Liberalisation, the Stock Market and the Market for Corporate Control: A Bridge Too Far for the Indian Economy?
An outstanding feature of the Indian economic reform in the recent period has been the fast expansion of stock markets and their growing role in the economy. The paper first reviews the stock market reforms and analyses the effects of stock market expansion on corporate growth and the real economy. Second, it examines the proposed next stage of the reforms: the establishment of a market for corporate control. The paper offers analyses and evidence to suggest that this reform is more likely to harm than help the real economy at India's present stage of development.
To our knowledge, this item is not available for
download. To find whether it is available, there are three
1. Check below under "Related research" whether another version of this item is available online.
2. Check on the provider's web page whether it is in fact available.
3. Perform a search for a similarly titled item that would be available.
|Date of creation:||May 1997|
|Date of revision:|
|Contact details of provider:|| Web page: http://www.econ.cam.ac.uk/index.htm|
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Mueller, Dennis C., 1992. "The corporation and the economist," International Journal of Industrial Organization, Elsevier, vol. 10(2), pages 147-170, June.
- Cosh, Andy & Hughes, Alan & Lee, Kevin & Singh, Ajit, 1996. "Takeovers, institutional investment and the persistence of profits," MPRA Paper 39061, University Library of Munich, Germany.
- Kenji Kojima, 1994. "An International Perspective on Japanese Corporate Finance," Kobe Economic & Business Review, Research Institute for Economics & Business Administration, Kobe University, vol. 39, pages 11-59.
- Baumol, William J, et al, 1970. "Earnings Retention, New Capital and the Growth of the Firm," The Review of Economics and Statistics, MIT Press, vol. 52(4), pages 345-55, November.
- Jensen, Michael C, 1988. "Takeovers: Their Causes and Consequences," Journal of Economic Perspectives, American Economic Association, vol. 2(1), pages 21-48, Winter.
- Odagiri, Hiroyuki & Hase, Tatsuo, 1989. "Are mergers and acquisitions going to be popular in Japan too? : An empirical study," International Journal of Industrial Organization, Elsevier, vol. 7(1), pages 49-72, March.
- Marris, Robin & Mueller, Dennis C, 1980. "The Corporation, Competition, and the Invisible Hand," Journal of Economic Literature, American Economic Association, vol. 18(1), pages 32-63, March.
- Cobham, David & Subramaniam, Ramesh, 1998.
"Corporate finance in developing countries: New evidence for India,"
Elsevier, vol. 26(6), pages 1033-1047, June.
- David Cobham & Ramesh Subramaniam, 1995. "Corporate Finance in Developing Countries: New Evidence for India," CRIEFF Discussion Papers 9512, Centre for Research into Industry, Enterprise, Finance and the Firm.
- Sanford J. Grossman & Oliver D. Hart, 1980. "Takeover Bids, the Free-Rider Problem, and the Theory of the Corporation," Bell Journal of Economics, The RAND Corporation, vol. 11(1), pages 42-64, Spring.
- Corbett, Jennifer & Jenkinson, Tim, 1994. "The Financing of Industry, 1970-89: An International Comparison," CEPR Discussion Papers 948, C.E.P.R. Discussion Papers.
- Cosh, A. D. & Hughes, A. & Lee, K. & Singh, A., 1989. "Institutional investment, mergers and the market for corporate control," International Journal of Industrial Organization, Elsevier, vol. 7(1), pages 73-100, March.
- John Mullin, 1993. "Emerging equity markets in the global economy," Quarterly Review, Federal Reserve Bank of New York, issue Sum, pages 54-83.
When requesting a correction, please mention this item's handle: RePEc:cam:camafp:97-af35. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (Howard Cobb)
If references are entirely missing, you can add them using this form.