic Research in New Delhi, on the other. The project came to an
end in 2003.
Sample output:
Klaus E. Meyer, Saul Estrin, Sumon Bhaumik and Mike Peng (2009) Institutions, Resources, and Entry Strategies
in Emerging Economies. Strategic Management Journal, 30(1): 61-80.
Sumon
Bhaumik, Saul Estrin and Klaus E. Meyer (2007) Determinants of Employment Growth at MNEs: Evidence from Egypt, India,
South Africa and Vietnam. Comparative Economic Studies, 49(1): 61-80.
Sumon Bhaumik and Stephen Gelb (2005)
Determinants of MNCs' Mode of Entry into an Emerging Market: Evidence from Egypt and South Africa. Emerging Market
Finance and Trade, 41(2):5-24.
Country
report on Bulgaria (Global Development Network funded)
The Global Development Network (GDN) sponsored by the World Bank solicited
proposals for country reports on transition economies of Central and Eastern Europe and developing countries around the world.
My proposal for Bulgaria, developed jointly with Ivona Jackimova and Alexander Shivarov of Varna University of Economics,
received a nod. The final report was submitted to GDN in 2001.
Sample output:
Sumon Bhaumik (2001) Bulgaria: Legacy, Transition and the Soft Underbelly of Macroeconomic Stability. Money
& Finance, July-September.
Report on tax administration in India (UNDP funded)
The United Nations Development Programme (UNDP) had sponsored a programme to evaluate tax
administration in India. The project was managed by the National Institute for Public Finance and Policy, New Delhi. I co-authored
the section on property tax administration in India, along with Om Prakash Mathur. The final report was submitted to the UNDP
and the Government of India in 1997.
Sample output:
Sumon Bhaumik (1998)
Property Tax: A Survey of the Problems. Asia-Pacific Tax Bulletin, vol. 4, no. 5.
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