亿万富翁财富、企业绩效与金融危机:印度的实证分析

IF 0.6 Q4 ECONOMICS

South Asian Journal of Macroeconomics and Public Finance Pub Date : 2016-12-01 DOI:10.1177/2277978716671050

Saibal Ghosh

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引用次数: 0

摘要

本文采用2001-2012年的数据，分析了影响印度亿万富翁财富的因素以及这些亿万富翁所代表的公司的绩效和创新活动。分析显示，在租金较高的行业，亿万富翁的平均财富水平更高。同样，证据也支持白手起家和创业型亿万富翁的财富较低。研究结果还表明，亿万富翁的自利行为往往会提高代理成本，进而降低盈利能力和公司价值。最后，有证据表明，亿万富翁有阻碍创新活动的倾向。JEL分类:D31, N35, P52

本文章由计算机程序翻译，如有差异，请以英文原文为准。

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Billionaire Wealth, Firm Performance and Financial Crisis: An Empirical Analysis for India

Employing data for 2001–2012, the article analyzes the factors impacting the wealth of Indian billionaires and the performance and innovative activity of firms which these billionaires represent. The analysis indicates that billionaires in rent-thick sectors have higher wealth levels, on average. As well, the evidence also supports lower wealth for self-made and entrepreneurial billionaires. The findings also reveal that self-interested actions by billionaires tend to raise agency costs, which, in turn, dampens profitability and firm value. Finally, there is evidence which suggests a tendency on the part of billionaires to block innovative activity. JEL Classification: D31, N35, P52

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来源期刊

South Asian Journal of Macroeconomics and Public Finance ECONOMICS-

CiteScore

2.10

自引率

11.10%

发文量

期刊介绍： The purpose of the Journal is to publish (in English language) peer-reviewed articles, reviews and scholarly comments on issues relating to contemporary global macroeconomics and public finance by which is understood: The Journal is for all professionals concerned with contemporary Macroeconomics and Public Finance and is a forum for all views on related subjects. The Editorial Board welcomes articles of current interest on research and application on the areas mentioned above. The Journal will be international in the sense that it seeks research papers from authors with an international reputation and articles that are of interest to an international audience. In pursuit of the above, the journal shall: a. draw on and include high quality work from the international community of scholars including those in the major countries of Asia, Europe, Asia Pacific, the United States, other parts of the Americas and elsewhere with due representation for considerations of the readership. The Journal shall include work representing the major areas of interest in contemporary research on Macroeconomics and Public Finance and on a wide range of issues covering macro- economics, tax and fiscal issues, banking and finance, international trade, labour economics, computational and mathematical methods, etc. The Journal would particularly engage papers on pure and applied economic theory and econometric methods. b. avoid bias in favour of the interests of particular schools or directions of research or particular political or narrow disciplinary objectives to the exclusion of others. c. ensure that articles are written in a terminology and style which makes them intelligible, not merely within the context of a particular discipline or abstract mode, but across the domain of relevant disciplines.