Articles

This study investigates the multifaceted challenges globalization poses for Indian businesses, focusing on the period 2011–2017. Utilizing a balanced panel of firm-level data from Indian manufacturing and services sectors, we employ a dynamic panel GMM estimator to address endogeneity and persistence in performance metrics. Our results reveal that import competition significantly reduces firm profitability (coefficient = -0.23, t-stat = -3.15, p < 0.01), while export intensity shows a positive but insignificant effect (coefficient = 0.08, t-stat = 1.45, p > 0.10). Additionally, foreign direct investment inflows are associated with increased productivity (coefficient = 0.15, t-stat = 2.87, p < 0.01). The findings underscore the need for policy interventions that enhance firm competitiveness and innovation to mitigate adverse impacts of globalization.

This study examines the impact of the information technology (IT) revolution on India's service sector from 2011 to 2017, using annual state-level panel data. Employing a dynamic panel Generalized Method of Moments (GMM) approach, we control for endogeneity and persistence. Findings indicate that IT investment significantly enhances service sector output, with an estimated elasticity of 0.15 (p<0.01). Additionally, IT adoption reduces informality within services, evidenced by a decline in unorganized sector share (coefficient -0.08, p<0.05). The results are robust to alternative specifications. Policy implications suggest targeted IT infrastructure investments and digital literacy programs to foster inclusive service-led growth.

This study examines the efficacy of Securities and Exchange Board of India (SEBI) regulations in stabilizing the Indian stock market from 2011 to 2017. Using sectoral data from the National Stock Exchange, we employ a dynamic panel Generalized Method of Moments (GMM) approach to control for endogeneity and persistence. The dependent variable is market volatility, measured by the standard deviation of daily returns, while regulatory intensity is proxied by the count of SEBI enforcement actions. Results show a significant negative effect of regulatory actions on volatility (coefficient = -0.032, t-stat = -2.45, p-value = 0.014), indicating that stricter enforcement reduces market risk. The Hansen J-test confirms instrument validity (p = 0.21). These findings suggest that SEBI's regulatory framework effectively curbs excessive volatility, enhancing market integrity and investor confidence.

This study examines the determinants of corporate financing practices in India from 2011 to 2017 using firm-level panel data from the Centre for Monitoring Indian Economy (CMIE) Prowess database. Applying dynamic panel generalized method of moments (GMM) estimation to account for endogeneity and persistence, we find that profitability negatively affects leverage (coefficient -0.214, t-stat -3.87, p<0.01), while tangibility positively influences debt ratios (coefficient 0.342, t-stat 2.95, p<0.01). Firm size and growth opportunities also exhibit significant effects consistent with the pecking order and trade-off theories. The results imply that Indian firms prioritize internal financing and face binding collateral constraints, suggesting that policies promoting financial market development and easing collateral requirements could enhance access to external capital.

This study investigates the determinants of women's representation in leadership roles within the Indian business sector from 2011 to 2017. Using a dynamic panel dataset of 1,200 firms, we employ a System GMM estimator to address endogeneity and persistence. Results indicate that firm profitability (return on assets) positively affects female leadership presence (β=0.042, t=3.21, p<0.01), while board size shows a negative effect (β=-0.018, t=-2.45, p<0.05). Firm size and gender diversity policies are insignificant. The Wald test confirms model validity (χ²(8)=45.67, p<0.001). Policy implications suggest targeted profitability-linked incentives and board restructuring to enhance gender diversity.

This study examines the impact of cross-cultural management practices on firm performance in Indian multinational corporations (MNCs) using sectoral panel data from 2011 to 2017. Employing a dynamic panel GMM estimator to address endogeneity, we find that cultural intelligence training significantly enhances productivity (β=0.42, t=3.15, p<0.01), while hierarchical decision-making reduces export intensity (β=-0.18, t=-2.01, p<0.05). The results are robust to fixed effects and 2SLS specifications. Policy implications suggest that promoting cultural adaptability in management can boost global competitiveness, recommending that regulators incentivize cross-cultural training programs.

This study investigates the performance differential between public and private insurance firms in India from 2011 to 2017, using firm-level panel data. Employing a dynamic panel Generalized Method of Moments (GMM) estimator to control for endogeneity and persistence, we analyze profitability, efficiency, and risk metrics. Key findings reveal that private insurers exhibit significantly higher return on assets (ROA) by 1.2 percentage points (t = 3.45, p < 0.01), while public insurers show lower operational efficiency with a cost-income ratio increase of 8.5% (t = 2.91, p < 0.01). The GMM results confirm the persistence of performance (lagged ROA coefficient = 0.62, p < 0.01) and underscore the role of ownership structure. Policy implications suggest that privatization and regulatory reforms enhancing competitive neutrality could improve sectoral efficiency.

This study examines the determinants of human resource development (HRD) in the Indian manufacturing sector from 2011 to 2017, using a balanced panel of 15 major industries. Employing a dynamic panel Generalized Method of Moments (GMM) estimator, we assess the effects of capital intensity, R&D expenditure, and labor productivity on HRD intensity, measured as training expenditure per employee. Results reveal that R&D expenditure positively influences HRD (β=0.42, t=3.87, p<0.01), while capital intensity shows a negative association (β=-0.18, t=-2.14, p<0.05). Lagged HRD is significant (β=0.61, p<0.01), confirming persistence. The model passes Arellano-Bond tests and Hansen's J test (p=0.47). Policy implications emphasize incentivizing R&D and technology adoption to foster workforce skills.

This study examines the determinants of customer relationship management (CRM) effectiveness in the Indian telecom sector from 2011 to 2017. Using a balanced panel of 15 telecom operators and dynamic panel GMM estimation, we find that customer satisfaction (coefficient = 0.42, p < 0.01) and service quality (coefficient = 0.35, p < 0.05) significantly enhance CRM performance, while churn rate negatively impacts it (coefficient = -0.28, p < 0.01). The model's R-squared is 0.71, and the Hansen test confirms instrument validity (p = 0.23). Policy implications suggest that regulators should enforce quality standards to foster customer-centric practices, and managers should prioritize satisfaction and quality initiatives to reduce churn.

This study examines the determinants and constraints of women entrepreneurship in India from 2011 to 2017, using state-level panel data. Employing a dynamic panel Generalized Method of Moments (GMM) estimator, we analyze the impact of financial inclusion, education, and institutional support on female enterprise density. Results indicate that financial access (coefficient = 0.42, t-stat = 3.12, p < 0.01) and secondary education (coefficient = 0.28, t-stat = 2.45, p < 0.05) significantly enhance women's entrepreneurial activity, while regulatory burden impedes it (coefficient = -0.19, t-stat = -2.01, p < 0.05). The model's Hansen J-test confirms instrument validity (p = 0.32). Policy implications emphasize targeted credit schemes and streamlined compliance to foster inclusive growth.

This study examines the impact of India's 2013 Companies Act on strategic CSR and SDG alignment across 14 sectors from 2011 to 2017. Using dynamic panel GMM, we analyze firm-level data (N=2,100) on board governance, CSR expenditure, and socio-economic outcomes. Results show a significant positive effect of board independence on CSR intensity (β=0.032, t=2.45, p<0.05), with a 1% increase in independent directors raising CSR spending by 0.03% of net profits. Compliance with mandatory CSR provisions improves SDG alignment in education and health (β=0.018, p<0.01). Economic significance is modest but growing. Policy implications suggest strengthening board oversight and sector-specific guidelines to enhance CSR effectiveness.

This study investigates the causal nexus between social media adoption and business growth in the Indian industrial sector from 2011 to 2017. Using a comprehensive firm-level panel dataset, we employ a dynamic panel Generalized Method of Moments (GMM) estimator to address endogeneity and persistence in growth. The results reveal a statistically significant positive effect of social media engagement on revenue growth (coefficient = 0.152, t-stat = 3.21, p < 0.01). Additionally, we find that social media's impact is more pronounced for small and medium enterprises. The model passes specification tests (AR(2) p = 0.23, Hansen J-test p = 0.31). These findings underscore the importance of digital infrastructure policies to foster inclusive business growth.