Ownership and Firm Performance in India under Reforms: Revisiting the Public versus Private Debate

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Chakrabarti, Amit Baran.,Ray, Sougata. "Ownership and Firm Performance in India under Reforms: Revisiting the Public versus Private Debate", Noida, 4th biennial conference of the Indian Academy of Management (IAM), 2015
Abstract:
The last two decades have witnessed a range of policy reforms related to the public sector and Indian industry in general. In this descriptive study, we try to take stock and analyse the impact of these reforms through the balance sheet data of the population of firms in India. The firms are divided based on their ownership, into business group (BG) affiliated firms; state owned enterprises (SOEs); multinational (MNC) subsidiaries; and domestic stand alone private firms. The performance of these firms on multidimensional performance metrics reveals that while there are sharp differences in the performance of firms belonging to the different ownership categories, at the same time, there are signs of convergence in some of the measures. The results of this study are placed in perspective with previous studies and research implications are discussed.