| dc.description.abstract | Joshy Jacob and Prem Chander examine the
nature and extent of the impact of economic
slowdown on the financial performance,
investments, and valuation of selected Indian
firms. Findings indicate decline of the growth
of revenues, profits, and investments.
However, in some sectors the decline started
much ahead of the crisis period, implying
that the domestic demand fall is primarily
the cause. It appears that the initial adverse
impact that firms with more share of
international revenues had is substantially
offset by rupee depreciation. Capital
investments by financially constrained firms
appear to have declined more drastically.
Leverage did not have much adverse impact
on valuation, except for the firms with
greater dependence on short-term and
foreign currency debt. | |
