Independent directors in India
Emerging market economies around the world have undertaken a number of reforms related to the credit and capital markets. This project aims to examine the efficacy of such reforms in the context of India.
Project description
Over the past three decades, emerging market economies have undertaken a number of reforms that are meant to facilitate greater and more efficient allocation (and use) of financial resources. This has included, for example, capital market reforms that reduce trading/transactions cost, and reform of corporate governance structures. It is unclear, however, as to whether these reforms have had the desired effects. This is particularly true of corporate governance reforms, given that the regulations were largely transplanted from developed contexts. The aim of the project is to empirically examine the efficacy of these reforms in the context of India.
Key research outputs
-
Bhaumik, S.K., Chakrabarty, M., Kutan, A.M., Selarka, E. (2018). How effective are stock market reforms in emerging market economies? Evidence from a panel VAR model of the Indian stock market, Discussion paper no. 290, Global Labor Organization.
-
Research presented at the 2016 annual conference of the Western Economic Association International, and at workshops at the University of Sheffield and the Indian Institute of Management, Calcutta.
