Indira Gandhi Institute of Development Research

About: Indira Gandhi Institute of Development Research is a facility organization based out in Mumbai, Maharashtra, India. It is known for research contribution in the topics: Monetary policy & Inflation. The organization has 307 authors who have published 1021 publications receiving 18848 citations.

Estimating Default Probability of Firms: An Indian Perspective

Abstract: This paper aims to estimate the probability that a firm is unable or unwilling to service its bank debt. Using a Probit Model we outline the relation between financial health and the probability of first default in the case of the Indian firms - interestingly the study finds that past debt servicing and firm size are not very important as indicators of debt repayment.

Fragmentation Trade and Vertical Specialisation: How Does South Asia Compare with China:

Abstract: This article analyses the trends and patterns of export and fragmentation trade by South Asian countries—Bangladesh, India, Pakistan and Sri Lanka. To place the discussion in a comparative ...

Widowhood and poverty in rural india: some inferences from household survey data

Abstract: This paper examines the relationship between widowhood and poverty in rural India, based on National Sample Survey data on consumer expenditure. In terms of standard poverty indices based on household per-capita expenditure, there is no evidence of widows being disproportionately concentrated in poor households, or of female-headed households being poorer than male-headed households. These findings also apply in terms of adult-equivalent consumption, for any reasonable choice of equivalence scales. Poverty indices for different household types, however, are quite sensitive to the level of economies of scale in household consumption. Even relatively small economies of scale imply that the incidence of poverty among single widows, living with unmarried children, and female household heads (all of whom tend to live in relatively small households) is higher than in the population as a whole.

Multiple Board Appointments and Firm Performance in Emerging Economies : Evidence from India

Abstract: The relation between multiple directorships, busy directors and firm performance has been researched predominantly in the context of developed economies, notably the US. This paper extends the existing literature on multiple directorships in two ways; first, by providing additional evidence on its effect on firm performance, but with respect to an emerging economy, India, and secondly, by suggesting an alternative measure of directorial "busyness" that is more general in its applicability compared to those that have been applied in the existing literature. Using a sample of 500 large firms from the Indian corporate sector for the year 2002-03, the paper finds multiple directorships by independent directors to correlate positively with firm value thereby supporting the "quality hypothesis" that busy directors are likely to be better directors, a result that is different from the existing evidence on busy directors. Multiple directorships by insider directors are, however, negatively related to firm performance. Estimation of group and non-group companies separately reveals that the quality effect of independent directors persists for the former but disappears for the latter. In general, the results suggest that the relation between "busy" directors and firm performance may depend on the institutional context and on the type of director

Wage Bargaining and Managerial Incentives

Abstract: If managers bargain with workers over wage before choosing output in a Cournot duopoly, owners face two conflicting interests in designing managerial incentives: one for profit orientation to reduce wage, and the other for sales orientation to gain in output competition. The net effect depends on the workers' bargaining power.