EconPapers    
Economics at your fingertips  
 

Differences in the Performance of Group-Affiliated and Stand-Alone Firms

Jhuma Mukhopadhyay ()
Additional contact information
Jhuma Mukhopadhyay: Independent Researcher

Chapter Chapter 8 in Indian Business Groups and Other Corporations, 2023, pp 207-231 from Springer

Abstract: Abstract In this study, we try to find out whether group-affiliated firms perform better than the stand-alone firms in the post-reform period. Our study is based on the 14,274 numbers of BSE-listed manufacturing firms. Using dynamic panel data regression technique, we find that group-affiliated firms outperform the stand-alone firms. In order to find the factors responsible for better performance of affiliated firms, we again apply dynamic panel data regression technique. But more importantly, since we are interested to examine whether the impact of explanatory variables on firm performance differs between top performing and bottom-performing firms, we apply panel quantile regression method. However, the study finds that ownership opacity as well as internal financial capital, both are responsible for improved performance of group-affiliated firms. This refutes institutional void theory. The findings are analyzed from the perspectives of Resource-Based View, Resource Dependency theory and agency theory.

Date: 2023
References: Add references at CitEc
Citations:

There are no downloads for this item, see the EconPapers FAQ for hints about obtaining it.

Related works:
This item may be available elsewhere in EconPapers: Search for items with the same title.

Export reference: BibTeX RIS (EndNote, ProCite, RefMan) HTML/Text

Persistent link: https://EconPapers.repec.org/RePEc:spr:isbchp:978-981-99-5041-6_8

Ordering information: This item can be ordered from
http://www.springer.com/9789819950416

DOI: 10.1007/978-981-99-5041-6_8

Access Statistics for this chapter

More chapters in India Studies in Business and Economics from Springer
Bibliographic data for series maintained by Sonal Shukla () and Springer Nature Abstracting and Indexing ().

 
Page updated 2025-04-01
Handle: RePEc:spr:isbchp:978-981-99-5041-6_8