Share holding Pattern and Firm Performance

Corporate Governance deals with the issue of how suppliers of finance to corporations assure themselves of getting a return on their investment. Several Studies have examined the relationship between ownership structure and firm performance. Using di erent data samples most of the studies provide general support for the argument that increase in managerial ownership increases firm performance. However, these results have been questioned recently. This study examines empirically the effects of ownership structure on the firm performance for a large sample of Indian Corporate Firms, from an `agency perspective'. We examine the effect of interactions between corporate, foreign, financial institutions, and managerial ownership on firm performance. We provide empirical evidence, which suggests that firm size and age in positively related to the firm performance. Using panel data framework, we show that a large fraction of cross-sectional variation, in firm performance, found in several studies, is explained by unobserved firm heterogeneity, rather than the ownership structure. We do not find any evidence that the differences in ownership structure, affect firm performance; after controlling for observed firm characteristics and firm fixed effects.corporate governance, shareholding pattern and firm performance

A Panel Data Analysis of General Elections Under Multi Party Electoral College

We analyze the probability of an incumbents winning in the consecutive election, under the assumption that all individual candidates are equally likely (i.e. random selection) when they are from the same party. We estimate the probability of winning by ruling party. Using Indian panel data from 1967-1999. We find that incumbents have better log-odds if they contest on behalf of national parties , researved seats and with higher polling percentage.electoral system, incumbents, GEE-population averaged model and panel data

Corporate Governance Mechanisms and Firm Financing in India

This study investigates the firm financing patterns in India and the role of corporate governance mechanisms. We use firm-level time series data of nearly 2000 listed companies from 1994 through 2000, to analyze the firm’s corporate financing behavior in connection with its corporate governance arrangements, specially its shareholding pattern. Our results show that the capital structure of the firm is non-linearly linked to its corporate governance mechanisms (ownership structure). We find that firms with weaker corporate governance mechanisms (dispersed shareholding pattern, in particular measured by the entrenchment effects of group affiliation) tend to have a higher level of debt. Firms with higher foreign ownership or with low institutional ownership tend to have lower debt level. We do not find any significant relationship between ownership of directors and corporate with the firm financing in India. Overall, the findings presented in the paper provide evidence of definite role of corporate governance mechanisms in firm’s financing decisions in India.Corporate Governance, Ownership Structure, Firm Financing, Capital Structure, Debt vs. Equity, and India

What do employers want from an aligned employment and skills system?: A report of research carried out by Ipsos MORI on behalf of the Department for Work and Pensions and the Department for Business, Innovation and Skills (Research paper number 41)

This document is related to http://dera.ioe.ac.uk/3011

What do employers want from an aligned employment and skills system? (Research report no. 743)

A report of research carried out by Ipsos MORI on behalf of the Department for Work and Pension

Why Does a Kronecker Model Result in Misleading Capacity Estimates?

Many recent works that study the performance of multi-input multi-output (MIMO) systems in practice assume a Kronecker model where the variances of the channel entries, upon decomposition on to the transmit and the receive eigen-bases, admit a separable form. Measurement campaigns, however, show that the Kronecker model results in poor estimates for capacity. Motivated by these observations, a channel model that does not impose a separable structure has been recently proposed and shown to fit the capacity of measured channels better. In this work, we show that this recently proposed modeling framework can be viewed as a natural consequence of channel decomposition on to its canonical coordinates, the transmit and/or the receive eigen-bases. Using tools from random matrix theory, we then establish the theoretical basis behind the Kronecker mismatch at the low- and the high-SNR extremes: 1) Sparsity of the dominant statistical degrees of freedom (DoF) in the true channel at the low-SNR extreme, and 2) Non-regularity of the sparsity structure (disparities in the distribution of the DoF across the rows and the columns) at the high-SNR extreme.Comment: 39 pages, 5 figures, under review with IEEE Trans. Inform. Theor

Criminalization and the Politics of Migration in Brazil

In May 2017, the government of Brazil enacted a new immigration law, replacing a statute introduced in 1980 during the country’s military dictatorship with progressive legislation that advances human rights principles and adopts innovative approaches to migration management. One of the most notable features of the new law is its explicit rejection of the criminalization of migration, and its promotion of efforts to regularize undocumented migrants. Although the law itself is new, the values embedded in the law reflect recent trends in Brazilian immigration policy, which has embraced legalization, and has generally resisted the use of criminal law to punish unauthorized migration. Indeed, in Brazil, an initial unlawful entry does not carry criminal consequences, and at the level of society, public discourse and policy debates display minimal concern regarding this act. This posture is especially intriguing, given Brazil’s otherwise aggressive focus on criminality and incarceration.This paper seeks to understand the circumstances that have led to this non-embrace of the criminalization of migration, and in particular, the scarce use of criminal law tools to punish and deter unlawful entry and related acts. The paper explores how a combination of historical factors, present-day conditions, and political forces have largely suppressed practices that dominate in the United States and in parts of Europe. Contemporary Brazilian immigration policies have generally adopted norms of forgiveness and integration — values buoyed by broader geopolitical interests that the Brazilian government has pursued in recent times. Additional factors unique to Brazil undergird the current approach, including Brazil’s history of immigration, current migration flows, and criminal justice priorities. The paper concludes with some cautionary notes, suggesting that the disavowal of criminalization in Brazil may be ephemeral in Brazil’s volatile political climate, and may mask other conditions that create structural vulnerability for noncitizens in the country