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Pro-market reforms and allocation of capital in India
Indiana University, Bloomington, Indiana, USA.
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
Jönköping University, Jönköping International Business School, JIBS, Economics, Finance and Statistics.
2011 (English)In: Journal of Financial Economic Policy, ISSN 1757-6385, E-ISSN 1757-6393, Vol. 3, no 2, p. 123-139Article in journal (Refereed) Published
Abstract [en]

Purpose – The purpose of this paper is to study the efficiency of capital allocation, across levels of ownership, in the aftermath of pro-market reforms in India.

Design/methodology/approach – The paper measures investment efficiency using the accelerator principle and examines the effect of ownership type on capital allocation.

Findings – No significant improvement in capital allocation during the period studied is found. The findings suggest firms face significant costs in adjusting their capital stock.

Originality/value – The paper uses unique data to estimate the elasticity of capital with respect to output.

Place, publisher, year, edition, pages
Emerald Group Publishing Limited, 2011. Vol. 3, no 2, p. 123-139
Keywords [en]
Capital, cost allocation, economci reform, corporate ownership, India
National Category
Economics
Identifiers
URN: urn:nbn:se:hj:diva-17478DOI: 10.1108/17576381111133606OAI: oai:DiVA.org:hj-17478DiVA, id: diva2:485803
Available from: 2012-01-30 Created: 2012-01-30 Last updated: 2017-12-08Bibliographically approved

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Eklund, JohanHögberg, Andreas

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