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The relationship between financial structure and productivity of select Indian firms

Shodhganga@INFLIBNET

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Title The relationship between financial structure and productivity of select Indian firms
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Contributor Murthy, Bhanu K V
 
Subject commerce
productivity
 
Description I. INTRODUCTION Traditionally financial structure has been seen as a purely financial problem without any reference to production theory. In as much as all the firms are responsible for economic activity which involves production of goods and services, it should be obvious that there would be some relationship between production theory and finance theory. While firms needs to be financially viable for continuing production, it is equally true that economic activity, production and real variables, including productivity, would contribute to this financial viability. For a continued existence and growth, firms have to undertake decisions in relation to financing of growth. The contention of this thesis is that such a financing decision and consequent financial structure would be integrally linked to production activity, production theory, productivity, efficiency and growth. It needs to be understood that finance is not an end in itself; rather it is a means for the continued existence of the firm. Productivity, innovation, technological progress and efficiency contribute to the growth of the firm. In an accounting sense, this related to the Going concern concept . Each going concern aims at continued production activity. This is clear cut indication of the integral relationship. The going concern cannot survive unless this relationship exists. The primary interest in this topic arises out of Nucci, Pozzolo and Schivardi (2005) study. However our approach and understanding is quite contrary to their assertion that A major achievement of this renewed research effort is a conclusive answer to the question of causality . This is because the direction of causality is purported to be from financial structure to productivity, in the above study. Our main question is whether debt equity ratio causes productivity or productivity causes debt equity ratio. Total factor productivity growth (TFP) is the best known measure of productivity.
Bibliography p.245-253
 
Date 2013-05-27T11:01:15Z
2013-05-27T11:01:15Z
2013-05-27
n.d.
2012
n.d.
 
Type Ph.D.
 
Identifier http://hdl.handle.net/10603/9193
 
Language English
 
Relation -
 
Rights university
 
Format 253p.
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None
 
Coverage Commerce
 
Publisher New Delhi
University of Delhi
Dept. of Commerce
 
Source INFLIBNET