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Productivity and Financial Structure

Author

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  • Saibal Ghosh

    (The author is presently on lien from the Reserve Bank of India, Mumbai. E-mail: saibal@gmail.com. The views expressed and the approach pursued in the paper are strictly personal.)

Abstract

The article utilizes data on high-tech Indian firms for 1996–2007 to explain the association between leverage and productivity. Accordingly, firm-level productivity measures are regressed on a set of control variables, which includes leverage among the regressors. The findings suggest that low leveraged firms tend to be more productive, on average. Robustness tests support the results.

Suggested Citation

  • Saibal Ghosh, 2009. "Productivity and Financial Structure," Global Business Review, International Management Institute, vol. 10(2), pages 261-278, July.
    • Handle: RePEc:sae:globus:v:10:y:2009:i:2:p:261-278
    DOI: 10.1177/097215090901000208
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    References listed on IDEAS

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    Cited by:

    1. Saibal Ghosh, 2011. "Disinvestment, Lending Relationships and Executive Compensation," Global Business Review, International Management Institute, vol. 12(2), pages 213-235, June.
    2. Soumya Guha Deb & Pradip Banerjee, 2015. "Equity Performance of Zero-debt Firms vis-Ã -vis Their Leveraged Counterparts," Global Business Review, International Management Institute, vol. 16(5), pages 800-811, October.
    3. Ghosh, Saibal, 2010. "The dividend strategy of Indian companies: An empirical assessment," MPRA Paper 29567, University Library of Munich, Germany.
    4. Krishna Chandra Balodi & Shubhabrata Basu, 2015. "Configurations of Resources, Strategy, Structure and Environment in Young High-technology Firms: Evidence from Qualitative Comparative Analysis," Global Business Review, International Management Institute, vol. 16(6), pages 1012-1024, December.
    5. Padmaja Mundakkad, 2018. "Firms' leverage and labour productivity: a quantile regression approach," Economics Bulletin, AccessEcon, vol. 38(4), pages 2331-2344.
    6. Vandana Bhama & P.K. Jain & Surendra S. Yadav, 2017. "Pecking Order among Select Industries from India and China," Vision, , vol. 21(1), pages 63-75, March.

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