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Partial Privatization And Firm Performance Evidence From India
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Book Synopsis Partial Privatization and Firm Performance by : Nandini Gupta
Download or read book Partial Privatization and Firm Performance written by Nandini Gupta and published by . This book was released on 2018 with total page 31 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization in India is mostly limited to the diffuse sale of minority stakes in firms. Since control rights have not been transferred to private owners it is widely contended that the process has had little impact on firm behavior. We find however that even the sale of minority stakes has a positive impact on firm performance and productivity. As the government remains the controlling owner in these firms, we infer that the improvement is attributable to the role of the stock market in monitoring managerial performance rather than to a change in owners' objectives. Consistent with this interpretation, we find that improvements in earnings are due to an increase in the productivity of labor rather than layoffs. Partial privatization continues to affect the sales and operating efficiency of firms when we control for competitive conditions, and the evidence also suggests that privatization and competition have a complementary impact on firm performance.
Book Synopsis Partial Privatization and Firm Performance by : Nandini Gupta
Download or read book Partial Privatization and Firm Performance written by Nandini Gupta and published by . This book was released on 2014 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Most privatization programs begin with a period of partial privatization in which only non-controlling shares of firms are sold on the stock market. Since management control is not transferred to private owners it is widely contended that partial privatization has little impact on firm behavior. This perspective ignores the role that the stock market can play in monitoring and rewarding managerial performance even when the government remains the controlling owner. Using data on the population of Indian state-owned enterprises we find that partial privatization has a positive and highly significant impact on firm sales, profits, and labor productivity.
Book Synopsis Partial Privatization and Firm Performance: Evidence from India by : Nandini Gupta
Download or read book Partial Privatization and Firm Performance: Evidence from India written by Nandini Gupta and published by . This book was released on 2001 with total page 33 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Download or read book Privatization written by Gérard Roland and published by Columbia University Press. This book was released on 2008 with total page 257 pages. Available in PDF, EPUB and Kindle. Book excerpt: The privatization of large state-owned enterprises is one of the most radical policy developments of the last quarter century. Right-wing governments have privatized in an effort to decrease the size of government, while left-wing governments have privatized either to compensate for the failures of state-owned firms or to generate revenues. In this way, privatization has spread from Europe to Latin America, from Asia to Africa, reaching its zenith with Central and Eastern Europe's transition from socialism to capitalism. In many countries state ownership has been an important tool in bringing cheap water, energy, and transport to poorer segments of the population. In other instances, it has sponsored aggressive cutbacks, corruption, and cronyism. Privatization: Successes and Failures evaluates the practices and results of privatization in Eastern Europe, Africa, Latin America, and Asia. Featuring the world's leading economists and experts on privatization, this volume offers a broad and balanced analysis of specific privatization projects and uncovers some surprising trends. Partial privatization, for example, tends to be more widespread than one might think, and the effects of privatization on efficiency are generally mixed but rarely negative. Also, while privatization appears uncontroversial in competitive sectors, it becomes increasingly complex in more monopolistic sectors where good regulation is crucial. Privatization concludes with alternative frameworks for countries in Africa and other regions that seek to develop privatization policy and programs.
Book Synopsis Limits to Privatization by : Marianne Beishem
Download or read book Limits to Privatization written by Marianne Beishem and published by Taylor & Francis. This book was released on 2012-04-27 with total page 430 pages. Available in PDF, EPUB and Kindle. Book excerpt: Limits to Privatization is the first thorough audit of privatizations from around the world. It outlines the historical emergence of globalization and liberalization, and from analyses of over 50 case studies of best- and worst-case experiences of privatization, it provides guidance for policy and action that will restore and maintain the right balance between the powers and responsibilities of the state, the private sector and the increasingly important role of civil society. The result is a book of major importance that challenges one of the orthodoxies of our day and provides a benchmark for future debate.
Book Synopsis The World Bank Research Observer by :
Download or read book The World Bank Research Observer written by and published by . This book was released on 2003 with total page 300 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Multidisciplinary Perspectives Towards Building a Digitally Competent Society by : Bansal, Sanjeev
Download or read book Multidisciplinary Perspectives Towards Building a Digitally Competent Society written by Bansal, Sanjeev and published by IGI Global. This book was released on 2022-06-17 with total page 338 pages. Available in PDF, EPUB and Kindle. Book excerpt: The world is undergoing a transformation as technology enters every ecosystem. Subsequently, there is a need to develop higher-order digital skills to ensure one's employability as professionals need to build digital competencies to remain competitive in the current work environment. Additionally, businesses must also continue to update their digital practices in order to remain relevant. Multidisciplinary Perspectives Towards Building a Digitally Competent Society explores multidisciplinary perspectives towards building a more digitally competent society, considers new business models and the need for organizations and individuals to develop the right mindset to embrace digitalization, and discusses how social capital can become a key driver in crafting a whole new digitally competent social fabric. Covering topics such as technological transformation, social media, and corporate social responsibility, this reference work is ideal for corporate practitioners, business owners, policymakers, scholars, researchers, practitioners, instructors, and students.
Book Synopsis operational research and its appications by :
Download or read book operational research and its appications written by and published by Allied Publishers. This book was released on with total page 340 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis Privatisation in India by : Sudhir Naib
Download or read book Privatisation in India written by Sudhir Naib and published by Routledge. This book was released on 2022-01-13 with total page 126 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book is a comprehensive work which incisively analyses, from a theoretically informed perspective, crucial aspects of India’s journey from partial divestiture to privatisation, accompanied by case studies of enterprises being privatised in FY 2022. Naib begins with the economic role of the state followed by theoretical and empirical evidence on the state versus private ownership in the first two chapters. Next, an overview of public sector in India including the New Public Sector Enterprise Policy for Atmanirbhar Bharat-2021 is discussed, before a broader examination of the global experience with privatisation is done. Naib then goes on to explore India’s journey from partial divestiture to privatisation from 1991 to 2021 in four time slots based on the political party in power. The book also looks at big ticket privatisation and asset monetisation proposed in FY 2022. Many criticised the design of National Monetisation Plan as it may lead to concentration of wealth, increasing inequalities, asset stripping, and consumers paying higher charges. The book closes by presenting six instances of big-ticket privatisations ranging from airlines, airports, banks, insurance, as well as industries such as petroleum and telecoms. The book’s timely data and analysis of key developments will interest researchers in the fields of divestiture and privatisation in India.
Book Synopsis Reforming Infrastructure by : Ioannis Nicolaos Kessides
Download or read book Reforming Infrastructure written by Ioannis Nicolaos Kessides and published by World Bank Publications. This book was released on 2004 with total page 328 pages. Available in PDF, EPUB and Kindle. Book excerpt: Electricity, natural gas, telecommunications, railways, and water supply, are often vertically and horizontally integrated state monopolies. This results in weak services, especially in developing and transition economies, and for poor people. Common problems include low productivity, high costs, bad quality, insufficient revenue, and investment shortfalls. Many countries over the past two decades have restructured, privatized and regulated their infrastructure. This report identifies the challenges involved in this massive policy redirection. It also assesses the outcomes of these changes, as well as their distributional consequences for poor households and other disadvantaged groups. It recommends directions for future reforms and research to improve infrastructure performance, identifying pricing policies that strike a balance between economic efficiency and social equity, suggesting rules governing access to bottleneck infrastructure facilities, and proposing ways to increase poor people's access to these crucial services.
Book Synopsis Corporate Governance in India by : Arindam Das
Download or read book Corporate Governance in India written by Arindam Das and published by Routledge. This book was released on 2019-08-09 with total page 136 pages. Available in PDF, EPUB and Kindle. Book excerpt: This book looks at how we can promote better governance practices in business organizations of developing economies. It presents a mix of conceptual perspectives and observations on corporate governance practices in a concise manner and illustrates through empirical evidence drawn from the Indian business environment. The secondary data analysis provides insights into Indian firms' corporate governance practices. This book is a useful reference for anyone who wishes to identify leading practices and develop broad recommendations applicable to corporate governance practices in developing economies in general.
Download or read book India written by Arvind Panagariya and published by Oxford University Press. This book was released on 2010-04-30 with total page 545 pages. Available in PDF, EPUB and Kindle. Book excerpt: India is not only the world's largest and fiercely independent democracy, but also an emerging economic giant. But to date there has been no comprehensive account of India's remarkable growth or the role policy has played in fueling this expansion. India: The Emerging Giant fills this gap, shedding light on one of the most successful experiments in economic development in modern history. Why did the early promise of the Indian economy not materialize and what led to its eventual turnaround? What policy initiatives have been undertaken in the last twenty years and how do they relate to the upward shift in the growth rate? What must be done to push the growth rate to double-digit levels? To answer these crucial questions, Arvind Panagariya offers a brilliant analysis of India's economy over the last fifty years--from the promising start in the 1950s, to the near debacle of the 1970s (when India came to be regarded as a "basket case"), to the phenomenal about face of the last two decades. The author illuminates the ways that government policies have promoted economic growth (or, in the case of Indira Gandhi's policies, economic stagnation), and offers insightful discussions of such key topics as poverty and inequality, tax reform, telecommunications (perhaps the single most important success story), agriculture and transportation, and the government's role in health, education, and sanitation. The dramatic change in the fortunes of 1.1 billion people has, not surprisingly, generated tremendous interest in the economy of India. Arvind Panagariya offers the first major account of how this has come about and what more India must do to sustain its rapid growth and alleviate poverty. It will be must reading for everyone interested in modern India, foreign affairs, or the world economy.
Book Synopsis Privatization in Latin America by : Alberto Chong
Download or read book Privatization in Latin America written by Alberto Chong and published by World Bank Publications. This book was released on 2005-03-15 with total page 526 pages. Available in PDF, EPUB and Kindle. Book excerpt: Privatization is under attack. Beginning in the 1980s, thousands of failing state-owned enterprises worldwide have been turned over to the private sector. But public opinion has turned against privatization. A large political backlash has been brewing for some time, infused by accusations of corruption, abuse of market power, and neglect of the poor. What is the real record of privatization and are the criticisms justified? 'Privatization in Latin America' evaluates the empirical evidence on privatization in a region that has witnessed an extensive decline in the state's share of production over the past 20 years. The book is a compilation of recent studies that provide a comprehensive analysis of the record of and accusations against privatization, with important recommendations for the future. Seven countries are investigated: Argentina, Bolivia, Brazil, Chile, Colombia, Mexico, and Peru. This book will be vital to anyone interested in the privatization debate but especially to those involved in civil service reform, corporate governance, economic policy, finance, and anticorruption efforts. 'Privatization is important but controversial. While economists typically favor it, others are skeptical. This book provides strong scientific evidence that privatization has been beneficial for many Latin American countries, although some privatizations failed and some groups in society lost out. As usual, the devil is in the details: how privatization is carried out and what reforms accompany it are crucial to its success. The book is definitely an invaluable contribution to the privatization debate.' --Oliver Hart, Andrew E. Furer Professor of Economics, Harvard University
Download or read book PACIFIC-BASIN FINANCE JOURNAL written by and published by . This book was released on 2004 with total page 664 pages. Available in PDF, EPUB and Kindle. Book excerpt:
Book Synopsis India’s Financial System by : Mr. Alfred Schipke
Download or read book India’s Financial System written by Mr. Alfred Schipke and published by International Monetary Fund. This book was released on 2023-07-06 with total page 290 pages. Available in PDF, EPUB and Kindle. Book excerpt: India has experienced a prolonged period of strong economic growth since it embarked on major structural reforms and economic liberalization in 1991, with real GDP growth averaging about 6.6 percent during 1991–2019. Millions have been lifted out of poverty. With a population of 1.4 billion and about 7 percent of the world economic output (in purchasing power parity terms), India is the third largest economy—after the US and China. As such, developments in India have significant global and regional implications, including via spillovers through international trade and global supply chains. At the same time, India’s economic development has not been linear and has been impacted by external and domestic shocks, some directly related to the financial sector. Indeed, India was not spared from external regional and global shocks, such as the Asian financial crisis (1997), the global financial crisis (2008), and more recently, the devastating impact of the COVID-19 pandemic (from 2020) and the war in Ukraine (2022). The economy has also been hit by domestic shocks. The book covers how to strengthen the financial system to support growth and reduce vulnerabilities by discussing the linkages between the financial sector and growth, improvements in bank lending to foster productivity, and measures to further develop India’s corporate bond market. The book reflects on India’s success in leveraging digitalization to foster financial inclusion and highlights how the financial system can help to address climate issues. This book digs deeper into the various facets of India’s financial sector to understand its strengths and opportunities and to elicit policy actions that could help the financial sector better support India’s growth potential.
Download or read book Financing Firms in India written by and published by World Bank Publications. This book was released on 2006 with total page 67 pages. Available in PDF, EPUB and Kindle. Book excerpt: "The authors examine the legal and business environments, financing channels, and governance mechanisms of various types of firms in India and compare them to those from other countries. Despite its English commonlaw origin, strong legal protection provided by the law, and a democratic government, corruption within India's legal system and government significantly weakens investor protection in practice. External financing of firms has been dominated by nonmarket sources of financing, while the characteristics of listed firms are similar to those from countries with weak investor protection. The evidence, including results based on a survey of small and medium-scale private firms, shows that alternative financing channels provide the most important source of funds. The authors also find that informal governance mechanisms, such as those based on reputation, trust, and relationships are more important than formal mechanisms (such as courts) in resolving disputes, overcoming corruption, and supporting growth. "--World Bank web site.
Book Synopsis Public Sector Enterprises in India by : P.K. Jain
Download or read book Public Sector Enterprises in India written by P.K. Jain and published by Springer. This book was released on 2014-06-05 with total page 403 pages. Available in PDF, EPUB and Kindle. Book excerpt: The book examines the various aspects of non-financial central public sector enterprises (PSEs) in India, for a period from 1986-87 to 2010-11. The analysis is based on all the key financial ratios; namely, profitability, efficiency, liquidity, leverage and productivity. Liberalization and globalization have caused competition in India and have lowered the profit margins. At the same time, Indian government has reduced subsidies and budgetary support for PSEs to curtail their own fiscal deficit. Strategic and economic reforms were also introduced in PSEs to make their operations commercially profitable so that they are not dependent on the government to meet their financial requirements on the one hand, and have their own earnings to finance their expansion/modernization requirements as well as their social obligations, on the other. To what extent, the PSEs have succeeded in this objective constitutes one major aspect of the present research work. The other equally important aspect examined is financial performance of the PSEs which have opted for disinvestment and have signed memorandum of understanding (MoU)/ self obligations. The Indian Government has desired the central PSEs to be profitable in their operations in post-liberation era of 1990s. For this purpose, two major instruments, namely, disinvestment and MoUs, were introduced. This book examines, in detail, financial performance of PSEs which had opted for disinvestment and have signed MoU. Based on analysis/ findings and literature on the subject, the book contains some concrete suggestions that would prove extremely helpful to Indian Government to further improve their financial performance.
