The Impact of Publicness on Firm Performance: The Case of India under Pro-market Reforms

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Chakrabarti, Amit Baran.,Ray, Sougata. "The Impact of Publicness on Firm Performance: The Case of India under Pro-market Reforms", IIM Indore, WMC Conference, 2015
Abstract:
This study takes a nuanced view of state-owned enterprises as hybrid organizations. Rather than viewing firms dichotomously as either state owned or privately owned, we consider them as a continuum on three dimensions of publicness. We theorize an inverted U-shaped relationship between publicness and firm profitability. We also theorize that the inverted U-shaped relationship will be shallower for bigger firms. We test and find support for the theorized relationships in a large sample of 214,401 observations belonging to 21,482 firms taken over a fourteen year period from India.