000			01302nam a2200193 4500
999			_c50439 _d50439
003			OSt
005			20181116152531.0
008			181116b ||||| |||| 00| 0 eng d
100			_aChauhan, Gaurav Singh _932441
245			_aCorporate financing and deleveraging of firms in India
300			_a170-187
520			_aThe paper highlights systematic deleveraging of firms in India and explores the factors contributing to such deleveraging. The paper further highlights that deleveraging is pervasive in manufacturing and non-manufacturing firms almost equally. The empirical findings of the paper suggest that most consistent theoretical determinants of corporate leverage fail to explain the decline in debt ratios of the firms. However, institutional deficiencies in the form of underdeveloped bond markets and decline in corporate investments were found to be significant in explaining the decline. The results suggest that firms could be credit rationed and hence losing value on account of such deficiencies.
653			_aDeleveraging
653			_aCorporate leverage
653			_aExternal financing
653			_aCredit market development
773	0		_026346 _972088 _aRAVI aNSHUMAN V. _dBANGOLRE IIM BANGALORE 2011 _o5559110 _tIIMB Management Review _x09793896
942			_2ddc _cJA-ARTICLE