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Building a BRIC?: stock market opening and investment finance in India since liberalization

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Building a BRIC? stock market opening and investment finance in India since liberalization. / Snowden, Nick; Muñoz, Jesús.
In: World Development, Vol. 40, No. 6, 06.2012, p. 1109-1121.

Research output: Contribution to Journal/Magazine › Journal article › peer-review

Harvard

Snowden, N & Muñoz, J 2012, 'Building a BRIC? stock market opening and investment finance in India since liberalization', World Development, vol. 40, no. 6, pp. 1109-1121. https://doi.org/10.1016/j.worlddev.2011.12.010

APA

Snowden, N., & Muñoz, J. (2012). Building a BRIC? stock market opening and investment finance in India since liberalization. World Development, 40(6), 1109-1121. https://doi.org/10.1016/j.worlddev.2011.12.010

Vancouver

Snowden N, Muñoz J. Building a BRIC? stock market opening and investment finance in India since liberalization. World Development. 2012 Jun;40(6):1109-1121. doi: 10.1016/j.worlddev.2011.12.010

Author

Snowden, Nick ; Muñoz, Jesús. / Building a BRIC? stock market opening and investment finance in India since liberalization. In: World Development. 2012 ; Vol. 40, No. 6. pp. 1109-1121.

Bibtex

@article{698d4375657d407493a9ef3745e4183a,
title = "Building a BRIC?: stock market opening and investment finance in India since liberalization",
abstract = "Portfolio equity inflows have been a feature of India{\textquoteright}s improved growth performance in recent years. This study examines a possible connection through the equity financing of capital formation by manufacturing firms. Emphasis is placed on the funding preferences of owner-controlled enterprises with the empirical results connecting equity issues to the management of gearing and the availability of internal funds. This context suggests strongly that equity and debt are complementary choices, although two channels of influence—macroeconomic and allocative—combine to encourage investment spending, with pro-cyclical implications.",
keywords = "Asia, India, portfolio equity, stock markets, capital investment, owner-control",
author = "Nick Snowden and Jes{\'u}s Mu{\~n}oz",
year = "2012",
month = jun,
doi = "10.1016/j.worlddev.2011.12.010",
language = "English",
volume = "40",
pages = "1109--1121",
journal = "World Development",
issn = "0305-750X",
publisher = "Elsevier Ltd",
number = "6",

}

RIS

TY - JOUR

T1 - Building a BRIC?

T2 - stock market opening and investment finance in India since liberalization

AU - Snowden, Nick

AU - Muñoz, Jesús

PY - 2012/6

Y1 - 2012/6

N2 - Portfolio equity inflows have been a feature of India’s improved growth performance in recent years. This study examines a possible connection through the equity financing of capital formation by manufacturing firms. Emphasis is placed on the funding preferences of owner-controlled enterprises with the empirical results connecting equity issues to the management of gearing and the availability of internal funds. This context suggests strongly that equity and debt are complementary choices, although two channels of influence—macroeconomic and allocative—combine to encourage investment spending, with pro-cyclical implications.

AB - Portfolio equity inflows have been a feature of India’s improved growth performance in recent years. This study examines a possible connection through the equity financing of capital formation by manufacturing firms. Emphasis is placed on the funding preferences of owner-controlled enterprises with the empirical results connecting equity issues to the management of gearing and the availability of internal funds. This context suggests strongly that equity and debt are complementary choices, although two channels of influence—macroeconomic and allocative—combine to encourage investment spending, with pro-cyclical implications.

KW - Asia

KW - India

KW - portfolio equity

KW - stock markets

KW - capital investment

KW - owner-control

U2 - 10.1016/j.worlddev.2011.12.010

DO - 10.1016/j.worlddev.2011.12.010

M3 - Journal article

VL - 40

SP - 1109

EP - 1121

JO - World Development

JF - World Development

SN - 0305-750X

IS - 6

ER -