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3818 items in total found

Working Papers | 2025

When the Fog Subsides: Strategic Reallocation in Indian Business Groups Amid Uncertainty Transition

Adithya N

The paper investigates the strategic reallocation of resources by business group (BG) affiliated firms during times of reduced uncertainty in emerging markets. Using a Triple Difference method, we examine the response of BG-affiliated firms along historical, sectoral, and regulatory embeddedness to institutional voids. We find that BG-affiliated firms with exposure to past uncertainty and operating in sectors dependent on stable institutions reduce diversification more than their counterparts, while BG-affiliated firms embedded in regulations increase diversification more than their counterparts, viewing the reduction of uncertainty as an opportunity to secure a diversified portfolio through enhanced rules of control.

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Journal Articles | 2025

A linear programming-based hyper local search for tuning hyperparameters

"Ankur Sinha Satender Gunwal"

We introduce a linear programming-based approach for hyperparameter tuning of machine learning models. The approach finetunes continuous hyperparameters and model parameters through a linear program, enhancing model generalization in the vicinity of an initial model. The proposed method converts hyperparameter optimization into a bilevel program and identifies a descent direction to improve validation loss. The results demonstrate improvements in most cases across regression, machine learning, and deep learning tasks, with test performance enhancements ranging from 0.3% to 28.1%.

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Journal Articles | 2025

Shadow education, intra-household financial resource allocation, and educational achievements

Tanmoy Majilla

Studying intra-household allocation of financial resources is challenging as direct parental monetary expenditures on individual children is difficult to isolate from aggregate household expenditures. Due to such limitations, previous studies tend to examine parental allocation of resources indirectly from household expenditures or through other non-monetary investments. This article studies intra-household allocation of parental monetary expenditures on private supplementary tutoring or shadow education. I show a birth order disadvantage for later-born children in shadow education expenditures, and find evidence of disadvantages for girls in every birth order. These patterns are attributed to the preference for elder sons, which is common in India, and I subsequently test several features which stem from this preference. The analysis also shows that intra-household disparity in shadow education expenditures accounts for a substantial part of the gender gaps in cognitive test scores. The inequality contributions from the disparities in shadow education expenditures in test scores decrease as one moves down the birth order.

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Journal Articles | 2025

A note on income risks and their implications for wealth concentration

Mohsen Mohaghegh

Income risks are not accurately captured by standard AR processes that are common in the literature. This paper proposes a simple stochastic process which matches several moments in the data including the cross-sectional distribution of income and the distribution income risk, and can be easily used in models with uninsurable income risk. Incorporating this process into an off-the-shelf OLG model leads to a rise in wealth concentration narrowing the gap between traditional models and the data. However, the right tail of the wealth distribution remains significantly thinner than the data.

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Journal Articles | 2025

Synergistic associations of ambient air pollution and heat on daily mortality in India

Jeroen de Bont Ajit Rajiva Siddhartha Mandal Massimo Stafoggia Tirthankar Banerjee Hem Dholakia Amit Garg Vijendra Ingole Suganthi Jaganathan Itai Kloog Bhargav Krishna Kevin Lane R.K. Mall Jyothi Menon Amruta Nori-Sarma Dorairaj Prabhakaran Abhiyant Sur

Limited studies have evaluated the interaction between ambient air pollution and heat on mortality, especially in regions such as India, where extreme levels of both exposures occur frequently. Accordingly, we aimed to investigate the potential synergistic effects between ambient air pollution and heat on daily mortality in India.

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Journal Articles | 2025

New here? Lawyer up, please: Differences in external legal expenditure between new ventures and established firms in emerging economies

Bibek Bhattacharya

This study examines the differences in external legal expenditure between new and established firms in emerging economies and nuances the dominant view that firms in emerging economies primarily rely on relational strategies to tackle legal and regulatory challenges. Unlike established firms, new ventures lack legitimacy, making relational strategies less viable. Consequently, I theorize that relative to established firms, new ventures in emerging economies will invest more in formal legal strategies, such as hiring external legal services. However, due to financial constraints, their ability to do so will be contingent on financial slack. Analyzing a longitudinal dataset of 23,039 firms in India (1989–2022) using linear panel regression models, I confirm the presence of a positive relationship between new ventures and external legal expenditure, moderated by financial slack. This study contributes to the literature on emerging economies as well as the legal and regulatory aspects of entrepreneurship.

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Journal Articles | 2025

Pace of pro-market reforms, performance feedback, and strategic renewal actions of emerging economy firms

Manish Popli Mehul Raithatha

How do firms in emerging economies react to competitive contexts shaped by the temporal advancement of pro-market reforms? With multi-country analysis, this research shows that as the pace of reforms increases in emerging economies, the incumbent firms engage in strategic renewal actions of internal development and external sourcing through acquisitions. Furthermore, this study integrates the problemistic search perspective and finds that facing a faster pace of pro-market reforms, firms with performance above the aspiration level prioritize augmentation in internal capabilities. In contrast, firms performing below the aspiration level prioritize either domestic or cross-border mergers and acquisitions. We test our hypotheses using 55,068 firm-year observations from 37 emerging economies from 1998 to 2019. This study contributes by providing a better understanding of 'when', 'how,' and 'why' firms from emerging economies take specific strategic renewal actions as their home markets evolve.

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Journal Articles | 2025

Navigating international entry via strategic alliances: Comparison of family and non-family firms

Sumit Chakraborty Chitra Singla

International strategic alliances (ISAs) serve as an important vehicle for growth, international expansion, and access to technology and other resources. The choice of governance structure in ISAs—specifically, whether to form an international joint venture (IJV) or an international non-equity alliance (INEA)—is a pivotal decision for firms. However, despite the importance of this choice, the influence of firms' ownership heterogeneity on the choice remains underexplored. In order to address this gap, this study compares family-owned and non-family-owned firms to examine their differing preferences between IJVs and INEAs. Drawing on an integrated risk perspective and the mixed-gamble socioemotional wealth perspective, we argue that family firms exhibit a greater propensity to choose IJVs over INEAs than non-family firms. Moreover, we posit that this preference is amplified by two factors: (1) the industry-relatedness of the alliance partners and (2) the focal firm's prior experience in the partner's home country. Empirical analysis of 1216 cross-border dyadic alliances formed by publicly listed Indian firms between 2000 and 2022 provides robust support for our hypotheses. This study contributes to the literature on international strategic alliances and family firms' internationalization by shedding light on the nuanced governance preferences of family firms in cross-border collaborations.

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Journal Articles | 2025

Does location matter? A study of automotive clusters in India

Andreas Offenloch Hans Sebastian Heese Amit Karna

Researchers have become increasingly interested in the agglomeration of firms into industry clusters and the effects of such clusters on firms. We analyze the effects of exposure to original equipment manufacturers (OEMs) and industry clusters on supplier performance, focusing on the avoidance of operations disruptions and the support of a smooth production ramp-up at the OEM, by assessing the suppliers of a multinational automotive OEM in India. We study how the exposure of suppliers to the focal OEM and to clusters affects the ability of suppliers to continuously provide their parts to the OEM within pre-agreed schedules and specifications.

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Journal Articles | 2025

Men in beauty work and feminization of digital labor platforms

Sai Amulya Komarraju Manisha Pathak-Shelat Payal Arora Usha Raman

Extant research on the gendered dynamics on digital labor platforms and care work is divided in terms of focus: (migrant) men involved in supposedly “masculine” work such as driving and delivery, and home-based repair work, and the feminized invisible work performed by women in home-based care-work such as domestic work and beauty work. While such scholarship has merit, it completely dismisses the particularities of the South Asian context where beauty work, considered to be ritually impure work, has historically been performed by men from the marginalized Nai caste. Foregrounding the views of men in beauty work, particularly Nai-barbers (on and off platform), our findings reveal that Nai-barbers find the relocation of work from barbershop to customer’s home by platforms particularly humiliating. The transition from being entrepreneurs, in charge of their barbershops, to mere workers supervised by both platforms and customers, evokes memories of the servitude their ancestors endured. The humiliation and degradation of work they experience are rooted in caste and colonial histories. Our findings underscore the need to go beyond the immediate temporal context to identify the conditions of work that workers find degrading, and situate the feminization of platform economy within the context of coloniality and casticization of power, thus bringing a necessary intersectionality that recognizes but goes beyond gender.

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