A Replication Approach Towards Assessment of Performance of Group Affiliated Firms during Institutional Transition in India

Abstract

We try to replicate findings of a previously published paper that differentiates firm performance of group affiliated firms from unaffiliated ones during institutional transition in India using different sampling approaches. We vary the sampling and approaches to question the assumptions underlying the earlier model and hence enrich the understanding of the phenomena. Data for firms based in India over a period of 17-23 years is collated to test the model using balanced and an unbalanced panels and the SAS procedure Time Series Cross Section Regression for analysis. We report different results than that of underlying paper, and suggest that an unbalanced panel leads gives richer results in business studies spanning institutional transitions.