Commerce

Cross border mergers and acquisitions is the fastest means of making an international presence for a business firm. It is a mode of outward FDI which has so far been explained best in terms of Dunning's OLI framework. The emergence of outbound FDI from the developing world however, has looked at alternate frameworks emphasizing outward orientation, leverage through building linkages and achieving organizational efficiency through integration. The study seeks to explain outbound M&A in the Indian IT industry during 2000-2006, in the changing global competitive scenario .

This paper examines the macro-economic impact of capital flows into India. The variables identified in the study have been drawn on the basis of the transmission mechanism -to see how capital flows are transmitted into the economic system. To examine the issue the paper uses simple regression and Granger's Error Correction technique, which analyses long run and short run impact together. It has been found that out of the macro variables selected almost all are influenced by capital flows and represent the monetary environment of the economy.

This paper examines the phenomenon of accelerated internationalization of firms from the Indian IT industry. It examines the emergence of the Born Global firm in the Indian context with a specific focus on firms which made an acquisition within five years of incorporation. It specifically addresses the issue of initiating factors which contribute to the emergence of the Born Global Acquirer using constructs from the Resource based view (RBV) and institutional theory.

Purpose – The purpose of this paper is to examine the phenomenon of the born global firm (BGF) in the Indian context. Specifically, the paper explores firm-level characteristics (from the Indian IT industry) which act as initiating forces for firms which have made cross-border acquisitions within five years of  incorporation.
Design/methodology/approach – The paper uses inductive reasoning to derive a theoretical framework of analysis, using constructs from the resource-based view and institutional theory.
Findings – The paper posits that firm resources, personal and network characteristics of its founders, age of the firm and institutional factors act as the initiating factors for a BGF.
Originality/value – This is the first study on the phenomenon of the BGF from India, which is an important emerging market, and has pioneering value, contributing to the growing literature on the topic.
Key Words : India, Born GLobals, Information Technology , Acquisitions and mergers, Emerging markets, Multinational companies

The competitive landscape of the Indian business firm has seen a dynamic change in the 1990s as a result of dual institutional changes of economic liberalization and changing intellectual policy regimes. Liberalisation and its accompanying changes in trade, industry, foreign investment and technology policy regime, triggered previously protected Indian companies towards capability enhancement. This translated into a two pronged competitive strategy by the Indian firm -the adoption of a defensive strategy was aimed at protecting its competitive position in the domestic market and an assertive strategy aimed at leveraging new opportunities through internationalization. This paper examines the changing strategic orientations of the Indian Pharmaceutical industry through a study of its international venturing. It finds that firms have used acquisition as well as alliances in the spirit of co-opetition rather than competition, both in the domestic and international market as an important element of the industry's survival strategy.

This paper investigates the link between capital account liberalization and growth for a cross – section of
seventeen developing countries, including India, both theoretically and empirically. It also explores the
different measures of capital account openness and the empirical evidence on the association between
financial openness and growth. Theoretically, capital account openness leads to growth through two main
channels: increase in aggregate investment and an improvement in productivity and efficiency. Existing
empirical evidence however suggests that the link between capital account openness and economic growth
is weak. The paper uses a de jure measure of capital account convertibility, calculated as the proportion of
capital flows to total flow of funds. The results find a positive association between financial openness and
growth. However growth is associated with an increase in the efficiency of inputs rather than due to an
increase in investment per se

The emergence of MNEs from unique institutional and resource environments as important players in the global economy has been a distinctive development of this century. There has been a surge in outward FDI from India since 2007, spearheaded by M&A activity from the IT sector. Some of these acquisitions have been exemplary, as they have been done by firms classified as Born Globals. The primary purpose of this pioneering study is to initiate the process of applying insights from entrepreneurship research to explain the emergence of born global firms and their consequences for economic development in the Indian context.

The competitive landscape of the Indian business firm has seen a dynamic change in the 1990s as a result of dual institutional changes of economic liberalization and changing intellectual policy regimes. Liberalization and its accompanying changes in trade, industry, foreign investment and technology policy regime, triggered previously protected Indian companies towards capability enhancement. This translated into a two pronged competitive strategy by the Indian firm -the adoption of a defensive strategy was aimed at protecting its competitive position in the domestic market and an assertive strategy aimed at leveraging new opportunities through internationalization. This paper examines the changing strategic orientations of the Indian Pharmaceutical industry through a study of its international venturing. It finds that firms have used acquisition as well as alliances in the spirit of co-opetition rather than competition, both in the domestic and international market as an important element of the industry's survival strategy.

The purpose of this paper is to examine the phenomenon of the born global firm (BGF) in
the Indian context. Specifically, the paper explores firm-level characteristics (from the Indian IT
industry) which act as initiating forces for firms which have made cross-border acquisitions within
five years of incorporation.

Cross border mergers and acquisitions is the fastest means of making an international presence for a business firm. It is a mode of outward FDI which has so far been explained best in terms of Dunning’s OLI framework. The emergence of outbound FDI from the developing world however, has looked at alternate frameworks emphasizing outward orientation, leverage through building linkages and achieving organizational efficiency through integration. The study seeks to explain outbound M&A in the Indian IT industry during 2000-2006, in the changing global competitive scenario .

This paper investigates the link between financial liberalisation and growth for a cross – section of seventeen developing countries, including India, both theoretically and empirically. It also explores the different measures of capital account openness and the empirical evidence on the association between financial openness and growth. Theoretically capital account openness leads to growth through two main channels: increase in aggregate investment and an improvement in productivity and efficiency. Existing empirical evidence however suggests that the link between capital account openness and economic growth is weak. The paper uses a de jure measure of capital account convertibility, calculated as the proportion of capital flows to total flow of funds. The results find a positive association between financial openness and growth for some countries in the sample. However the investment effect is found to be weak or of no significance for the majority of the sample.

This paper examines the phenomenon of accelerated internationalization of firms from the Indian IT industry. It examines the emergence of the Born Global firm in the Indian context with a specific focus on firms which made an acquisition within five years of incorporation. It specifically addresses the issue of initiating factors which contribute to the emergence of the Born Global Acquirer using constructs from the Resource based view (RBV) and institutional theory.

The defining characteristic of the modern global city today is its excluding character. The city today consists to a large extent of poor people who have been excluded in the process of urban planning and whose right to be a part of the urban process has been largely ignored. Urban development that is geared to the needs of global capital displaces or excludes poor segments of the population and leads to the social and spatial segmentation of the mega-city into citadels and ghettos. This has created a growing disparity between “haves” and “have-nots”, both between and within nations. Globalisation proceeds selectively, including and excluding segments of economies and societies in and out of the networks of information, wealth and power that characterise the new dominant system. In the given perspective this paper attempts: · To analyse the effects of globalisation on urban growth and development in India. · To examine the policy and strategy of urban development during the past two...

India and the Latin America and Caribbean (LAC) region have emerged as major growth drivers of the world economy in the last couple of decades. Trade and investment relations between these regions have traditionally been rather insignificant but have picked up in recent years. Since 2000, Indian companies have invested about $12 billion in the LAC region across various industries. This paper examines the important issue of the motives driving OFDI between the two regions. It uses content analysis to identify the motives of the FDI transactions and the Chi Square test to find out the dominant motives driving investment from India to the LAC region across industries between 2000-2012. The study finds that Indian OFDI into the LAC is market-seeking in nature and thus makes a significant contribution to the literature on FDI in the emerging markets context.

Precocity is a temporal dimension of early international orientation. This article analyzes the factors that influence precocity in the context of technology-intensive firms from India. It uses a logistic regression model to examine entrepreneurial, network, and location-specific factors and finds that firms led by young entrepreneurs with foreign education and work experience in foreign markets and experience of startups are more likely to be precocious. Location and networks also emerge as significant drivers of early internationalization. The study contributes to the literature on early internationalization for developing markets and is the starting point for an examination of the born global phenomenon for the Indian information technology industry.