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Productivity and Financial Structure: Evidence from Indian High-Tech Firms

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  • Ghosh, Saibal

Abstract

The paper 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

  • Ghosh, Saibal, 2009. "Productivity and Financial Structure: Evidence from Indian High-Tech Firms," MPRA Paper 19467, University Library of Munich, Germany.
    • Handle: RePEc:pra:mprapa:19467
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    File URL: https://mpra.ub.uni-muenchen.de/19467/1/MPRA_paper_19467.pdf
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    References listed on IDEAS

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    Cited by:

    1. 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.
    2. Ghosh, Saibal, 2010. "The dividend strategy of Indian companies: An empirical assessment," MPRA Paper 29567, University Library of Munich, Germany.
    3. Saibal Ghosh, 2011. "Disinvestment, Lending Relationships and Executive Compensation," Global Business Review, International Management Institute, vol. 12(2), pages 213-235, June.
    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. 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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    More about this item

    Keywords

    productivity; financial structure; leverage; India;
    All these keywords.

    JEL classification:

    • D24 - Microeconomics - - Production and Organizations - - - Production; Cost; Capital; Capital, Total Factor, and Multifactor Productivity; Capacity

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